Metro Detroit Barber College (EIN 030575465) - 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

2007

Legal Domicile

Principal Officer

Raymond N Ware

Phone

3133424400

Tax Period

2024-01-01 to 2024-12-31

Metro Detroit Barber College, founded in 2007, is a small nonprofit in the Education sector that reported $552K in total revenue in fiscal year 2024. Revenue surged 35% from the prior year, signaling strong growth momentum. Expenses of $686K exceeded revenue, resulting in a 24% operating deficit.

Mission

Train Students to become Professional Barbers

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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 $0

Program Service Revenue $551,245

Investment Income $325

Other Revenue $0

TOTAL REVENUE $551,570

Expense Breakdown

Grants Paid $0

Salaries & Benefits $351,361

Fundraising Expenses $0

Program Expenses $241,927

Other Expenses $334,733

TOTAL EXPENSES $686,094

Year-over-Year Comparison

	2024	2023	Change
Revenue	$551,570	$409,819	+0.3%
Expenses	$686,094	$532,415	+0.3%
Net Income	$-134,524	$-122,596	+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

N/A

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

$27,508

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Raymond N Ware	President	40.00	Director	$27,508	$0	$27,508
Earl Ealy	Vice President	1.00	Officer	$0	$0	$0
Martin Zorn	Secretary	1.00	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
2024	$551,570	$686,094	$735,873	$-134,524
2023	$409,819	$532,415	$696,047	$-122,596
2022	$267,528	$348,074	$390,249	$-80,546
2021	$439,470	$500,498	$517,403	$-61,028
2020	$239,281	$120,140	$244,910	$119,141
2019	$211,933	$166,033	$115,207	$45,900
2018	$198,980	$200,661	$42,814	$-1,681

Metro Detroit Barber College