SCARLET COVERING INC (EIN 364669638) - 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

2010

Legal Domicile

Principal Officer

ANGELA KIDANE

Phone

4107280652

Tax Period

2024-01-01 to 2024-12-31

SCARLET COVERING INC, founded in 2010, is a community nonprofit in the Youth Development sector that reported $2.8M in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $2.5M left a modest 10% surplus.

Mission

TO EDUCATE AND ENHANCE THE LIVES OF CHILDREN AGES 6 WEEKS TO 12 YEARS THROUGH THE EXPOSURE TO CULTURAL ARTS. SUPPORT THE GROWTH OF FAMILIES BY CREATING A SUPPORTIVE AND ENRICHING ENVIRONMENT, GROUNDED IN BIBLICAL PRINCIPLES. FOSTER THE NATURAL LOVE OF LEARNING THROUGH ENRICHING PLAY AND POSITIVE REINFORCEMENT.

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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 $1,942,054

Program Service Revenue $814,802

Investment Income $15,727

Other Revenue $0

TOTAL REVENUE $2,772,583

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,575,747

Fundraising Expenses $0

Program Expenses $1,923,415

Other Expenses $929,783

TOTAL EXPENSES $2,505,530

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,772,583	$2,192,611	+0.3%
Expenses	$2,505,530	$1,891,178	+0.3%
Net Income	$267,053	$301,433	-0.1%

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

Governance

Voting Members

Independent Members

Employees

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

$252,031

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANGELA KIDANE	President	40.00	Director	$165,000	$0	$165,000
NICK COUTROUPIS	Director	2.00	Director	$50,000	$0	$50,000
TIA COUTROUPIS	Director	2.00	Director	$37,031	$0	$37,031
KOTELLA BRYANT	Director	2.00	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
2025	No data	No data	No data	No data
2024	$2,772,583	$2,505,530	$1,858,128	$267,053
2023	$2,192,611	$1,891,178	$1,407,692	$301,433
2022	$1,608,801	$1,495,004	$1,154,019	$113,797
2021	$1,114,512	$1,180,887	$1,041,058	$-66,375
2020	$1,081,019	$905,375	$482,792	$175,644
2019	$1,152,951	$1,202,738	$163,707	$-49,787
2018	$1,190,974	$1,121,466	$207,979	$69,508

SCARLET COVERING INC