GREAT HARBORS RESIDENT ASSOCIATION INC (EIN 046155966) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1967

Legal Domicile

Principal Officer

THOMAS MIGNOSA

Phone

8475076277

Tax Period

2024-01-01 to 2024-12-31

GREAT HARBORS RESIDENT ASSOCIATION INC, founded in 1967, is a small nonprofit that reported $591K in total revenue in fiscal year 2024. Revenue surged 64% from the prior year, signaling strong growth momentum. The organization ran a surplus of $189K, a strong 32% operating margin.

Mission

RECREATION FACILITY

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $573,308

Investment Income $14,446

Other Revenue $3,584

TOTAL REVENUE $591,338

Expense Breakdown

Grants Paid $0

Salaries & Benefits $102,705

Fundraising Expenses $0

Other Expenses $299,255

TOTAL EXPENSES $401,960

Year-over-Year Comparison

	2024	2023	Change
Revenue	$591,338	$361,002	+0.6%
Expenses	$401,960	$376,243	+0.1%
Net Income	$189,378	$-15,241	-13.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
STEVE BOULAY	DIRECTOR	Director	$0	$0	$0
BOB WHITING	DIRECTOR	Director	$0	$0	$0
BOB WALSH	DIRECTOR	Director	$0	$0	$0
ERIC LEMIEUX	DIRECTOR	Director	$0	$0	$0
MARIE MCDERMOTT	DIRECTOR	Director	$0	$0	$0
DAVID DEVANE	DIRECTOR	Director	$0	$0	$0
MARIO PITARO	DIRECTOR	Director	$0	$0	$0
DICK SALMON	DIRECTOR	Director	$0	$0	$0
SHEILA BECKER	DIRECTOR	Director	$0	$0	$0
ROB CARROLL	ASSISTANT CLERK	Officer	$0	$0	$0
MATTHEW KELLY	PRESIDENT	Officer	$0	$0	$0
JUDY PETERSON	ASSISTANT TREASURER	Officer	$0	$0	$0
PATRICK GALLAGHER	ASSISTANT CLERK	Officer	$0	$0	$0
THOMAS MIGNOSA	TREASURER	Officer	$0	$0	$0
ALLISON KING	CLERK	Officer	$0	$0	$0
CAROL FURST	VICE PRESIDENT	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$591,338	$401,960	$1,109,860	$189,378
2023	$361,002	$376,243	$919,375	$-15,241
2022	$357,981	$347,020	$935,838	$10,961
2021	$328,122	$317,398	$932,719	$10,724
2020	$259,114	$260,814	$911,357	$-1,700
2019	$310,411	$318,807	$942,421	$-8,396
2018	$294,301	$344,317	$922,807	$-50,016

GREAT HARBORS RESIDENT ASSOCIATION INC