COVE HOMES INCORPORATED

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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

1990

Legal Domicile

Principal Officer

TRACY JOHNSON

Phone

4018852610

Tax Period

2021-07-01 to 2022-06-30

COVE HOMES INCORPORATED, founded in 1990, is a community nonprofit that reported $2.1M in total revenue in fiscal year 2021. Expenses of $2.0M left a modest 6% surplus.

Mission

TO PROVIDE DECENT AND AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME SENIOR CITIZENS AND FAMILIES.

Program Service Accomplishments

Program 1

Expenses: $1,999,682

PROVIDE DECENT AND AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME SENIOR CITIZENS AND FAMILIES.

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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 (2021)

Revenue Breakdown

Contributions & Grants $1,504,664

Program Service Revenue $563,430

Investment Income $0

Other Revenue $59,917

TOTAL REVENUE $2,128,011

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,999,682

Other Expenses $1,999,682

TOTAL EXPENSES $1,999,682

Year-over-Year Comparison

	2021	2020	Change
Revenue	$2,128,011	$2,014,685	+0.1%
Expenses	$1,999,682	$1,971,007	+0.0%
Net Income	$128,329	$43,678	+1.9%

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

N/A

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
DONALD ANNICELLI	DIRECTOR	0.25	Director	$0	$0	$0
RUTH FEDER	PRESIDENT	1.00	Director	$0	$0	$0
CLAIRE MARTINS	DIRECTOR	0.25	Director	$0	$0	$0
CYNTHIA WHITE OVERTON	DIRECTOR	0.50	Director	$0	$0	$0
EDWARD VEAZEY	VICE PRESIDE	0.50	Director	$0	$0	$0
TRACY JOHNSON	EXECUTIVE DI	24.00	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
2022	$2,128,011	$1,999,682	$2,623,679	$128,329
2021	$2,014,685	$1,971,007	$2,526,164	$43,678
2020	$1,976,534	$2,016,816	$2,491,914	$-40,282
2019	$1,904,015	$1,862,006	$2,494,978	$42,009