COVENANT NEIGHBORHOODS INC (EIN 562528573) - Form 990 Financial Analysis & Trantor Score

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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

2003

Legal Domicile

Principal Officer

STEPHAN FAIRFIELD

Phone

7132231864

Tax Period

2024-01-01 to 2024-12-31

COVENANT NEIGHBORHOODS INC, founded in 2003, is a community nonprofit in the Housing & Shelter sector that reported $2.0M in total revenue in fiscal year 2024. Revenue surged 144% from the prior year, signaling strong growth momentum. Expenses of $2.7M exceeded revenue, resulting in a 37% operating deficit.

Mission

Covenant Neighborhoods fosters strong and stable communities by developing affordable homes, building family assets, increasing amenity access, and mentoring practitioners.

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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 $1,887,695

Investment Income $72,993

Other Revenue $0

TOTAL REVENUE $1,960,688

Expense Breakdown

Grants Paid $6,000

Salaries & Benefits $220,023

Fundraising Expenses $11,001

Program Expenses $2,636,570

Other Expenses $2,459,056

TOTAL EXPENSES $2,685,079

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,960,688	$804,467	+1.4%
Expenses	$2,685,079	$573,601	+3.7%
Net Income	$-724,391	$230,866	-4.1%

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

Governance

Voting Members

Independent Members

Employees

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

$208,014

Total Directors

$208,014

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHAN FAIRFIELD	Executive Direc	20.00	Officer Director	$178,373	$29,641	$208,014
MARLON MITCHELL	Chairman	1.00	Officer Director	$0	$0	$0
GERALD MCINTOSH	Secretary	1.00	Officer 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	$1,960,688	$2,685,079	$25,704,633	$-724,391
2023	$804,467	$573,601	$26,421,724	$230,866
2022	$980,586	$477,115	$18,695,239	$503,471
2021	$2,323,147	$538,974	$18,180,419	$1,784,173
2020	$279,109	$400,141	$10,735,252	$-121,032
2019	$625,146	$139,795	$3,480,547	$485,351
2018	$177,822	$117,235	$2,995,196	$60,587
2017	$145,255	$141,128	$3,298,990	$4,127
2016	$90,465	$42,386	$3,170,619	$48,079

COVENANT NEIGHBORHOODS INC