Spiritco Inc (EIN 223142301) - 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

1992

Legal Domicile

Principal Officer

Reverend Zenetta Armstrong

Phone

6172980577

Tax Period

2023-01-01 to 2023-12-31

Spiritco Inc, founded in 1992, is a small nonprofit in the Community Improvement sector that reported $285K in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. The organization ran a surplus of $62K, a strong 22% operating margin.

Mission

Spiritco was organized as a 501(c)2 subsidiary of the Church of the Holy Spirit. Its major activity is leasing property to a major human services agency (ABCD) which provides community enrichment services.

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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 $234,548

Investment Income $50,376

Other Revenue $0

TOTAL REVENUE $284,924

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $222,437

TOTAL EXPENSES $222,437

Year-over-Year Comparison

	2023	2022	Change
Revenue	$284,924	$321,197	-0.1%
Expenses	$222,437	$292,717	-0.2%
Net Income	$62,487	$28,480	+1.2%

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

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

$82,527

Total Directors

$82,527

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rev Zenetta Armstrong	President	5.00	Officer Director	$0	$0	$82,527
Louise Gant	Treasurer	1.00	Officer Director	$0	$0	$0
Reinaldo Ford	Director	1.00	Director	$0	$0	$0
Robert MH Branch	Director	1.00	Director	$0	$0	$0
Ray Elliott	Clerk	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	$284,924	$222,437	$2,706,684	$62,487
2022	$321,197	$292,717	$2,579,891	$28,480
2021	$262,461	$218,915	$2,884,834	$43,546
2020	$295,526	$201,110	$2,756,753	$94,416

Spiritco Inc