GLEN COVE DOWNTOWN DISTRICT

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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

1997

Legal Domicile

Principal Officer

JILL NOSSA

Phone

5167596970

Tax Period

2023-01-01 to 2023-12-31

GLEN COVE DOWNTOWN DISTRICT, founded in 1997, is a small nonprofit in the Community Improvement sector that reported $187K in total revenue in fiscal year 2023. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $249K exceeded revenue, resulting in a 33% operating deficit.

Mission

REVITALIZATION AND REBUILDING THE DOWNTOWN GLEN COVE AREA

Program Service Accomplishments

Program 1

MEETING THE NEEDS OF LOCAL BUSINESS IN THE CONTINUED EFFORT TO REVITALIZE, REBUILD AND NAINTAIN BUSINESS GROWTH AND DEVELOPEMENT WITH THE BUSINESS IMPROVEMENT DISTRICT

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $187,094

Investment Income $164

Other Revenue $0

TOTAL REVENUE $187,258

Expense Breakdown

Grants Paid $0

Salaries & Benefits $104,941

Fundraising Expenses $0

Program Expenses $217,484

Other Expenses $144,150

TOTAL EXPENSES $249,091

Year-over-Year Comparison

	2023	2022	Change
Revenue	$187,258	$355,262	-0.5%
Expenses	$249,091	$298,606	-0.2%
Net Income	$-61,833	$56,656	-2.1%

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

$49,984

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JILL NOSSA	DIRECTOR	35.00	Officer	$49,984	$0	$49,984

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	No data	No data	No data	No data
2023	$187,258	$249,091	$100,831	$-61,833
2022	$355,262	$298,606	$167,288	$56,656
2021	$224,267	$201,524	$106,626	$22,743
2020	$191,948	$143,719	$85,762	$48,229