SOUND COMMUNITIES INC

EIN: 320631590 501(c)(3) Housing & Shelter

NORWALK, CT

Total Revenue
$420,113
Total Expenses
$638,915
Total Assets
$4,539,930
Net Assets
$4,417,166
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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
2020
Legal Domicile
CT
Principal Officer
ADAM BOVILSKY
Phone
2038398471
Tax Period
2024-01-01 to 2024-12-31

SOUND COMMUNITIES INC, founded in 2020, is a small nonprofit in the Housing & Shelter sector that reported $420K in total revenue in fiscal year 2024. Revenue fell 92% from the prior year — a significant decline worth monitoring. Expenses of $639K exceeded revenue, resulting in a 52% operating deficit.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $416,695
Investment Income $3,418
Other Revenue $0
TOTAL REVENUE $420,113

Expense Breakdown

Grants Paid $0
Salaries & Benefits $307,235
Fundraising Expenses $0
Program Expenses $135,163
Other Expenses $331,680
TOTAL EXPENSES $638,915

Year-over-Year Comparison

2024 2023 Change
Revenue $420,113 $5,455,656 -0.9%
Expenses $638,915 $1,322,692 -0.5%
Net Income $-218,802 $4,132,964 -1.1%
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

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Governance

Voting Members
3
Independent Members
3
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
0
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ADAM BOVILSKY PRESIDENT & DIRECTOR 0.00
Director
$0 $0 $0
KRASIMIRA CARLUCCI VP & DIRECTOR 0.00
Director
$0 $0 $0
CHARMAINE DAVIS-FORD SECRETARY & TREASURER 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 $420,113 $638,915 $4,539,930 $-218,802
2023 $5,455,656 $1,322,692 $5,541,340 $4,132,964
2022 $8,748 $155,613 $8,963 $-146,865
2021 No data $5,987 No data No data
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