THE SUMMIT AT EATON SENIOR COMMUNITIES

EIN: 742471331 501(c)(3)

LAKEWOOD, CO

Total Revenue
$334
Total Expenses
$357,868
Total Assets
N/A
Net Assets
N/A
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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
1987
Legal Domicile
CO
Principal Officer
DAVID SMART
Phone
3039373000
Tax Period
2018-10-01 to 2019-09-30

THE SUMMIT AT EATON SENIOR COMMUNITIES, founded in 1987, is a micro nonprofit that reported $334 in total revenue in fiscal year 2018. Revenue fell 100% from the prior year — a significant decline worth monitoring. Expenses of $358K exceeded revenue, resulting in a 107046% operating deficit.

Mission

TO PROVIDE HOUSING SERVICES FOR LOW TO MODERATE INCOME SENIORS.EFFECTIVE MAY 10, 2019, THE SUMMIT AT EATON SENIOR COMMUNITIES MERGED INTO THE RESIDENCES AT EATON SENIOR COMMUNITIES (RESC) WITH RESC AS THE SURVIVING ENTITY.

Program Service Accomplishments

Program 1
Expenses: $328,863

PROGRAM PROVIDED APPROXIMATELY 66 APARTMENTS FOR OCCUPANCY TO ELDERLY INDIVIDUALS OF LOW TO MODERATE INCOME. ON JUNE 1, 2018, THE ORGANIZATION CEASED OPERATIONS IN PREPARATION FOR THE REHABILITATION...

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PROGRAM PROVIDED APPROXIMATELY 66 APARTMENTS FOR OCCUPANCY TO ELDERLY INDIVIDUALS OF LOW TO MODERATE INCOME. ON JUNE 1, 2018, THE ORGANIZATION CEASED OPERATIONS IN PREPARATION FOR THE REHABILITATION OF THE EXISTING BUILDING INTO SIXTY-FOUR MARKET-RATE APARTMENT HOMES FOR SENIORS. THE REHABILITATED BUILDING WILL BE KNOWN AS THE SUMMIT AT EATON SENIOR COMMUNITIES.EFFECTIVE MAY 10, 2019, THE SUMMIT AT EATON SENIOR COMMUNITIES MERGED INTO THE RESIDENCES AT EATON SENIOR COMMUNITIES (RESC) WITH RESC AS THE SURVIVING ENTITY.

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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%)

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Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $334
Other Revenue $0
TOTAL REVENUE $334

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $328,863
Other Expenses $357,868
TOTAL EXPENSES $357,868

Year-over-Year Comparison

2018 2017 Change
Revenue $334 $968,393 -1.0%
Expenses $357,868 $1,751,691 -0.8%
Net Income $-357,534 $-783,298 -0.5%
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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Governance

Voting Members
10
Independent Members
10
Employees
N/A
Volunteers
20

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
4
$170,110
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RAND MORITZKY CHAIRMAN 4.00
Officer Director
$0 $0 $0
SANDRA REYNOLDS VICE CHAIRMAN 4.00
Officer Director
$0 $0 $0
RICHARD WYSE SEC/TREASURER 4.00
Officer Director
$0 $0 $0
SHERI FILAK-TAYLOR DIRECTOR 4.00
Director
$0 $0 $0
BILL BRUMMETT DIRECTOR 4.00
Director
$0 $0 $0
JENNIFER VAGHER DIRECTOR 4.00
Director
$0 $0 $0
SANDY BOWLIN DIRECTOR 4.00
Director
$0 $0 $0
DAN KULLAS DIRECTOR 4.00
Director
$0 $0 $0
ERIN O'BRRIEN DIRECTOR 4.00
Director
$0 $0 $0
SHAE CLARK DIRECTOR 4.00
Director
$0 $0 $0
DAVID SMART PRESIDENT/CEO 40.00
Officer
$0 $9,600 $170,110
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
2019 $334 $357,868 No data $-357,534
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