FOUNDATION OF PRAISE (EIN 237448019) - 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

1974

Legal Domicile

Principal Officer

JOANN THOMAS

Phone

7607412755

Tax Period

2024-01-01 to 2024-12-31

FOUNDATION OF PRAISE, founded in 1974, is a small nonprofit that reported $983K in total revenue in fiscal year 2024. Revenue surged 90% from the prior year, signaling strong growth momentum. The organization ran a surplus of $335K, a strong 34% operating margin.

Mission

PROVIDES INSPIRATIONAL MATERIALS TO MINISTRIES,PRISONS,HOSPITALS,PREGNANCY CENTERS,& THE MILITARY.

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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 $637,233

Program Service Revenue $89,177

Investment Income $252,286

Other Revenue $4,293

TOTAL REVENUE $982,989

Expense Breakdown

Grants Paid $0

Salaries & Benefits $311,867

Fundraising Expenses $56,624

Program Expenses $445,915

Other Expenses $335,932

TOTAL EXPENSES $647,799

Year-over-Year Comparison

	2024	2023	Change
Revenue	$982,989	$516,558	+0.9%
Expenses	$647,799	$639,456	+0.0%
Net Income	$335,190	$-122,898	-3.7%

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

N/A

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

$176,956

Total Directors

$176,956

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOANN THOMAS	TREASURER/GM	40.00	Officer Director	$117,580	$9,100	$126,680
BRUCE CAROTHERS	SECRETARY	10.00	Officer Director	$13,000	$37,000	$50,000
MARY CAROTHERS	PRESIDENT	2.00	Officer Director	$276	$0	$276

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	$982,989	$647,799	$6,247,544	$335,190
2023	$516,558	$639,456	$5,831,386	$-122,898
2022	$620,567	$544,387	$5,953,519	$76,180
2021	$739,185	$642,877	$6,352,418	$96,308
2020	$523,377	$450,063	$6,148,101	$73,314
2019	$654,336	$524,130	$6,054,579	$130,206
2018	$654,398	$503,550	$5,452,609	$150,848

FOUNDATION OF PRAISE