IRAAS RESIDENTIAL CARE INC (EIN 061737314) - 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

2010

Legal Domicile

Principal Officer

DR SADIQ B IKHARO

Phone

5102895066

Tax Period

2023-01-01 to 2023-12-31

IRAAS RESIDENTIAL CARE INC, founded in 2010, is a small nonprofit in the Human Services sector that reported $979K in total revenue in fiscal year 2023. Revenue fell 21% from the prior year — a significant decline worth monitoring.

Mission

PROVIDED RESIDENTIAL CARE, EDUCATION AND SUPERVISION FOR AMBULATORY PERSONS WITH DIAGNOSED DEVELOPMENTAL DISABILITIES AND MENTAL ILLNESS.

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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 $978,181

Investment Income $1,103

Other Revenue $0

TOTAL REVENUE $979,284

Expense Breakdown

Grants Paid $0

Salaries & Benefits $617,061

Fundraising Expenses $0

Program Expenses $873,284

Other Expenses $418,878

TOTAL EXPENSES $1,035,939

Year-over-Year Comparison

	2023	2022	Change
Revenue	$979,284	$1,240,236	-0.2%
Expenses	$1,035,939	$1,030,424	+0.0%
Net Income	$-56,655	$209,812	-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

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

$316,801

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMINAT D'JOHNS	CHIEF FINANCIAL OFFICER	20.00	Officer	$33,765	$0	$33,765
DR SADIQ B IKHARO	CHIEF EXECUTIVE OFFICER	40.00	Officer Highest	$148,950	$0	$148,950
CAELEENE ANTOINE	MEMBER	5.00	Officer	$0	$0	$0
ABDUL AZZIZ IKHARO	SECRETARY	36.00	Officer	$43,320	$0	$43,320
MYISHA LEWIS-REED	SECRETARY	10.00	Officer	$0	$0	$0
SHAFIK UMORU	PRESIDENT	5.00	Officer	$0	$0	$0
MARION BROWER	MEMBER	5.00	Officer	$40,020	$0	$40,020
DEBORAH LOCKHART	ADMINISTRATOR	40.00	Officer	$50,746	$0	$50,746

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
2023	$979,284	$1,035,939	$136,819	$-56,655
2022	$1,240,236	$1,030,424	$195,654	$209,812
2021	$1,034,400	$958,815	$158,688	$75,585
2020	$754,270	$815,043	$162,137	$-60,773
2019	$660,760	$641,398	$158,342	$19,362
2018	$584,844	$612,747	$132,135	$-27,903

IRAAS RESIDENTIAL CARE INC