AALC INC C/O COVENANT COLLEGE FOUNDATION (EIN 262480633) - 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

2007

Legal Domicile

Principal Officer

JOHN T JOHNSTON III

Phone

7064191062

Tax Period

2024-01-01 to 2024-12-31

AALC INC C/O COVENANT COLLEGE FOUNDATION, founded in 2007, is a small nonprofit in the Housing & Shelter sector that reported $117K in total revenue in fiscal year 2024. Revenue surged 137654% from the prior year, signaling strong growth momentum. Expenses of $130K exceeded revenue, resulting in a 11% operating deficit.

Mission

ADVANCEMENT OF THE HEALTH, RELIGIOUS, AND EDUCATIONAL NEEDS OF THE ELDERLY

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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 $117,000

Program Service Revenue $0

Investment Income $91

Other Revenue $0

TOTAL REVENUE $117,091

Expense Breakdown

Grants Paid $123,568

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $124,405

Other Expenses $6,883

TOTAL EXPENSES $130,451

Year-over-Year Comparison

	2024	2023	Change
Revenue	$117,091	$85	+1376.5%
Expenses	$130,451	$38,174	+2.4%
Net Income	$-13,360	$-38,089	-0.6%

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
KAREN LEAVENGOOD	PRESIDENT	15.00	Officer Director	$0	$0	$0
JOHN T JOHNSTON III	TREASURER	0.00	Officer Director	$0	$0	$0
KAREN WELLBORN	SECRETARY	0.00	Officer Director	$0	$0	$0
MIKE KRAMER	BOARD MEMBER	0.00	Director	$0	$0	$0
MARC ERICKSON	BOARD MEMBER	0.00	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
2024	$117,091	$130,451	$641,204	$-13,360
2023	$85	$38,174	$655,939	$-38,089
2022	$85,085	$10,203	$692,578	$74,882
2021	$21	$7,928	$617,696	$-7,907
2020	$4,622	$12,458	$625,604	$-7,836
2019	$1,472	$4,284	$633,440	$-2,812
2018	$273	$5,805	$636,252	$-5,532

AALC INC C/O COVENANT COLLEGE FOUNDATION