ELDER SPIRIT DEVELOPMENT CO

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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

1999

Legal Domicile

Principal Officer

CATHY ABERNATHY

Phone

2765254704

Tax Period

2024-01-01 to 2024-12-31

ELDER SPIRIT DEVELOPMENT CO, founded in 1999, is a small nonprofit in the Housing & Shelter sector that reported $170K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $209K exceeded revenue, resulting in a 23% operating deficit.

Mission

DEVELOP AND MANAGE LOW INCOME HOUSING FOR PERSONS AGE 55 AND OVER

Program Service Accomplishments

Program 1

Expenses: $208,726 Revenue: $170,377

PROVIDE 16 APARTMENTS FOR MIXED INCOME HOUSING IN ABINGDON VA REVENUE AND EXPENSES ARE REPORTED IN THE RENTAL SCHEDULE

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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 $0

Program Service Revenue $119,643

Investment Income $7,761

Other Revenue $42,973

TOTAL REVENUE $170,377

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $208,726

Other Expenses $208,726

TOTAL EXPENSES $208,726

Year-over-Year Comparison

	2024	2023	Change
Revenue	$170,377	$155,264	+0.1%
Expenses	$208,726	$247,081	-0.2%
Net Income	$-38,349	$-91,817	-0.6%

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
CATHY ABERNATHY	TREASURER	N/A	Officer Director	$0	$0	$0
KATHY BUCK	BOARD MEMBER	N/A	Director	$0	$0	$0
PAMELA DAVIS	SECRETARY	N/A	Officer Director	$0	$0	$0
EMILY DEPEW	BOARD MEMBER	N/A	Director	$0	$0	$0
ROB GOLDSMITH	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
ADAM HUTCHINSON	BOARD MEMBER	N/A	Director	$0	$0	$0
LINDA MASHBURN	PRESIDENT	N/A	Officer Director	$0	$0	$0
PEGGY MATTHEWS	BOARD MEMBER	N/A	Director	$0	$0	$0
MARGIE STANKO	BOARD MEMBER	N/A	Director	$0	$0	$0
BOB TERRELL	BOARD MEMBER	N/A	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
2024	$170,377	$208,726	$1,289,978	$-38,349
2023	$155,264	$247,081	$1,351,135	$-91,817
2022	$131,505	$227,201	$1,465,577	$-95,696
2021	$198,325	$186,462	$1,581,217	$11,863
2020	$133,031	$189,474	$1,590,947	$-56,443
2019	$124,206	$170,565	$1,667,140	$-46,359
2018	$184,370	$169,812	$1,732,369	$14,558