RESIDENT ASSOCIATION OF COVENANT WOODS (EIN 542058307) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Principal Officer

STEVE THIMMESCH

Phone

8045698002

Tax Period

2024-04-01 to 2025-03-31

RESIDENT ASSOCIATION OF COVENANT WOODS, founded in 2001, is a small nonprofit in the Community Improvement sector that reported $245K in total revenue in fiscal year 2024. Expenses of $237K left a modest 3% surplus.

Mission

PROVIDE A LIAISON BETWEEN RESIDENTS AND THE MANAGEMENT AND STAFF OF THE RETIREMENT COMMUNITY.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $244,517

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $244,517

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $235,025

Other Expenses $237,051

TOTAL EXPENSES $237,051

Year-over-Year Comparison

	2024	2023	Change
Revenue	$244,517	N/A	N/A
Expenses	$237,051	N/A	N/A
Net Income	$7,466	$0	N/A

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
ROBERTA INGRASSIA	CHAIR	1.00	Officer Director	$0	$0	$0
STEVE BRAY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
STEVE THIMMESCH	TREASURER	1.00	Officer Director	$0	$0	$0
NANCY BALLIHUGH	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVE DEBARGER	BOARD MEMBER	1.00	Director	$0	$0	$0
MARY DOWNEY	BOARD MEMBER	1.00	Director	$0	$0	$0
KATHY JAMES-WEBB	BOARD MEMBER	1.00	Director	$0	$0	$0
BETTY MARTIN	BOARD MEMBER	1.00	Director	$0	$0	$0
FRED MCCALL	BOARD MEMBER	1.00	Director	$0	$0	$0
PATRICIA PACE	BOARD MEMBER	1.00	Director	$0	$0	$0
PATTY LUNG	BOARD MEMBER	1.00	Director	$0	$0	$0
JANET RICKMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
BRUCE RINALDI	BOARD MEMBER	1.00	Director	$0	$0	$0
VICKI TRUMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
VAN WILLIAMS	BOARD MEMBER	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	$244,517	$237,051	$14,007	$7,466

RESIDENT ASSOCIATION OF COVENANT WOODS