THE COVE - HEART OF TEXAS INC

EIN: 474864862 501(c)(3) Education

WACO, TX

Total Revenue
$705,164
Total Expenses
$971,203
Total Assets
$442,163
Net Assets
$419,953
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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
2015
Legal Domicile
TX
Principal Officer
TIMOTHY PACKER
Phone
2542246095
Tax Period
2024-01-01 to 2024-12-31

THE COVE - HEART OF TEXAS INC, founded in 2015, is a small nonprofit in the Education sector that reported $705K in total revenue in fiscal year 2024. Revenue surged 54% from the prior year, signaling strong growth momentum. Expenses of $971K exceeded revenue, resulting in a 38% operating deficit.

Mission

WE SEEK TO GIVE YOUTH EXPERIENCING HOMELESSNESS A SAFE PLACE TO THRIVE.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $649,168
Program Service Revenue $0
Investment Income $6,433
Other Revenue $49,563
TOTAL REVENUE $705,164

Expense Breakdown

Grants Paid $0
Salaries & Benefits $627,445
Fundraising Expenses $19,775
Program Expenses $704,777
Other Expenses $343,758
TOTAL EXPENSES $971,203

Year-over-Year Comparison

2024 2023 Change
Revenue $705,164 $456,933 +0.5%
Expenses $971,203 $759,299 +0.3%
Net Income $-266,039 $-302,366 -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

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Governance

Voting Members
12
Independent Members
12
Employees
13
Volunteers
35

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
6
$257,321
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID BRENNAN BOARD MEMBER 1.00
Director
$0 $0 $0
CHERYL POOLER BOARD MEMBER 1.00
Director
$0 $0 $0
AMY JIMENEZ SECRETARY 1.00
Officer Director
$0 $0 $0
STEPHEN ORR BOARD MEMBER 1.00
Director
$0 $0 $0
SHELLY SPINKS TREASURER 1.00
Officer Director
$0 $0 $0
TRENIA COOPER CHAIR 1.00
Director
$0 $0 $0
AUSTIN BUCHS BOARD MEMBER 1.00
Director
$0 $0 $0
DAN MACLEMORE BOARD MEMBER 1.00
Director
$0 $0 $0
CARINA YEBRA BOARD MEMBER 1.00
Director
$0 $0 $0
HAROLD BROWN FUNDRAISING & MARKETING DIRECTOR 40.00
Officer
$57,830 $0 $57,830
TIMOTHY PACKER EXECUTIVE DIRECTOR 40.00
Officer
$90,958 $0 $90,958
SHELBY HERRING PROGRAM DIRECTOR 40.00
Officer
$64,000 $0 $64,000
SHAUN LEE DEVELOPMENT DIRECTOR 40.00
Officer
$44,533 $0 $44,533
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 $705,164 $971,203 $442,163 $-266,039
2023 $456,933 $759,299 $652,147 $-302,366
2022 $795,608 $690,079 $923,139 $105,529
2021 $819,992 $659,031 $747,013 $160,961
2020 $409,714 $458,429 $622,459 $-48,715
2019 $653,196 $380,367 $618,405 $272,829
2018 $385,874 $222,591 $345,424 $163,283
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