COVESA (EIN 263457544) - 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

2008

Legal Domicile

Principal Officer

GRAHAM SMETHURST

Phone

9252756634

Tax Period

2024-01-01 to 2024-12-31

COVESA, founded in 2008, is a community nonprofit in the Community Improvement sector that reported $1.8M in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $408K, a strong 23% operating margin.

Mission

COVESA IS AN OPEN, COLLABORATIVE AND IMPACTFUL TECHNOLOGY ALLIANCE; ACCELERATING THE FULL POTENTIAL OF CONNECTED VEHICLES.

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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 $0

Program Service Revenue $1,805,281

Investment Income $2,942

Other Revenue $0

TOTAL REVENUE $1,808,223

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,400,240

TOTAL EXPENSES $1,400,240

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,808,223	$1,351,116	+0.3%
Expenses	$1,400,240	$1,310,303	+0.1%
Net Income	$407,983	$40,813	+9.0%

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

250

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
GERALD SPREITZ	VP/BOARD MEMBER	8.00	Officer Director	$0	$0	$0
DAN NICHOLSON	BOARD MEMBER	4.00	Director	$0	$0	$0
MATT JONES	PRESIDENT/BOARD MEMBER	8.00	Officer Director	$0	$0	$0
GRAHAM SMETHURST	CHAIRMAN/BOARD MEMBER	8.00	Officer Director	$0	$0	$0
THOMAS BLOOR	SECRETARY/BOARD MEMBER	8.00	Officer Director	$0	$0	$0
JOHN SERGAKIS	TREASURER/BOARD MEMBER	8.00	Officer Director	$0	$0	$0
HISAO MUNAKATA	BOARD MEMBER	4.00	Director	$0	$0	$0
CHRISTOPH LUDEWIG	BOARD MEMBER	4.00	Director	$0	$0	$0
FLORIAN BAUMANN	BOARD MEMBER	4.00	Director	$0	$0	$0
MONA LEVEACHER	BOARD MEMBER	4.00	Director	$0	$0	$0
GERHARD GROSSBERGER	BOARD MEMBER	4.00	Director	$0	$0	$0
STEVE CRUMB	EXECUTIVE DIRECTOR	20.00	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
2024	$1,808,223	$1,400,240	$730,519	$407,983
2023	$1,351,116	$1,310,303	$335,028	$40,813
2022	$1,272,304	$1,212,545	$288,468	$59,759
2021	$928,692	$934,262	$303,181	$-5,570
2020	$1,104,316	$1,052,315	$451,731	$52,001
2019	$1,785,552	$1,415,915	$597,354	$369,637
2018	$1,686,024	$1,726,510	$785,169	$-40,486

COVESA