NOVACO INC

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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

2002

Legal Domicile

Principal Officer

THOMAS GOODWIN

Phone

7032183984

Tax Period

2022-07-01 to 2023-06-30

NOVACO INC, founded in 2002, is a small nonprofit in the Human Services sector that reported $104K in total revenue in fiscal year 2022. Revenue decreased 10% compared to the prior year. Net assets of $1.0M represent 118 months of operating reserves.

Mission

NOVACO HELPS HOMELESS VICTIMS OF DOMESTIC ABUSE BECOME HEALTHY, SECURE AND SELF-SUFFICIENT THROUGH COMMUNITY COLLABORATION TO PROVIDE HOUSING, EDUCATION, CHILDCARE, COUNSELING, MENTORING AND FINANCIAL MANAGEMENT.

Program Service Accomplishments

Program 1

Expenses: $104,414 Revenue: $103,800

PROGRAM SERVICES PROVIDED TO HOMELESS VICTIMS OF DOMESTIC ABUSE IN FAIRFAX COUNTY, VIRGINIA.

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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 $41

Program Service Revenue $103,800

Investment Income $23

Other Revenue $0

TOTAL REVENUE $103,864

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $1,123

Program Expenses $104,414

Other Expenses $109,887

TOTAL EXPENSES $109,887

Year-over-Year Comparison

	2022	2021	Change
Revenue	$103,864	$115,548	-0.1%
Expenses	$109,887	$108,783	+0.0%
Net Income	$-6,023	$6,765	-1.9%

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

$197,678

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH MEYER	EXECUTIVE DIRECTOR & CEO	40.00	Officer	$0	$14,074	$197,678
DAVID GINSBERG	CHAIR	3.00	Officer Director	$0	$0	$0
TJ ADAMS SR	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SOPA KEO	TREASURER	3.00	Officer Director	$0	$0	$0
STEPHEN EICHENBRENNER	SECRETARY	1.00	Officer Director	$0	$0	$0
BILL GROSSMAN	DIRECTOR	1.00	Director	$0	$0	$0
ANGELA HARPALANI	DIRECTOR	1.00	Director	$0	$0	$0
NAZ HESSELTON	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT COVINO	DIRECTOR	1.00	Director	$0	$0	$0
SHARON FITZPATRICK	DIRECTOR	1.00	Director	$0	$0	$0
CLYDE E SONNY ELLIS	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS G GOODWIN	DIRECTOR	1.00	Director	$0	$0	$0
ERIKA JAMES-JACKSON	DIRECTOR	1.00	Director	$0	$0	$0
NANCY SOCHER	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$103,864	$109,887	$1,221,501	$-6,023
2022	$115,548	$108,783	$1,489,277	$6,765
2021	$57,976	$109,800	$1,472,204	$-51,824
2020	$88,450	$102,649	$1,582,436	$-14,199
2019	$103,373	$113,618	$1,598,945	$-10,245
2018	$97,799	$136,302	$1,614,110	$-38,503