EDGEMERE BEACH CONDOMINIUM ASSOCIA… - Form 990 Financial Data

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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

2001

Legal Domicile

Principal Officer

Tony Gormican

Phone

5852694065

Tax Period

2025-01-01 to 2025-12-31

EDGEMERE BEACH CONDOMINIUM ASSOCIATION INC, founded in 2001, is a micro nonprofit that reported $44K in total revenue in fiscal year 2025. Expenses of $76K exceeded revenue, resulting in a 71% operating deficit.

Mission

Edgemere Beach Condominium Association works with the homeowners of Edgemere Beach to maintain the buildings and property through homeowners associations, special assessments, and volunteer work of the residents.

Program Service Accomplishments

Program 1

Expenses: $53,809

For the maintenance of the condos and beach

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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 (2025)

Revenue Breakdown

Contributions & Grants $19,240

Program Service Revenue $0

Investment Income $2

Other Revenue $25,162

TOTAL REVENUE $44,404

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $53,809

Other Expenses $75,847

TOTAL EXPENSES $75,847

Year-over-Year Comparison

	2025	2024	Change
Revenue	$44,404	$42,385	+0.0%
Expenses	$75,847	$37,466	+1.0%
Net Income	$-31,443	$4,919	-7.4%

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

N/A

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
TONY GORMCIAN	PRESIDENT	4.0	Officer	$0	$0	$0
Angela Serrator	Secretary	2.0	Officer	$0	$0	$0
Daniel Stout	officer	1.0	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
2025	$44,404	$75,847	$9,380	$-31,443
2024	$42,385	$37,466	$40,823	$4,919
2023	$66,808	$47,529	$35,904	$19,279
2022	$40,214	$37,711	$10,679	$2,503
2021	$34,441	$28,562	$5,946	$5,879

EDGEMERE BEACH CONDOMINIUM ASSOCIATION INC