CHARLESTOWN BENEVOLENT CARE FOUNDA… - Form 990 Financial Data

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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

2001

Legal Domicile

Principal Officer

DON GROVE

Phone

4102422880

Tax Period

2024-01-01 to 2024-12-31

CHARLESTOWN BENEVOLENT CARE FOUNDATION INC, founded in 2001, is a small nonprofit in the Community Improvement sector that reported $356K in total revenue in fiscal year 2024. Revenue fell 51% from the prior year — a significant decline worth monitoring. Expenses of $631K exceeded revenue, resulting in a 77% operating deficit.

Mission

THE BOARD OF DIRECTORS OF CHARLESTOWN BENEVOLENT CARE FOUNDATION, INC. IS COMMITTED TO CREATING A COMMUNITY THAT CELEBRATE LIFE. SEE SCHEDULE O FOR THE COMPLETE MISSION STATEMENT.

Program Service Accomplishments

Program 1

Expenses: $600,000

THE FOUNDATION IS OPERATED EXCLUSIVELY FOR THE BENEFIT AND SUPPORT OF CHARLESTOWN COMMUNITY, INC., AN ORGANIZATION EXEMPT UNDER IRC SECTION 501(C)(3), INCLUDING, BUT NOT LIMITED TO, SUPPORTING THE...

THE FOUNDATION IS OPERATED EXCLUSIVELY FOR THE BENEFIT AND SUPPORT OF CHARLESTOWN COMMUNITY, INC., AN ORGANIZATION EXEMPT UNDER IRC SECTION 501(C)(3), INCLUDING, BUT NOT LIMITED TO, SUPPORTING THE BENEVOLENT CARE FUND CREATED AND ADMINISTERED BY CCI.

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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 $43,582

Program Service Revenue $0

Investment Income $312,323

Other Revenue $0

TOTAL REVENUE $355,905

Expense Breakdown

Grants Paid $600,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $600,000

Other Expenses $30,783

TOTAL EXPENSES $630,783

Year-over-Year Comparison

	2024	2023	Change
Revenue	$355,905	$724,928	-0.5%
Expenses	$630,783	$326,479	+0.9%
Net Income	$-274,878	$398,449	-1.7%

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

$498,142

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAURA OSTROFF	CHAIRPERSON (THRU 1/15/24)	1.00	Officer Director	$0	$0	$0
RICHARD A GROVE JR	ACTING CHAIRPERSON (BEG 5/15/24)	1.00	Officer Director	$0	$0	$0
NAOMI MCAFEE	DIRECTOR	1.00	Director	$0	$0	$0
DR HEIDI ABELHADY	DIRECTOR	1.00	Director	$0	$0	$0
STEVE HARDERS	DIRECTOR (THRU 9/13/24)	1.00	Director	$0	$0	$0
DAVID DOUDS	DIRECTOR	1.00	Director	$0	$0	$0
CAROL KEFFORD	DIRECTOR	1.00	Director	$0	$0	$0
ROSEMARY ECK	DIRECTOR (THRU 7/9/24)	1.00	Director	$0	$0	$0
LUTHER PETRY	DIRECTOR (THRU 3/19/24)	1.00	Director	$0	$0	$0
REV DAVID S COONEY PHD	DIRECTOR (BEG 5/15/24)	1.00	Director	$0	$0	$0
ALISON BROWN	DIRECTOR (BEG 5/15/24)	1.00	Director	$0	$0	$0
CHRISTOPHER M MCNALLY ESQ	DIRECTOR (BEG 5/15/24)	1.00	Director	$0	$0	$0
DON GROVE EX OFFICIO	PRESIDENT	1.00	Officer	$0	$22,889	$260,872
GLADSTONE JAMES EX OFFICIO	TREASURER (THRU 5/21/24)	1.00	Officer	$0	$15,243	$90,552
PAMELA STINER	TREASURER (BEG 5/15/24)	1.00	Officer	$0	$0	$0
PATRICIA SANTONI EX OFFICIO	SECRETARY	1.00	Officer	$0	$18,363	$146,718

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	$355,905	$630,783	$5,065,491	$-274,878
2023	$724,928	$326,479	$5,519,294	$398,449
2022	$280,289	$832,708	$4,863,644	$-552,419
2021	$563,386	$838,331	$6,823,405	$-274,945
2020	$191,314	$153,865	$6,926,951	$37,449
2019	$1,550,988	$635,183	$6,506,828	$915,805
2018	$551,263	$531,045	$6,036,390	$20,218

CHARLESTOWN BENEVOLENT CARE FOUNDATION INC