LIFES POTENTIAL SERVICES INC

EIN: 201643998 501(c)(3) Youth Development

Westminster, MD

Total Revenue
$324,960
Total Expenses
$331,848
Total Assets
$158,921
Net Assets
$79,017
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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
2004
Legal Domicile
MD
Phone
4432898149
Tax Period
2024-01-01 to 2024-12-31

LIFES POTENTIAL SERVICES INC, founded in 2004, is a small nonprofit in the Youth Development sector that reported $325K in total revenue in fiscal year 2024. Revenue fell 47% from the prior year — a significant decline worth monitoring.

Mission

substance abuse counseling center

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $324,960
Investment Income $0
Other Revenue $0
TOTAL REVENUE $324,960

Expense Breakdown

Grants Paid $0
Salaries & Benefits $42,269
Fundraising Expenses $0
Other Expenses $289,579
TOTAL EXPENSES $331,848

Year-over-Year Comparison

2024 2023 Change
Revenue $324,960 $618,682 -0.5%
Expenses $331,848 $559,506 -0.4%
Net Income $-6,888 $59,176 -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

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Governance

Voting Members
3
Independent Members
3
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
1
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KAREN BYRD PRESIDENT 40.00
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 $324,960 $331,848 $158,921 $-6,888
2023 $618,682 $559,506 $140,222 $59,176
2022 $486,246 $528,742 $114,476 $-42,496
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