COVENANT HOMES INCORPORATED (EIN 581327162) - 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

1978

Legal Domicile

Principal Officer

NANCY RICHARDSON

Phone

2524432323

Tax Period

2023-10-01 to 2024-09-30

COVENANT HOMES INCORPORATED, founded in 1978, is a community nonprofit in the Housing & Shelter sector that reported $1.0M in total revenue in fiscal year 2023. The organization ran a surplus of $167K, a strong 16% operating margin.

Mission

HOUSING FOR THE ELDERLY AND HANDICAPPED.

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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 (2023)

Revenue Breakdown

Contributions & Grants $665,681

Program Service Revenue $383,379

Investment Income $69

Other Revenue $0

TOTAL REVENUE $1,049,129

Expense Breakdown

Grants Paid $0

Salaries & Benefits $219,743

Fundraising Expenses $0

Program Expenses $657,604

Other Expenses $662,851

TOTAL EXPENSES $882,594

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,049,129	$976,741	+0.1%
Expenses	$882,594	$877,653	+0.0%
Net Income	$166,535	$99,088	+0.7%

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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NANCY RICHARDSON	PRESIDENT	0.25	Officer Director	$0	$0	$0
DEE WHITLEY	VICE PRESIDENT	0.25	Officer Director	$0	$0	$0
JACK GURGANUS	TREASURER	0.25	Officer Director	$0	$0	$0
LAURA DUDLEY	SECRETARY	0.25	Officer Director	$0	$0	$0
DYLAN CASTELINO	DIRECTOR	0.25	Director	$0	$0	$0
JOHN ETHEREDGE	DIRECTOR	0.25	Director	$0	$0	$0
ANNE MOSLEY	DIRECTOR	0.25	Director	$0	$0	$0
TOM STEED	DIRECTOR	0.25	Director	$0	$0	$0
JOHN TURNAGE	DIRECTOR	0.25	Director	$0	$0	$0
JAY QUINAN	DIRECTOR	0.25	Director	$0	$0	$0
JOHN WININGS	TRANSITIONAL PASTOR	0.25	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	$1,049,129	$882,594	$886,237	$166,535
2023	$976,741	$877,653	$761,851	$99,088
2022	$848,511	$726,854	$710,116	$121,657
2021	$673,309	$620,247	$741,232	$53,062
2020	$603,308	$607,684	$771,437	$-4,376
2019	$690,449	$670,040	$660,340	$20,409

COVENANT HOMES INCORPORATED