SOUTH GULF COVE HOMEOWNERS ASSOCIA… - Form 990 Financial Data

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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

1982

Legal Domicile

Principal Officer

David Cormier

Tax Period

2025-01-01 to 2025-12-31

SOUTH GULF COVE HOMEOWNERS ASSOCIATION INC, founded in 1982, is a small nonprofit in the Community Improvement sector that reported $236K in total revenue in fiscal year 2025. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $117K, a strong 49% operating margin.

Mission

Maintain the common areas of the subdivision and to promote the common good and general welfare of the people of the community.

Program Service Accomplishments

Program 1

Expenses: $87,527 Revenue: $197,658

Maintain the common areas of the subdivision and work to promote the safety and well being of the residents.

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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 (2025)

Revenue Breakdown

Contributions & Grants $1,010

Program Service Revenue $212,143

Investment Income $22,784

Other Revenue $394

TOTAL REVENUE $236,331

Expense Breakdown

Grants Paid $2,467

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $87,527

Other Expenses $117,318

TOTAL EXPENSES $119,785

Year-over-Year Comparison

	2025	2024	Change
Revenue	$236,331	$186,806	+0.3%
Expenses	$119,785	$105,557	+0.1%
Net Income	$116,546	$81,249	+0.4%

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

110

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
David Cormier	President	8	Officer Director	$0	$0	$0
Dan Boris	First Vice President	2	Officer Director	$0	$0	$0
Jerry Berg	Second Vice President	3	Officer Director	$0	$0	$0
Elaine McNeill	Treasurer	6	Officer Director	$0	$0	$0
Sue Anderson	Secretary	6	Officer Director	$0	$0	$0
Timothy Delaney	Treasurer/Director	4	Officer Director	$0	$0	$0
Sheryl Blocklin	Secretary/Director	4	Officer Director	$0	$0	$0
Brian Wakeley	Director	2	Director	$0	$0	$0
Wendy Hall	Director	2	Director	$0	$0	$0
Craig Anderson	Director	2	Director	$0	$0	$0
Geoff Norton	Director	2	Director	$0	$0	$0
Glenn Sechen	Director	2	Director	$0	$0	$0
Paul Wydominic	Director	2	Director	$0	$0	$0
Eric Axelson	Director	2	Director	$0	$0	$0
Tim Bullard	First Vice President	2	Officer Director	$0	$0	$0
Debbie Bullard	Director	2	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	$236,331	$119,785	$1,204,191	$116,546
2024	$186,806	$105,557	$1,041,092	$81,249
2023	$192,782	$88,770	$950,536	$104,012
2022	$218,329	$92,558	$843,316	$125,771
2021	$237,684	$43,658	$728,939	$194,026
2020	$112,630	$23,965	$510,135	$88,665

SOUTH GULF COVE HOMEOWNERS ASSOCIATION INC