Westover Cove Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 183,463 | 263,214 | −79,751 | -19.1 | 17% |
| 2021 | 188,262 | 201,218 | −12,956 | -25.7 | 25% |
| 2022 | 194,467 | 238,838 | −44,371 | -23.9 | 25% |
| 2023 | 187,841 | 238,325 | −50,484 | -26.5 | 23% |
In its most recent public year (2023), this organization spent $50,484 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-26.5 months), down from -19.1 in 2020. Staff pay was 23% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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