ANNUNCIATION HEIGHTS

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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

2017

Legal Domicile

Principal Officer

DAVID KOLBET

Phone

9705865689

Tax Period

2024-07-01 to 2025-04-30

ANNUNCIATION HEIGHTS, founded in 2017, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $3.0M exceeded revenue, resulting in a 88% operating deficit.

Mission

ANNUNCIATION HEIGHTS IS A CATHOLIC YOUTH AND FAMILY CAMP NESTLED AT THE BASE OF LONGS PEAK IN THE HEART OF COLORADO'S MAJESTIC ROCKY MOUNTAINS. WE SEEK TO GLORIFY GOD BY LEADING OUR GUESTS INTO THE DEPTH AND MYSTERY OF A PERSONAL FRIENDSHIP WITH JESUS AND HIS CHURCH, UNDER THE PATRONAGE OF MARY, OUR GOAL IS TO AWAKEN AND RESTORE THE HEARTS OF CATHOLICS TO THE JOY OF KNOWING AND LIVING THE CATHOLIC CHRISTIAN LIFE. ANNUNCIATION HEIGHTS PROVIDES A MOUNTAIN LOCATION FOR YOUTH, YOUNG ADULTS, AND FAMILIES TO CAMP AND RETREAT. THE GOAL OF THE ORGANIZATION IS TO ALLOW OUR GUESTS A PLACE TO GROW IN THEIR RELATIONSHIP WITH GOD, THEMSELVES, EACH OTHER AND CREATION. WE DO THIS BY OFFERING A VARIETY OF CAMPING, RETREAT, AND OUTDOOR EDUCATION PROGRAMS FOR PRIMARY, MIDDLE SCHOOL, HIGH SCHOOL AND COLLEGE STUDENTS THROUGHOUT THE YEAR. IN THE SUMMER, WE OFFER FAMILY CAMPS AND CAMPS FOR BOYS AND GIRLS. WE ALSO HOST VARIOUS GROUP RETREATS ON WEEKENDS YEAR-ROUND.

Program Service Accomplishments

Program 1

Expenses: $2,688,209 Revenue: $916,315

DURING 2025, WE CLOSED OUR YEAR ON APRIL 30, 2025 INSTEAD OF JUNE 30, 2025 SO THAT WE COULD RECORD OUR SUMMER ACTIVITY IN THE SAME FISCAL YEAR. AS A RESULT, THE FY2025 YEAR RUNS FROM JULY 1, 2024 TO APRIL 30, 2025. FOR OUR YOUTH AND FAMILY CAMP PROGRAMING, REVENUE TOTALED 254,164 WHILE EXPENSES WERE 198,379. GUEST GROUP REVENUE TOTALED 351,774 WHILE INCURRING DIRECT EXPENSES OF 30,914. OUR OUTDOOR EDUCATION PROGRAM EXPERIENCED 283,366 IN REVENUE AND 80,867 IN EXPENSES. MANY OF OUR EXPENSES ARE NOT DIRECTLY ALLOCATED TO OUR PROGRAM SERVICES SINCE THEY ARE SHARED ACROSS VARIOUS PROGRAMS. THEREFORE, OUR TOTAL REVENUE WAS 1,437,220 WHILE OUR TOTAL EXPENSES WERE 2,975,747.

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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 $664,407

Program Service Revenue $908,004

Investment Income $1,425

Other Revenue $8,311

TOTAL REVENUE $1,582,147

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,124,618

Fundraising Expenses $117,724

Program Expenses $2,688,209

Other Expenses $1,809,692

TOTAL EXPENSES $2,975,977

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,582,147	$1,397,977	+0.1%
Expenses	$2,975,977	$2,922,379	+0.0%
Net Income	$-1,393,830	$-1,524,402	-0.1%

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

100

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

$118,628

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NATHAN GLASSMAN FROM 012024	EXE. DIRECTO	40.00	Officer	$89,846	$28,782	$118,628
KEITH PARSONS	PRESIDENT	1.00	Officer Director	$0	$0	$0
DAVID KOLBET	TREASURER	1.00	Officer Director	$0	$0	$0
MOST REV SAMUEL J AQUILA	DIRECTOR	1.00	Director	$0	$0	$0
VERY REV RANDY M DOLLINS VG	DIRECTOR	1.00	Director	$0	$0	$0
BUD LABER	DIRECTOR	1.00	Director	$0	$0	$0
BETSY POELL	DIRECTOR	1.00	Director	$0	$0	$0
VERY REV MATTHEW BOOK VF	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BIXENMAN	DIRECTOR	1.00	Director	$0	$0	$0
KENDRA AGUILAR	DIRECTOR	1.00	Director	$0	$0	$0
MSGR THOMAS FRYAR	DIRECTOR	1.00	Director	$0	$0	$0
ROGER POMAINVILLE	DIRECTOR	1.00	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
2025	$1,582,147	$2,975,977	$6,309,977	$-1,393,830
2024	$1,397,977	$2,922,379	$6,069,352	$-1,524,402
2023	$1,341,275	$2,709,799	$4,259,253	$-1,368,524
2022	$1,513,319	$2,499,638	$4,364,773	$-986,319
2021	$835,834	$1,895,186	$4,116,985	$-1,059,352
2020	$587,226	$1,818,308	$4,485,608	$-1,231,082
2019	$728,872	$1,840,464	$4,150,178	$-1,111,592
2018	$70,728	$462,676	$3,800,168	$-391,948