The Fund for Covington Inc (EIN 461870633) - 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

2012

Legal Domicile

Principal Officer

Ken Smith

Phone

8592922334

Tax Period

2022-01-01 to 2022-12-31

The Fund for Covington Inc, founded in 2012, is a micro nonprofit in the Recreation & Sports sector that reported $40K in total revenue in fiscal year 2022. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $84K exceeded revenue, resulting in a 111% operating deficit.

Mission

The Fund for Covington, Inc. strives to expand the ability of the City of Covington to serve its residents by expanding access to resources. The organization acts as a fiscal agent and partner to leverage resources for the citizenry.

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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 $39,507

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $39,507

Expense Breakdown

Grants Paid $42,803

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $80,417

Other Expenses $40,739

TOTAL EXPENSES $83,542

Year-over-Year Comparison

	2022	2021	Change
Revenue	$39,507	$73,471	-0.5%
Expenses	$83,542	$130,846	-0.4%
Net Income	$-44,035	$-57,375	-0.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ken Smith	Chairman	2.00	Officer Director	$0	$0	$0
Steve Webb	Director	2.00	Director	$0	$0	$0
Ben Oldiges	Secretary	2.00	Officer Director	$0	$0	$0
Brandon Holmes	Treasurer	2.00	Officer Director	$0	$0	$0
Tom West	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
2022	$39,507	$83,542	$63,791	$-44,035
2021	$73,471	$130,846	$107,826	$-57,375

The Fund for Covington Inc