THE COVE (EIN 912051659) - 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

Glenn Schmekel

Phone

5099970227

Tax Period

2025-01-01 to 2025-12-31

THE COVE, founded in 1998, is a small nonprofit in the Human Services sector that reported $655K in total revenue in fiscal year 2025. Revenue surged 83% from the prior year, signaling strong growth momentum. The organization ran a surplus of $377K, a strong 58% operating margin.

Mission

To operate and fund a food bank and to give aid and assistance to people in need in the Methow Valley of Washington state.

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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 (2025)

Revenue Breakdown

Contributions & Grants $625,690

Program Service Revenue $0

Investment Income $29,281

Other Revenue $0

TOTAL REVENUE $654,971

Expense Breakdown

Grants Paid $109,575

Salaries & Benefits $77,587

Fundraising Expenses $1,135

Program Expenses $242,787

Other Expenses $91,019

TOTAL EXPENSES $278,181

Year-over-Year Comparison

	2025	2024	Change
Revenue	$654,971	$357,183	+0.8%
Expenses	$278,181	$249,529	+0.1%
Net Income	$376,790	$107,654	+2.5%

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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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

$54,380

Total Directors

$24,000

Key Employees

$70,800

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Glenn Schmekel	Executive Director	16	Officer Key Emp	$28,800	$0	$28,800
Diana Hoffman	Director	20	Director Key Emp	$24,000	$0	$24,000
Rick Lewis	Chairman	12	Officer Key Emp	$18,000	$0	$18,000
Carole Stusinski	Treasurer	5	Officer	$4,100	$0	$4,100
Karen Dahl	Vice Chairman	5	Officer	$3,480	$0	$3,480
Darlene Schoenwald	Director	5	Director	$0	$0	$0
Jerry Heller	Director	5.00	Director	$0	$0	$0
Mark Tesch	Director	5	Director	$0	$0	$0
Paul Schmekel	Director	5	Director	$0	$0	$0
Belva Hoffman	Director	5	Director	$0	$0	$0
Sue Gottula	Secretary	5	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
2025	$654,971	$278,181	$2,250,404	$376,790
2024	$357,183	$249,529	$1,819,045	$107,654
2023	$397,998	$253,404	$1,678,509	$144,594
2022	$310,549	$246,228	$1,498,093	$64,321
2021	$437,840	$231,199	$1,514,068	$206,641
2020	$859,500	$362,294	$1,317,789	$497,206
2019	$339,514	$295,751	$814,868	$43,763
2018	$297,749	$287,143	$762,128	$10,606

THE COVE