NW FURNITURE BANK (EIN 223939593) - 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

2007

Legal Domicile

Principal Officer

JOE CARMAN

Phone

2533023868

Tax Period

2023-01-01 to 2023-12-31

NW FURNITURE BANK, founded in 2007, is a community nonprofit in the Human Services sector that reported $4.5M in total revenue in fiscal year 2023. Revenue decreased 20% compared to the prior year. Expenses of $4.2M left a modest 7% surplus.

Mission

HELPS TO RESTORE HOPE, DIGNITY AND STABILITY BY RECYCLING DONATED FURNITURE TO PEOPLE IN NEED.

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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 $3,073,993

Program Service Revenue $1,404,051

Investment Income $44,376

Other Revenue $-51,350

TOTAL REVENUE $4,471,070

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,642,673

Fundraising Expenses $300,509

Program Expenses $3,622,227

Other Expenses $2,509,102

TOTAL EXPENSES $4,151,775

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,471,070	$5,585,825	-0.2%
Expenses	$4,151,775	$5,090,805	-0.2%
Net Income	$319,295	$495,020	-0.4%

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

577

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

$120,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOE CARMAN	CHAIR	1.00	Officer Director	$0	$0	$0
GERRIT NYLAND	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SHIRLEY ECLIPSE-CHINERY	TREASURER	1.00	Officer Director	$0	$0	$0
MADDIE PATTIN	SECRETARY	1.00	Officer Director	$0	$0	$0
MEGAIN KEIM-SMITH	MEMBER	1.00	Director	$0	$0	$0
BETH THOMS	MEMBER	1.00	Director	$0	$0	$0
JEREMY SIMLER	EXECUTIVE DIRECTOR	40.00	Officer	$120,000	$0	$120,000

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	$4,471,070	$4,151,775	$4,336,028	$319,295
2022	$5,585,825	$5,090,805	$3,977,710	$495,020
2021	$3,639,881	$3,216,885	$3,492,586	$422,996
2020	$3,845,463	$3,315,126	$3,051,879	$530,337
2019	$4,462,568	$4,458,458	$2,551,408	$4,110
2018	$4,174,405	$3,848,403	$2,511,309	$326,002

NW FURNITURE BANK