COOPERATIVE DOWNTOWN MINISTRIES INC

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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

1985

Legal Domicile

Principal Officer

NICOLE BOOMHOVER

Phone

2052529571

Tax Period

2024-01-01 to 2024-12-31

COOPERATIVE DOWNTOWN MINISTRIES INC, founded in 1985, is a community nonprofit that reported $3.8M in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Net assets of $7.9M represent 25 months of operating reserves.

Mission

THE MISSION IS TO PROVIDE TO THE HOMELESS, AGES 18 AND OLDER, IN THE BIRMINGHAM AREA A NURTURING AND CARING ENVIRONMENT OFFERING SUPPORTIVE SERVICES THAT BREAK THE CYCLE OF HOMELESSNESS AND EMPOWER INDIVIDUALS TO ACHIEVE THEIR HIGHEST POTENTIAL.

Program Service Accomplishments

Program 1

Expenses: $2,174,395 Revenue: $173,025

PERMANENT AND SUPPORTING HOUSING: IN 2024, FIREHOUSE MINISTRIES PROVIDED 248,570 ESSENTIAL SERVICES, INCLUDING HEALTH REFERRALS, CASE MANAGEMENT, LEGAL ASSISTANCE, EXTREME WEATHER SHELTERING, LIFE...

PERMANENT AND SUPPORTING HOUSING: IN 2024, FIREHOUSE MINISTRIES PROVIDED 248,570 ESSENTIAL SERVICES, INCLUDING HEALTH REFERRALS, CASE MANAGEMENT, LEGAL ASSISTANCE, EXTREME WEATHER SHELTERING, LIFE SKILLS SUPPORT, AND TRANSPORTATION, ENSURING COMPREHENSIVE CARE FOR INDIVIDUALS IN CRISIS. MOST NOTABLY, FIREHOUSE MINISTRIES SUCCESSFULLY TRANSITIONED 139 INDIVIDUALS INTO STABLE HOUSING, REINFORCING ITS MISSION TO PROVIDE NOT ONLY IMMEDIATE RELIEF BUT LONG-TERM PATHWAYS TO INDEPENDENCE.

Program 2

Expenses: $1,571,545

EMERGENCY SHELTER: IN 2024, FIREHOUSE MINISTRIES SERVED 2,720 UNDUPLICATED INDIVIDUALS, OFFERING SHELTER AND VITAL RESOURCES TO THOSE EXPERIENCING HOMELESSNESS. TO COMBAT FOOD INSECURITY, FIREHOUSE MINISTRIES SERVED 105,709 MEALS AND DISTRIBUTED 722 FOOD BOXES, WHILE 11,824 HYGIENE ITEMS AND CLOTHING ARTICLES HELPED MEET BASIC NEEDS. WITH AN AVERAGE NIGHTLY CENSUS OF 100 GUESTS, CAPACITY WAS EXPANDED DURING SEVERE WEATHER TO PROTECT INDIVIDUALS AT INCREASED RISK.

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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 $3,790,398

Program Service Revenue $170,801

Investment Income $-70,008

Other Revenue $-70,836

TOTAL REVENUE $3,820,355

Expense Breakdown

Grants Paid $1,612,038

Salaries & Benefits $1,487,771

Fundraising Expenses $87,981

Program Expenses $3,745,940

Other Expenses $991,776

TOTAL EXPENSES $4,091,585

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,820,355	$4,863,446	-0.2%
Expenses	$4,091,585	$4,289,483	0.0%
Net Income	$-271,230	$573,963	-1.5%

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

2500

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

$105,776

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATT CAHILL	DIRECTOR	2.00	Director	$0	$0	$0
NICK D'ALESSANDRO	DIRECTOR	2.00	Director	$0	$0	$0
BRETT FAUCETT	DIRECTOR	2.00	Director	$0	$0	$0
DR TED GREER	DIRECTOR	2.00	Director	$0	$0	$0
SHARON HAUKOHL	DIRECTOR	2.00	Director	$0	$0	$0
KATHRYN HOWARD	DIRECTOR	2.00	Director	$0	$0	$0
BRUCE LANIER	DIRECTOR	2.00	Director	$0	$0	$0
VERLON SALLEY	DIRECTOR	2.00	Director	$0	$0	$0
VICTOR SMITH	DIRECTOR	2.00	Director	$0	$0	$0
BRIAN WAHL	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM MARINOS	TREASURER	4.00	Officer Director	$0	$0	$0
JENNIFER MCGAHEY	SECRETARY	4.00	Officer Director	$0	$0	$0
JONATHAN COE	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
RICKY MISKELLEY	PRESIDENT	4.00	Officer Director	$0	$0	$0
NICOLE BOOMHOVER	EXECUTIVE DIRECTOR	40.00	Officer	$94,622	$11,154	$105,776

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	$3,820,355	$4,091,585	$8,462,421	$-271,230
2023	$4,863,446	$4,289,483	$8,751,516	$573,963
2022	$3,812,423	$3,776,579	$8,645,447	$35,844
2021	$3,578,316	$3,516,841	$9,100,577	$61,475
2020	$2,560,675	$2,815,215	$10,300,765	$-254,540
2019	$2,901,090	$2,492,850	$11,048,439	$408,240
2018	$7,100,913	$2,298,571	$7,409,531	$4,802,342