BORREGO COMMUNITY DEVELOPMENT CORP… - 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

2023

Legal Domicile

Principal Officer

ROB OSWALT

Phone

7608104469

Tax Period

2024-04-01 to 2025-03-31

BORREGO COMMUNITY DEVELOPMENT CORPORATION, founded in 2023, is a small nonprofit in the Community Improvement sector that reported $599K in total revenue in fiscal year 2024. Revenue fell 77% from the prior year — a significant decline worth monitoring. Expenses of $553K left a modest 8% surplus.

Mission

THE SPECIFIC PURPOSE OF THIS CORPORATION IS TO OPERATE AS A SUPPORTING ORGANIZATION OF BORREGO VALLEY ENDOWMENT FUND, INC. A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION (BVEF), THROUGH ACTIVITIES THAT BENEFIT THE GREATER BORREGO SPRINGS CALIFORNIA AREA AND ENHANCE THE QUALITY OF LIFE IN THE REGION.

Program Service Accomplishments

Program 1

Expenses: $334,968

THE SPECIFIC PURPOSE OF THIS CORPORATION IS TO OPERATE AS A SUPPORTING ORGANIZATION OF BORREGO VALLEY ENDOWMENT FUND, INC., A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION ("BVEF"), THROUGH...

THE SPECIFIC PURPOSE OF THIS CORPORATION IS TO OPERATE AS A SUPPORTING ORGANIZATION OF BORREGO VALLEY ENDOWMENT FUND, INC., A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION ("BVEF"), THROUGH ACTIVITIES THAT BENEFIT THE GREATER BORREGO SPRINGS CALIFORNIA AREA AND ENHANCE THE QUALITY OF LIFE IN THE REGION, INCLUDING (I) PROMOTION OF A DIVERSE AND VIBRANT ECONOMY BY FACILITATING AND SUPPORTING INVESTMENT, LOCAL BUSINESSES, AND LOCAL ENTREPRENEURSHIP, AND (II) SUPPORT OF THE ESTABLISHMENT AND OPERATION OF CIVIC AND SOCIAL PROGRAMS THAT ADDRESS THE NEEDS OF FAMILIES, SENIOR CITIZENS, YOUTH AND DISADVANTAGED INDIVIDUALS SO THAT ALL CAN FULLY PARTICIPATE IN THE BORREGO SPRINGS ECONOMY.

Program 2

Expenses: $205,699

OPERATION OF THRIFT STORE.

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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 $697

Program Service Revenue $0

Investment Income $1,429

Other Revenue $597,272

TOTAL REVENUE $599,398

Expense Breakdown

Grants Paid $20,000

Salaries & Benefits $178,478

Fundraising Expenses $0

Program Expenses $540,667

Other Expenses $354,749

TOTAL EXPENSES $553,227

Year-over-Year Comparison

	2024	2023	Change
Revenue	$599,398	$2,632,604	-0.8%
Expenses	$553,227	$118,799	+3.7%
Net Income	$46,171	$2,513,805	-1.0%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID GARMON	PRESIDENT	5.00	Officer Director	$0	$0	$0
TIM COHELAN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
ROB OSWALT	TREASURER	2.00	Officer Director	$0	$0	$0
SYLVANA MEEKS	SECRETARY	2.00	Officer Director	$0	$0	$0
TAMMY BAKER	DIRECTOR	2.00	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	$599,398	$553,227	$2,847,148	$46,171
2024	$2,632,604	$118,799	$2,556,256	$2,513,805

BORREGO COMMUNITY DEVELOPMENT CORPORATION