Corazon Ministries Inc

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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

1999

Legal Domicile

Principal Officer

Erika Borrego

Phone

2102268341

Tax Period

2023-01-01 to 2023-12-31

Corazon Ministries Inc, founded in 1999, is a community nonprofit in the Human Services sector that reported $2.1M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum.

Mission

To provide support to people experiencing homelessness and to people who are marginalized, suffering from trauma, mental illness, or addiction, to enhance mind, body, spirit, creativity and community.

Program Service Accomplishments

Program 1

Expenses: $423,622

Corazon Day Center and Resource HUB Provides warm meals and showers with Christian Assistance Ministry, ID recovery, respite, street outreach, and case management.

Program 2

Expenses: $467,794

Corazon Harm Reduction Outreach and Drop-In An effort to aid clients that are suffering from drug addiction and other forms of chemical dependencies. Peer support and recovery specialists assist...

Corazon Harm Reduction Outreach and Drop-In An effort to aid clients that are suffering from drug addiction and other forms of chemical dependencies. Peer support and recovery specialists assist those in need by providing guidance into the many pathways of recovery available. The program is free of charge and is participant-centered that fits the needs of those served through needle exchange, harm reduction education, medical care, HIV/HEPC testing, cash management, and recovery coaching.

Program 3

Expenses: $150,144

Corazon Medical Clinic Operates two times a week and provides basic medical care by local doctors, nurses, practitioners, and students. The clinic is free and offers some pharmaceutical needs.

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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 $2,053,566

Program Service Revenue $0

Investment Income $2,453

Other Revenue $88,487

TOTAL REVENUE $2,144,506

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,381,018

Fundraising Expenses $0

Program Expenses $1,744,707

Other Expenses $752,006

TOTAL EXPENSES $2,133,024

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,144,506	$1,686,114	+0.3%
Expenses	$2,133,024	$2,021,900	+0.1%
Net Income	$11,482	$-335,786	-1.0%

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

655

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

$100,065

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Erika Borrego	Executive Director	040.00	Officer Highest	$100,065	$0	$100,065
David Stone	Board Member	004.00	Officer Director	$0	$0	$0
Phil Watkins	Vice Chairperson	002.00	Officer Director	$0	$0	$0
Heather Ryniker	Treasurer	002.00	Officer Director	$0	$0	$0
Audrey Laird	Chairperson	002.00	Officer Director	$0	$0	$0
Brian Dillard	Secretary	001.00	Director	$0	$0	$0
Colleen Bridger	Board Member	001.00	Director	$0	$0	$0
Edith De Vilbiss	Board Member	001.00	Director	$0	$0	$0
Sandra Fuentes	Board Member	001.00	Director	$0	$0	$0
Sandee Bryan Marion	Board Member	001.00	Director	$0	$0	$0
Cynthia Engstrom	Ex-Officio	001.00	Director	$0	$0	$0
Bethany Sommers	Ex-Officio	001.00	Director	$0	$0	$0
Danny Flores	Board Member	001.00	Director	$0	$0	$0
Bill Day	Board Member	001.00	Director	$0	$0	$0
Leroy Kroll	Board member	001.00	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
2024	No data	No data	No data	No data
2023	$2,144,506	$2,133,024	$692,700	$11,482
2022	$1,686,114	$2,021,900	$809,032	$-335,786
2021	$1,095,516	$517,391	$764,434	$578,125
2020	$204,128	$223,802	$106,176	$-19,674