BAY FOREST COMMUNITY ASSOCIATION

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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

CLIFFORD WESTBELD

Phone

7138224361

Tax Period

2024-01-01 to 2024-12-31

BAY FOREST COMMUNITY ASSOCIATION, founded in 1985, is a community nonprofit in the Housing & Shelter sector that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 59% from the prior year, signaling strong growth momentum. The organization ran a surplus of $358K, a strong 31% operating margin.

Mission

Common area maintenance. Maintenance and operation of the common areas of the organizaton. The organization servces 836 residences.

Program Service Accomplishments

Program 1

Expenses: $796,511

COMMON AREA MAINTENECE, MAINTENANCE AND OPERATION OF THE COMMON AREA FOR BENEFIT AND WELFARE OF THE COMMUNITY (836 RESIDENCES)

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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 $1,146,358

Investment Income $7,655

Other Revenue $0

TOTAL REVENUE $1,154,013

Expense Breakdown

Grants Paid $0

Salaries & Benefits $89,466

Fundraising Expenses $0

Program Expenses $796,511

Other Expenses $707,045

TOTAL EXPENSES $796,511

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,154,013	$725,920	+0.6%
Expenses	$796,511	$712,050	+0.1%
Net Income	$357,502	$13,870	+24.8%

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

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
MARLA SCHMIDT	TREASURER	0.00	Officer	$0	$0	$0
CLIFFORD WESTBELD	PRESIDENT	10.00	Officer	$0	$0	$0
DANA WILLIAMS	VICE PRESIDENT	10.00	Officer	$0	$0	$0
JOHN AUGUSTO	AT LARGE	10.00	Officer	$0	$0	$0
ELIZABETH SNELL	SECRETARY	10.00	Officer	$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	$1,154,013	$796,511	$1,031,879	$357,502
2023	$725,920	$712,050	$997,919	$13,870
2022	$707,661	$611,492	$1,022,440	$96,169
2021	$712,357	$705,726	$871,985	$6,631
2020	$674,261	$614,631	$681,713	$59,630