SALISBURY HOMEOWNERS ASSOCIATION

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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

1985

Legal Domicile

Principal Officer

PHILIP CARTER

Phone

8048977462

Tax Period

2024-01-01 to 2024-12-31

SALISBURY HOMEOWNERS ASSOCIATION, founded in 1985, is a small nonprofit in the Housing & Shelter sector that reported $178K in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $30K, a strong 17% operating margin.

Mission

TO PROVIDE FOR THE UPKEEP AND GENERAL MAINTENANCE OF THE NEIGHBORHOOD AND ITS COMMON AREAS. TO UPDATE NEIGHBORHOOD CONVENANTS AND RESTRICTIONS AS NEEDED AND TO PROVIDE A SAFE, FAMILY FRIENDLY NEIGHBORHOOD THAT FOSTERS A SENSE OF COMMUNITY PRIDE.

Program Service Accomplishments

Program 1

Expenses: $110,782

PROVIDE FOR THE UPKEEP, MAINTENANCE AND GENERAL CHARACTER OF THE RESIDENTIAL NEIGHBORHOOD KNOWN AS SALISBURY, LOCATED IN CHESTERFIELD COUNTY, VA. THIS WAS ACCOMPLISHED THROUGH GENERAL MAINTENANCE...

PROVIDE FOR THE UPKEEP, MAINTENANCE AND GENERAL CHARACTER OF THE RESIDENTIAL NEIGHBORHOOD KNOWN AS SALISBURY, LOCATED IN CHESTERFIELD COUNTY, VA. THIS WAS ACCOMPLISHED THROUGH GENERAL MAINTENANCE, SECURITY PROCEDURES, REVISION OF EXISTING CONVENANTS AND COMMUNITY ACTIVITIES.

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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 $1,050

Program Service Revenue $161,213

Investment Income $15,607

Other Revenue $0

TOTAL REVENUE $177,870

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $110,782

Other Expenses $147,572

TOTAL EXPENSES $147,572

Year-over-Year Comparison

	2024	2023	Change
Revenue	$177,870	$150,567	+0.2%
Expenses	$147,572	$191,171	-0.2%
Net Income	$30,298	$-40,604	-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

Total Directors

$28,060

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENNIFER SOMMER	DIRECTOR	6.00	Director	$26,460	$0	$26,460
KATHERINE JONES GUROIAN	DIRECTOR	1.00	Director	$1,600	$0	$1,600
TERRY STROUD	PRESIDENT	1.00	Officer Director	$0	$0	$0
KEN CARATELLI	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
PHILIP CARTER	TREASURER	1.00	Officer Director	$0	$0	$0
BRANDY NICKEL	SECRETARY	1.00	Officer Director	$0	$0	$0
KEN WILLARD	DIRECTOR	1.00	Director	$0	$0	$0
GENE LEDLIE	DIRECTOR	1.00	Director	$0	$0	$0
KC LONG	DIRECTOR	1.00	Director	$0	$0	$0
CINDY EDELMAN	DIRECTOR	1.00	Director	$0	$0	$0
JOANNE WARD	DIRECTOR	1.00	Director	$0	$0	$0
WICK LYNE	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	$177,870	$147,572	$307,599	$30,298
2023	$150,567	$191,171	$269,054	$-40,604
2022	$151,726	$179,524	$292,416	$-27,798
2021	$152,102	$131,025	$357,230	$21,077
2020	$146,011	$117,277	$314,262	$28,734
2019	$143,717	$132,448	$283,639	$11,269
2018	$144,878	$150,782	$249,354	$-5,904