COVE HOUSE EMERGENCY HOMELESS SHEL… - 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

1995

Legal Domicile

Principal Officer

BRIAN HAWKINS

Phone

2545474673

Tax Period

2023-01-01 to 2023-12-31

COVE HOUSE EMERGENCY HOMELESS SHELTER INC, founded in 1995, is a small nonprofit in the Human Services sector that reported $773K in total revenue in fiscal year 2023. Revenue surged 269% from the prior year, signaling strong growth momentum. The organization ran a surplus of $546K, a strong 71% operating margin.

Mission

PROVIDE TEMPORARY HOUSING TO DISPLACED AND HOMELESS INDIVIDUALS

Program Service Accomplishments

Program 1

Expenses: $198,589

PROVIDE TEMPORARY HOUSING FOR THE HOMELESS

Program 2

Expenses: $2,760

PROVIDE MEALS, EDUCATIONAL AND TRANSPORTATION ASSISTANCE

Program 3

Expenses: $2,663

FREE CLINIC TO PROVIDE MEDICAL CARE FOR HOMELESS

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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 $775,770

Program Service Revenue $0

Investment Income $2,257

Other Revenue $-5,056

TOTAL REVENUE $772,971

Expense Breakdown

Grants Paid $0

Salaries & Benefits $119,248

Fundraising Expenses $0

Program Expenses $204,012

Other Expenses $108,186

TOTAL EXPENSES $227,434

Year-over-Year Comparison

	2023	2022	Change
Revenue	$772,971	$209,430	+2.7%
Expenses	$227,434	$156,763	+0.5%
Net Income	$545,537	$52,667	+9.4%

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

Volunteers

N/A

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

$61,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN HAWKINS	EXECUTIVE DIRECTOR	40.00	Director	$61,800	$0	$61,800
RITA HOGAN	CHAIRMAN	30.00	Officer Director	$0	$0	$0
DONNA HOWARD	TREASURER	30.00	Officer Director	$0	$0	$0
DELSINA WEST	DIRECTOR	30.00	Director	$0	$0	$0
INEZ FAISON	DIRECTOR	30.00	Director	$0	$0	$0
SHARON TABOR	DIRECTOR	30.00	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	$772,971	$227,434	$732,797	$545,537
2022	$209,430	$156,763	$186,790	$52,667
2021	$153,533	$147,597	$133,748	$5,936
2020	$113,413	$159,161	$127,720	$-45,748
2019	$180,768	$146,484	$173,105	$34,284

COVE HOUSE EMERGENCY HOMELESS SHELTER INC