SAN CARLOS DEVELOPMENT CORPORATION (EIN 943165510) - 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

1992

Legal Domicile

Principal Officer

MICHAEL GARVEY

Phone

6504620400

Tax Period

2023-01-01 to 2023-12-31

SAN CARLOS DEVELOPMENT CORPORATION, founded in 1992, is a community nonprofit in the Housing & Shelter sector that reported $8.9M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $8.1M left a modest 9% surplus.

Mission

ASSISTED HOUSING FOR THE ELDERLY AND DEMENTIA INDIVIDUALS

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $8,884,023

Investment Income $28,295

Other Revenue $0

TOTAL REVENUE $8,912,318

Expense Breakdown

Grants Paid $13,060

Salaries & Benefits $5,223,339

Fundraising Expenses $0

Program Expenses $6,263,812

Other Expenses $2,843,426

TOTAL EXPENSES $8,079,825

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,912,318	$8,159,643	+0.1%
Expenses	$8,079,825	$7,798,936	+0.0%
Net Income	$832,493	$360,707	+1.3%

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

105

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

$299,596

Total Directors

$299,596

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT EVANS	EXECUTIVE DI	40.00	Officer Director	$271,166	$28,430	$299,596
MARIBEL CARINO	HEALTH SERVI	40.00	Highest	$155,930	$20,140	$176,070
CHRISTINE ACKERMAN	SECRETARY	N/A	Officer Director	$0	$0	$0
STEVE DIVNEY	DIRECTOR	N/A	Director	$0	$0	$0
MICHAEL GARVEY	PRESIDENT	N/A	Officer Director	$0	$0	$0
CHRISTINE KING	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
JERRY KRAUSE	TREASURER	N/A	Officer Director	$0	$0	$0
GREG MCCARTHY	DIRECTOR	N/A	Director	$0	$0	$0
NEKAYA NACHMANN	DIRECTOR	N/A	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	No data	No data	No data	No data
2023	$8,912,318	$8,079,825	$22,238,039	$832,493
2022	$8,159,643	$7,798,936	$21,937,926	$360,707
2021	$7,865,627	$7,295,931	$21,724,866	$569,696
2020	$7,547,392	$7,063,169	$21,497,769	$484,223
2019	$7,556,628	$6,967,462	$21,108,458	$589,166
2018	$7,306,643	$6,545,368	$20,778,154	$761,275

SAN CARLOS DEVELOPMENT CORPORATION