CARDINAL BAY INC

EIN: 352440075 501(c)(3) Housing & Shelter

SHELTON, CT

Total Revenue
$44,184,784
Total Expenses
$47,541,848
Total Assets
$199,815,153
Net Assets
$-24,623,219
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
TX
Principal Officer
LAURENCE P DAHL
Phone
9729804805
Tax Period
2024-01-01 to 2024-12-31

CARDINAL BAY INC, founded in 2012, is a mid-sized nonprofit in the Housing & Shelter sector that reported $44.2M in total revenue in fiscal year 2024.

Mission

IT IS THE MISSION OF CARDINAL BAY, INC., TO ASSERT EFFORTS TOWARDS DEVELOPING, FINANCING AND OPERATING FOR THE LONG-TERM, QUALITY, STABLE AND HEALTHY, PROGRAM-ENRICHED, AFFORDABLE HOUSING FOR FAMILIES, SENIOR CITIZENS AND PEOPLE WITH SPECIAL NEEDS.

Program Service Accomplishments

Program 1
Expenses: $43,223,115 Revenue: $43,968,863

EIGHT SENIOR LIVING FACILITIES PROVIDING 1,043 QUALITY AFFORDABLE INDEPENDENT LIVING, ASSISTED LIVING, AND MEMORY SUPPORT UNITS FOR SENIOR CITIZENS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $43,968,863
Investment Income $215,921
Other Revenue $0
TOTAL REVENUE $44,184,784

Expense Breakdown

Grants Paid $0
Salaries & Benefits $15,686,316
Fundraising Expenses $0
Program Expenses $43,223,115
Other Expenses $31,855,532
TOTAL EXPENSES $47,541,848

Year-over-Year Comparison

2024 2023 Change
Revenue $44,184,784 $42,013,715 +0.1%
Expenses $47,541,848 $45,916,569 +0.0%
Net Income $-3,357,064 $-3,902,854 -0.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

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
4
$324,367
Total Directors
4
$324,367
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LLOYD KITCHEN III PRESIDENT, CHAIRMAN, TREAS 5.00
Officer Director
$0 $10,200 $144,367
LAURENCE P DAHL PRESIDENT, CHAIRMAN 5.00
Officer Director
$60,000 $0 $60,000
MATTHEW H PEHRSON SECRETARY 5.00
Officer Director
$60,000 $0 $60,000
ROBERT E OGLE TREASURER 5.00
Officer Director
$60,000 $0 $60,000
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 $44,184,784 $47,541,848 $199,815,153 $-3,357,064
2023 $42,013,715 $45,916,569 $203,503,755 $-3,902,854
2022 $39,334,699 $44,843,774 $210,832,423 $-5,509,075
2021 $38,962,126 $41,273,265 $218,351,213 $-2,311,139
2020 $37,782,896 $41,931,447 $225,656,938 $-4,148,551
2019 $39,930,501 $41,593,096 $230,845,654 $-1,662,595
2018 $39,326,858 $40,544,057 $235,729,722 $-1,217,199
Explore More Nonprofits
→Top 100 Nonprofits in Connecticut →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare CARDINAL BAY INC with other nonprofits in Connecticut and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.