LIFE CENTER ASSOCIATION (EIN 232269581) - 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

2013

Legal Domicile

Principal Officer

MICHAEL BRADFORD FORBES

Phone

6032965060

Tax Period

2023-10-01 to 2024-09-30

LIFE CENTER ASSOCIATION, founded in 2013, is a small nonprofit in the Housing & Shelter sector that reported $484K in total revenue in fiscal year 2023. Revenue surged 6780% from the prior year, signaling strong growth momentum. The organization ran a surplus of $245K, a strong 51% operating margin.

Mission

PROVIDE COOPERATIVELY OWNED AND OPERATED HOUSING ON AN AT-COST BASIS FOR A TOTAL OF 50-55 LOW TO MODERATE INCOME INDIVIDUALS AT EIGHT PROPERTIES

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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 $277,250

Program Service Revenue $18,977

Investment Income $187,517

Other Revenue $0

TOTAL REVENUE $483,744

Expense Breakdown

Grants Paid $5,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $249,282

Other Expenses $233,533

TOTAL EXPENSES $238,533

Year-over-Year Comparison

	2023	2022	Change
Revenue	$483,744	$7,031	+67.8%
Expenses	$238,533	$136,334	+0.7%
Net Income	$245,211	$-129,303	-2.9%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HANIF PETERS-DAVIS	PRESIDENT	1.00	Officer Director	$0	$0	$0
ALEXANDRA MILLARD	SECRETARY	1.00	Officer	$0	$0	$0
MICHAEL BRADFORD FORBES	TREASURER	1.00	Officer	$0	$0	$0
DREAMANE FRANCOIS	DIRECTOR	1.00	Officer Director	$0	$0	$0
ANDREW COLLINS	DIRECTOR	1.00	Officer Director	$0	$0	$0
NUNA ULISES	DIRECTOR	1.00	Officer 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	$483,744	$238,533	$625,901	$245,211
2024	$206,494	$261,283	$631,736	$-54,789
2022	$512,476	$131,910	$577,407	$380,566

LIFE CENTER ASSOCIATION