Life Enrichment Center of Norfolk (EIN 043751345) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2003

Legal Domicile

Principal Officer

KEVIN H TURPIN

Phone

7576236001

Tax Period

2025-01-01 to 2025-12-31

LIFE ENRICHMENT CENTER OF NORFOLK, founded in 2003, is a small nonprofit in the Education sector that reported $278K in total revenue in fiscal year 2018. Revenue surged 30% from the prior year, signaling strong growth momentum. The organization ran a surplus of $73K, a strong 26% operating margin.

Mission

The Life Enrichment Center mobilizes and deploys trained volunteer tutors to provide one-to-one literacy support for elementary-age students in Title I schools primarily throughout Virginia. Its primary activities include operating school-based literacy labs and coordinating weekly tutoring partnerships that help at-risk students improve reading proficiency.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $287,034

Program Service Revenue $0

Investment Income $3,261

Other Revenue $90,408

TOTAL REVENUE $380,703

Expense Breakdown

Grants Paid $37,937

Salaries & Benefits $163,147

Fundraising Expenses $14,271

Program Expenses $281,265

Other Expenses $147,501

TOTAL EXPENSES $348,585

Year-over-Year Comparison

	2025	2024	Change
Revenue	$380,703	$260,932	+0.5%
Expenses	$348,585	$320,250	+0.1%
Net Income	$32,118	$-59,318	-1.5%

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

381

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

$108,238

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN TURPIN	PRESIDENT	40.00	Officer	$108,238	$0	$108,238
DANIEL BACKENS	VICE-PRESIDENT	0.00	Officer	$0	$0	$0
MARK NOWAK	TREASURER	0.00	Officer	$0	$0	$0
MARK JOHNSON	DIRECTOR	0.00	Director	$0	$0	$0
DAVID GOOCHEE	DIRECTOR	0.00	Director	$0	$0	$0
CLEM ABRAMS	DIRECTOR	0.00	Director	$0	$0	$0
CHRIS DAVIS	DIRECTOR	0.00	Director	$0	$0	$0
DAVE CHENEY	DIRECTOR	0.00	Director	$0	$0	$0
MIKE CAROSI	DIRECTOR	0.00	Director	$0	$0	$0
JOHN NAPIER ESC	SECRETARY	0.00	Officer	$0	$0	$0
SHANNON KENDRICK	DIRECTOR	0.00	Director	$0	$0	$0
LATAUNJA JOHNSON	DIRECTOR	0.00	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	$380,703	$348,585	$219,428	$32,118
2024	$260,932	$320,250	$188,653	$-59,318
2023	$311,877	$296,955	$270,293	$14,922
2022	$201,868	$282,503	$253,116	$-80,635
2021	$312,070	$221,840	$334,301	$90,230
2020	$351,294	$185,707	$243,081	$165,587
2019	$190,821	$320,810	$96,163	$-129,989
2018	$277,903	$204,948	$211,746	$72,955

Life Enrichment Center of Norfolk