Progress Trust Inc (EIN 233017662) - 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

1999

Legal Domicile

Phone

2152327070

Tax Period

2023-07-01 to 2024-06-30

Progress Trust Inc, founded in 1999, is a small nonprofit in the Community Improvement sector that reported $767K in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $882K exceeded revenue, resulting in a 15% operating deficit.

Mission

ECONOMIC DEVELOPMENT

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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 $12,846

Investment Income $2,548

Other Revenue $751,236

TOTAL REVENUE $766,630

Expense Breakdown

Grants Paid $0

Salaries & Benefits $159,492

Fundraising Expenses $0

Program Expenses $732,187

Other Expenses $722,827

TOTAL EXPENSES $882,319

Year-over-Year Comparison

	2023	2022	Change
Revenue	$766,630	$1,205,829	-0.4%
Expenses	$882,319	$1,046,134	-0.2%
Net Income	$-115,689	$159,695	-1.7%

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

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

$39,000

Total Directors

$66,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Daryl Debrest	President & CEO/Director of Facilities	40.00	Officer Director	$30,000	$0	$30,000
Lawrence S Spruel Jr	Treasurer	16.00	Officer Director	$9,000	$0	$9,000
Aaron Smith	Bd. Member	2.00	Director	$0	$0	$0
Wendall R Whitlock	Bd Member	5.00	Director	$27,500	$0	$27,500
Shannon Harris-Quick	Bd Member	2.00	Director	$0	$0	$0
Anthony Johnson Sr	Bd Member/Director Operations	40.00	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
2025	No data	No data	No data	No data
2024	$766,630	$882,319	$8,504,906	$-115,689
2023	$1,205,829	$1,046,134	$8,790,247	$159,695
2022	$961,086	$935,912	$9,144,018	$25,174
2021	$948,909	$1,023,066	$9,386,361	$-74,157
2020	$948,379	$741,485	$9,631,781	$206,894
2019	$991,122	$1,034,073	$9,814,603	$-42,951
2018	$435,107	$624,562	$9,965,972	$-189,455

Progress Trust Inc