MAGGIE'S WIGS4KIDS OF MICHIGAN INC (EIN 200374667) - 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

2003

Legal Domicile

Principal Officer

MARY VARNEY-BIELAT

Phone

5867726656

Tax Period

2023-01-01 to 2023-12-31

MAGGIE'S WIGS4KIDS OF MICHIGAN INC, founded in 2003, is a small nonprofit in the Human Services sector that reported $890K in total revenue in fiscal year 2023. Net assets of $1.8M represent 25 months of operating reserves.

Mission

MAGGIE'S WIGS 4 KIDS OF MICHIGAN WELLNESS CENTER PROVIDES HAIR REPLACEMENT UNITS AND SUPPORT SERVICES TO HELP THE SELF-ESTEEM OF MICHIGAN CHILDREN AS THEY JOURNEY THROUGH THEIR HEALTH CHALLENGE, EMPOWERING THEM TO LOOK AND FEEL BETTER.

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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 $767,581

Program Service Revenue $0

Investment Income $7,094

Other Revenue $115,181

TOTAL REVENUE $889,856

Expense Breakdown

Grants Paid $0

Salaries & Benefits $302,628

Fundraising Expenses $30,916

Program Expenses $803,859

Other Expenses $593,327

TOTAL EXPENSES $895,955

Year-over-Year Comparison

	2023	2022	Change
Revenue	$889,856	$876,196	+0.0%
Expenses	$895,955	$828,035	+0.1%
Net Income	$-6,099	$48,161	-1.1%

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

200

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

$81,953

Total Directors

$81,953

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY VARNEY-BIELAT	PRESIDENT, FOUNDER & CEO	40.00	Officer Director	$0	$1	$81,953
CHERYL COLLIER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
GRACE CRACCHIOLO	MEMBER AT LARGE	1.00	Director	$0	$0	$0
RON FREDERICK	SECRETARY	1.00	Officer Director	$0	$0	$0
STUART NATHAN	MEMBER AT LARGE	1.00	Director	$0	$0	$0
ANNE NICOLAZZO	MEMBER AT LARGE	1.00	Director	$0	$0	$0
KARLA ORLANDO	MEMBER AT LARGE	1.00	Director	$0	$0	$0
KEVIN POSTILL	MEMBER AT LARGE	1.00	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	$889,856	$895,955	$1,837,107	$-6,099
2022	$876,196	$828,035	$1,609,946	$48,161
2021	$911,958	$720,539	$1,557,249	$191,419
2021	$911,958	$720,539	$1,557,249	$191,419
2020	$694,436	$531,862	$1,415,132	$162,574
2019	$935,264	$572,130	$1,323,343	$363,134

MAGGIE'S WIGS4KIDS OF MICHIGAN INC