WESTBANK HOMEOWNERS ASSOCIATION 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

1974

Principal Officer

VIRGINIA HURLBUT

Phone

2816319808

Tax Period

2023-01-01 to 2023-12-31

WESTBANK HOMEOWNERS ASSOCIATION INC, founded in 1974, is a small nonprofit that reported $487K in total revenue in fiscal year 2023. Expenses of $467K left a modest 4% surplus.

Mission

PROVIDE FOR THE HEALTH, SAFETY AND WELFARE OF THE COMMUNITY RESIDENTS.

Program Service Accomplishments

Program 1

Expenses: $72,152

UTILITIES FOR STREET LIGHTING AND RECREATION CENTER.

Program 2

Expenses: $69,260

MAINTENANCE AND UPKEEP OF PUBLIC LANDSCAPE AND GREEN AREAS.

Program 3

Expenses: $127,703

MAINTENANCE AND OPERATION OF POOL AND RECREATION CENTER.

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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 $0

Program Service Revenue $440,650

Investment Income $10,875

Other Revenue $35,234

TOTAL REVENUE $486,759

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $328,117

Other Expenses $466,738

TOTAL EXPENSES $466,738

Year-over-Year Comparison

	2023	2022	Change
Revenue	$486,759	$471,431	+0.0%
Expenses	$466,738	$399,045	+0.2%
Net Income	$20,021	$72,386	-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

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
SHIVER NOLAN	TREASURER	2.00	Officer Director	$0	$0	$0
JOANNE THACKER	MEMEBER AT LARGE	2.00	Director	$0	$0	$0
VIRGINIA HURLBUT	PRESIDENT	2.00	Officer Director	$0	$0	$0
JAMES PHILLIPS	VICE PRESIDENT - SECRETARY	2.00	Officer 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	No data	No data	No data	No data
2023	$486,759	$466,738	$968,885	$20,021
2022	$471,431	$399,045	$972,324	$72,386
2021	$454,461	$402,315	$934,575	$52,146
2019	$460,530	$450,621	$841,670	$9,909
2018	$460,373	$437,036	$826,943	$23,337