PROFESSIONAL SERVICE ASSOCIATION

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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

1989

Legal Domicile

Principal Officer

RANDY CARNEY

Phone

8887778851

Tax Period

2024-01-01 to 2024-12-31

PROFESSIONAL SERVICE ASSOCIATION, founded in 1989, is a small nonprofit that reported $261K in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $299K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO PROMOTE THE HIGHEST STANDARDS OF QUALITY SERVICE IN THE APPLIANCE SERVICE INDUSTRY

Program Service Accomplishments

Program 1

THE PROFESSIONAL SERVICE ASSOCIATION PURPOSE IS TO BE THE VOICE OF INDEPENDENT SERVICE PROVIDERS AND TO ASSESS AND IDENTIFY INDUSTRY RELATED PROBLEMS AND PROVIDE SOLUTIONS. THE ASSOCIATION PROVIDES EDUCATIONAL TRAINING, CERTIFICATION, BUSINESS MANAGEMENT TRAINING, SUPPORT, AND FAIRNESS TO THE INDEPENDENT APPLIANCE SERVICE INDUSTRY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $19,150

Program Service Revenue $236,385

Investment Income $5,679

Other Revenue $0

TOTAL REVENUE $261,214

Expense Breakdown

Grants Paid $0

Salaries & Benefits $62,351

Fundraising Expenses $0

Other Expenses $236,786

TOTAL EXPENSES $299,137

Year-over-Year Comparison

	2024	2023	Change
Revenue	$261,214	$284,579	-0.1%
Expenses	$299,137	$282,560	+0.1%
Net Income	$-37,923	$2,019	-19.8%

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

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

$62,351

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RANDY CARNEY	Executive Dir.	40.00	Officer	$62,351	$0	$62,351
MIKE CALLAHAN	President	2.00	Officer Director	$0	$0	$0
CARMINE D'ALESSANDRO	Vice President	2.00	Officer Director	$0	$0	$0
LINDA KNUDSEN	Admin Vice Pres	2.00	Officer Director	$0	$0	$0
JOHN WILKINS JR	Director	2.00	Director	$0	$0	$0
CHUCK KRAMER	Director	2.00	Director	$0	$0	$0
PETE RATTIGAN	Director	2.00	Director	$0	$0	$0
GREG DOSTER	Director	2.00	Director	$0	$0	$0
HANS HANSEN JR	Director	2.00	Director	$0	$0	$0
DON HOLMAN	Director	2.00	Director	$0	$0	$0
RALPH WOLFF	Director	2.00	Director	$0	$0	$0
DON HARRIS	Director	2.00	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	$261,214	$299,137	$243,885	$-37,923
2023	$284,579	$282,560	$281,609	$2,019
2022	$224,023	$231,607	$279,590	$-7,584
2019	$297,072	$242,104	$183,980	$54,968
2018	$347,994	$271,578	$129,012	$76,416