KOVAR CORPORATION (EIN 237337216) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1971

Legal Domicile

Principal Officer

EDWARD S WHITLOCK III

Phone

5407975823

Tax Period

2024-07-01 to 2025-06-30

KOVAR Corporation, founded in 1971, is a small nonprofit in the Human Services sector that reported $570K in total revenue in fiscal year 2018. Expenses of $661K exceeded revenue, resulting in a 16% operating deficit.

Mission

TO PROVIDE FINANCIAL ASSISTANCE THROUGH GRANTS AND LOANS TO CHARITABLE ORGANIZATIONS THAT PROVIDE TRAINING AND ASSISTANCE TO CITIZENS WITH INTELLECTUAL DISABILITIES IN THE COMMONWEALTH OF VIRGINIA

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $737,342

Program Service Revenue $60,443

Investment Income $52,063

Other Revenue $18,222

TOTAL REVENUE $868,070

Expense Breakdown

Grants Paid $549,493

Salaries & Benefits $0

Fundraising Expenses $96,420

Program Expenses $645,085

Other Expenses $218,250

TOTAL EXPENSES $767,743

Year-over-Year Comparison

	2024	2023	Change
Revenue	$868,070	$724,185	+0.2%
Expenses	$767,743	$800,536	0.0%
Net Income	$100,327	$-76,351	-2.3%

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

2500

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
EDWARD S WHITLOCK III	PRESIDENT	10.00	Officer Director	$0	$0	$0
RICK WITTY	VP - AUDITS	5.00	Officer Director	$0	$0	$0
VANCE F STEWART III	VP - FINANCE	10.00	Officer Director	$0	$0	$0
FRANCIS HOLLAND	VP - FUNDRAI	10.00	Officer Director	$0	$0	$0
MATTHEW WHEELER	VP - GRANTS	5.00	Officer Director	$0	$0	$0
MICHAEL SZABLAK	VP - HOME LO	5.00	Officer Director	$0	$0	$0
TIM SHEA	VP-STRATEGIC	4.00	Officer Director	$0	$0	$0
BRIAN RIPPLE	TREASURER	7.00	Officer Director	$0	$0	$0
G MICHAEL CARDUCCI	SECRETARY	4.00	Officer Director	$0	$0	$0
JOHN COCHRAN	MEMBER	3.00	Director	$0	$0	$0
J CHARLES CURRAN	MEMBER	3.00	Director	$0	$0	$0
DAN DOYLE	MEMBER	3.00	Director	$0	$0	$0
KEVIN PARRY	MEMBER	3.00	Director	$0	$0	$0
JAY HOFFMEIER	MEMBER	3.00	Director	$0	$0	$0
TIMOTHY MINNICH	MEMBER	3.00	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	$868,070	$767,743	$2,771,600	$100,327
2024	$724,185	$800,536	$2,711,440	$-76,351
2023	$661,470	$695,067	$2,839,722	$-33,597
2022	$593,886	$395,164	$2,810,186	$198,722
2021	$511,585	$395,382	$2,646,316	$116,203
2020	$455,958	$506,063	$2,508,658	$-50,105
2019	$569,783	$660,856	$2,558,664	$-91,073

KOVAR CORPORATION