Westover Cove Inc (EIN 200086537) - 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

2005

Legal Domicile

Principal Officer

Phil Thompson

Phone

2102201908

Tax Period

2024-04-01 to 2025-03-31

Westover Cove Inc, founded in 2005, is a small nonprofit in the Housing & Shelter sector that reported $213K in total revenue in fiscal year 2024. Expenses of $247K exceeded revenue, resulting in a 16% operating deficit.

Mission

To provide low income housing to those individuals who are physically or mentally disabled who need public housing assistance, as required by U.S. Department of Housing and Urban Development.

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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 $177,491

Program Service Revenue $33,653

Investment Income $3

Other Revenue $1,586

TOTAL REVENUE $212,733

Expense Breakdown

Grants Paid $0

Salaries & Benefits $64,911

Fundraising Expenses $0

Program Expenses $217,374

Other Expenses $182,392

TOTAL EXPENSES $247,303

Year-over-Year Comparison

	2024	2023	Change
Revenue	$212,733	$202,506	+0.1%
Expenses	$247,303	$269,113	-0.1%
Net Income	$-34,570	$-66,607	-0.5%

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
Phil Thompson	President	010.00	Director	$0	$0	$0
Judy Zavalla	Vice President	001.00	Director	$0	$0	$0
Erin McReynolds	Director	001.00	Director	$0	$0	$0
Jerry Frashour	Treasurer	003.00	Director	$0	$0	$0
Andrea Hazlit	Director	001.00	Director	$0	$0	$0
Beverly Hickey	Director	001.00	Director	$0	$0	$0
Jimmie Sue Siptak	Director	001.00	Director	$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
2025	$212,733	$247,303	$843,557	$-34,570
2024	$202,506	$269,113	$864,831	$-66,607
2023	$187,841	$238,325	$924,713	$-50,484
2022	$194,467	$238,838	$971,424	$-44,371
2021	$188,262	$201,218	$1,030,238	$-12,956
2020	$183,463	$263,214	$1,022,024	$-79,751
2019	$177,078	$192,530	$1,088,596	$-15,452
2018	$169,236	$182,775	$1,104,144	$-13,539

Westover Cove Inc