COVENANT APARTMENTS II INC (EIN 311617841) - 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

1998

Legal Domicile

Principal Officer

JOAN DENISON

Phone

3144321610

Tax Period

2022-05-01 to 2023-04-30

Mission

COVENANT APARTMENTS II, INC. PROVIDED AFFORDABLE HOUSING FOR SENIORS IN A VIBRANT, SAFE, AND SUPPORTIVE COMMUNITY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $0

Expense Breakdown

Grants Paid $595,909

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $595,909

Other Expenses $0

TOTAL EXPENSES $595,909

Year-over-Year Comparison

	2022	2021	Change
Revenue	N/A	$87	-1.0%
Expenses	$595,909	$5,569,630	-0.9%
Net Income	N/A	$-5,569,543	N/A

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

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

$483,450

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOAN DENISON	PRESIDENT AND CEO	0.00	Officer	$0	$14,824	$242,812
JENNIFER SCHMITZ	CHIEF OPERATING OFFICER (THRU 11/22)	0.00	Officer	$0	$5,205	$133,419
NANCY HAWK	CHIEF FINANCIAL OFFICER	0.00	Officer	$0	$10,759	$107,219
HOWARD ROSEN	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
BRIAN NEWMAN	1ST VICE CHAIR	1.00	Officer Director	$0	$0	$0
BARRY SPIEGELGLASS	VICE CHAIR BUILDING DEVELOPMENT	1.00	Officer Director	$0	$0	$0
RICHARD ALPORT	TREASURER	1.00	Officer Director	$0	$0	$0
JESSICA MIROWITZ	SECRETARY	1.00	Officer Director	$0	$0	$0
JOSHUA CORSON	IMMEDIATE PAST CHAIR	1.00	Officer Director	$0	$0	$0
PAUL CAHN	DIRECTOR	1.00	Director	$0	$0	$0
TODD COHEN	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN DAVIS	DIRECTOR	1.00	Director	$0	$0	$0
STUART GREENBAUM	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTI JOHNANINGMEYER	DIRECTOR	1.00	Director	$0	$0	$0
TINA RAFAEL	DIRECTOR	1.00	Director	$0	$0	$0
BETSY RUBENSTEIN	DIRECTOR	1.00	Director	$0	$0	$0
BONNIE SOLOMON	DIRECTOR	1.00	Director	$0	$0	$0
DORIS ZINN	DIRECTOR	1.00	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
2023	No data	$595,909	No data	No data
2022	$87	$5,569,630	$912,203	$-5,569,543
2021	$200,777	$917,383	$6,481,746	$-716,606
2020	$521,678	$687,231	$7,220,856	$-165,553
2019	$2,014,122	$3,030,508	$7,453,503	$-1,016,386

COVENANT APARTMENTS II INC