The Cottages at Beaufort I Inc (EIN 582450433) - 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

1999

Legal Domicile

Principal Officer

Jill Cromartie

Phone

5123283232

Tax Period

2024-10-01 to 2025-09-30

The Cottages at Beaufort I Inc, founded in 1999, is a small nonprofit in the Housing & Shelter sector that reported $161K in total revenue in fiscal year 2024. Expenses of $190K exceeded revenue, resulting in a 19% operating deficit.

Mission

Provide housing to low income elderly persons by operating an apartment community regulated by HUD under Section 202 of the National Housing Act of 1959.

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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 $159,936

Investment Income $9

Other Revenue $781

TOTAL REVENUE $160,726

Expense Breakdown

Grants Paid $0

Salaries & Benefits $54,900

Fundraising Expenses $0

Program Expenses $156,502

Other Expenses $135,572

TOTAL EXPENSES $190,472

Year-over-Year Comparison

	2024	2023	Change
Revenue	$160,726	$157,197	+0.0%
Expenses	$190,472	$173,449	+0.1%
Net Income	$-29,746	$-16,252	+0.8%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Diana McIver	Board Chair (from May 2025)	2.00	Officer Director	$0	$0	$0
Jill Cromartie	President (from May 2025)	2.00	Officer Director	$0	$0	$0
Susan McDonald	Vice President	2.00	Officer Director	$0	$0	$0
Ann Cone	Treasurer(from May 2025)	2.00	Officer Director	$0	$0	$0
Linda Preston	Director	2.00	Director	$0	$0	$0
Ann Marie Schmidt	Director	2.00	Director	$0	$0	$0
Melvin J Sawyer Jr	Director	2.00	Director	$0	$0	$0
Grace Rutledge	Director	2.00	Director	$0	$0	$0
Ashley Northcutt	Director	2.00	Director	$0	$0	$0
Becky Wiles	Director	2.00	Director	$0	$0	$0
Ellen Vossbrink	Director	2.00	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	$160,726	$190,472	$657,729	$-29,746
2024	$157,197	$173,449	$709,326	$-16,252
2023	$155,402	$190,466	$696,743	$-35,064
2022	$157,148	$167,980	$729,625	$-10,832
2021	$154,345	$166,016	$745,826	$-11,671
2020	$143,325	$156,749	$745,874	$-13,424

The Cottages at Beaufort I Inc