COVENANT ENABLING RESIDENCES OF MINNESOTA (EIN 411879965) - 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

TRACY CHRISTENSON

Phone

2186243097

Tax Period

2023-01-01 to 2023-12-31

COVENANT ENABLING RESIDENCES OF MINNESOTA, founded in 1998, is a community nonprofit that reported $4.9M in total revenue in fiscal year 2023. Expenses of $4.8M left a modest 3% surplus.

Mission

PROVIDE HIGH-QUALITY LIVING OPPORTUNITIES FOR ADULTS WITH DEVELOPMENTAL DISABILITIES IN A CHRISTIAN ENVIRONMENT ON BEHALF OF THE EVANGELICAL COVENANT CHURCH.

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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 (2023)

Revenue Breakdown

Contributions & Grants $38,587

Program Service Revenue $4,856,463

Investment Income $36,771

Other Revenue $7,591

TOTAL REVENUE $4,939,412

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,508,647

Fundraising Expenses $0

Program Expenses $4,070,895

Other Expenses $1,280,721

TOTAL EXPENSES $4,789,368

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,939,412	N/A	N/A
Expenses	$4,789,368	N/A	N/A
Net Income	$150,044	N/A	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

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

$252,023

Total Directors

$139,196

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID BOGGS	ASSISTANT SE	40.00	Director	$0	$12,197	$139,196
DANA NORTON	EXECUTIVE DI	40.00	Officer	$27,906	$1,292	$138,434
TRACY CHRISTENSON	CONTROLLER	40.00	Officer	$99,637	$13,952	$113,589
LAURA DAIRE	PROGRAM ADMI	40.00	Highest	$100,752	$3,023	$103,775
WILLIAM KING	TRUSTEE	N/A	Director	$0	$0	$0
HARRY MICHALICEK	TRUSTEE	N/A	Director	$0	$0	$0
TONI SCHWABE	TRUSTEE	N/A	Director	$0	$0	$0
JAMES ANDERSON	SECRETARY	N/A	Officer	$0	$0	$0
WALTER CRESSMAN	BOARD CHAIR	N/A	Officer	$0	$0	$0
JAMES RICH	VICE-CHAIR	N/A	Officer	$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	No data	No data	No data	No data
2023	$4,939,412	$4,789,368	$4,010,316	$150,044

COVENANT ENABLING RESIDENCES OF MINNESOTA