INVERNESS HOMEOWNERS ASSOC INC (EIN 742898630) - 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

1998

Legal Domicile

Principal Officer

KENNETH GINDY

Phone

8664031588

Tax Period

2024-01-01 to 2024-12-31

INVERNESS HOMEOWNERS ASSOC INC, founded in 1998, is a small nonprofit in the Housing & Shelter sector that reported $557K in total revenue in fiscal year 2024. Expenses of $481K left a modest 14% surplus.

Mission

PROVIDE FOR THE MAINTENANCE PRESERVATION AND ARCHITECTURAL CONTROLS OF THE SUBDIVISION. THIS UNIFORM PLAN FOR DEVELOPMENT AND IMPROVEMENT ENSURES THE PRESERVATION OF SUCH UNIFORM PLAN FOR THE BENEFIT OF BOTH PRESENT AND FUTURE HOMEOWNERS, SURROUNDING NEIGHBORHOODS AND THE PUBLIC TO PROTECT AND ENHANCE THE QUALITY OF LIFE IN THE COMMUNITY.

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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 $0

Program Service Revenue $554,400

Investment Income $432

Other Revenue $1,936

TOTAL REVENUE $556,768

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $465,666

Other Expenses $481,066

TOTAL EXPENSES $481,066

Year-over-Year Comparison

	2024	2023	Change
Revenue	$556,768	$543,292	+0.0%
Expenses	$481,066	$575,606	-0.2%
Net Income	$75,702	$-32,314	-3.3%

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
BARRY BANKLER	DIRECTOR	6.00	Director	$0	$0	$0
ISRAEL FOGIEL	DIRECTOR	6.00	Director	$0	$0	$0
KENNETH GINDY	DIRECTOR	6.00	Director	$0	$0	$0
DREW ROY	DIRECTOR	6.00	Director	$0	$0	$0
MATTHEW STARR	DIRECTOR	6.00	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	$556,768	$481,066	$294,873	$75,702
2023	$543,292	$575,606	$196,020	$-32,314
2022	$527,840	$429,646	$216,133	$98,194
2021	$480,080	$442,975	$107,320	$37,105
2020	$510,487	$373,232	$144,940	$137,255

INVERNESS HOMEOWNERS ASSOC INC