COVINGTON LADIES HOME INC (EIN 610461759) - 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

1888

Legal Domicile

Principal Officer

CARRIE VANDERZEE

Phone

8594316913

Tax Period

2023-01-01 to 2023-12-31

COVINGTON LADIES HOME INC, founded in 1888, is a small nonprofit that reported $768K in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $1.7M exceeded revenue, resulting in a 116% operating deficit.

Mission

PROVIDE RESIDENTIAL CARE FOR ELDERLY INDIVIDUALS

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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 $173,528

Program Service Revenue $541,782

Investment Income $-622

Other Revenue $53,591

TOTAL REVENUE $768,279

Expense Breakdown

Grants Paid $0

Salaries & Benefits $932,262

Fundraising Expenses $85,033

Program Expenses $1,237,362

Other Expenses $723,960

TOTAL EXPENSES $1,656,222

Year-over-Year Comparison

	2023	2022	Change
Revenue	$768,279	$1,183,925	-0.4%
Expenses	$1,656,222	$1,527,355	+0.1%
Net Income	$-887,943	$-343,430	+1.6%

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

$117,040

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RON PADGETT	PRESIDENT	5.00	Officer Director	$0	$0	$0
CHERYL JOHNSON	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
KRISTINE MIRRIELEES	SECRETARY	5.00	Officer Director	$0	$0	$0
NICHOLAS HAWTHORNE	TREASURER	5.00	Officer Director	$0	$0	$0
ANDREW CAMPBELL	DIRECTOR	1.00	Director	$0	$0	$0
ANGELA WURTENBERGER	DIRECTOR	1.00	Director	$0	$0	$0
CHANDA CALENTINE	DIRECTOR	1.00	Director	$0	$0	$0
KAREEM SIMPSON	DIRECTOR	1.00	Director	$0	$0	$0
LAURA HARRIS	DIRECTOR	1.00	Director	$0	$0	$0
MARISA McNEE	DIRECTOR	1.00	Director	$0	$0	$0
MICAH PALDINO	DIRECTOR	1.00	Director	$0	$0	$0
RON WASHINGTON	DIRECTOR	1.00	Director	$0	$0	$0
RYAN DOWDY	DIRECTOR	1.00	Director	$0	$0	$0
SABRINA SMITH	DIRECTOR	1.00	Director	$0	$0	$0
CARRIE VANDERZEE	EXECUTIVE DIRECTOR	40.00	Key Emp Highest	$117,040	$0	$117,040

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	No data	No data	No data	No data
2023	$768,279	$1,656,222	$5,660,075	$-887,943
2022	$1,183,925	$1,527,355	$6,544,273	$-343,430
2021	$620,878	$1,359,979	$6,957,640	$-739,101
2020	$788,933	$1,181,563	$7,106,412	$-392,630
2019	$2,178,079	$1,123,217	$7,002,597	$1,054,862
2018	$1,222,305	$1,125,818	$6,560,270	$96,487

COVINGTON LADIES HOME INC