NEW LIFE FURNITURE BANK (EIN 262703774) - 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

2008

Legal Domicile

Principal Officer

DANA SAXTON

Phone

5133130530

Tax Period

2024-01-01 to 2024-12-31

NEW LIFE FURNITURE BANK, founded in 2008, is a community nonprofit in the Human Services sector that reported $3.3M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE GENTLY USED 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 (2024)

Revenue Breakdown

Contributions & Grants $1,052,957

Program Service Revenue $2,150,235

Investment Income $644

Other Revenue $125,123

TOTAL REVENUE $3,328,959

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,692,912

Fundraising Expenses $109,272

Program Expenses $3,070,282

Other Expenses $1,668,431

TOTAL EXPENSES $3,361,343

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,328,959	$2,852,594	+0.2%
Expenses	$3,361,343	$2,988,927	+0.1%
Net Income	$-32,384	$-136,333	-0.8%

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

2733

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

$149,726

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JESSICA MAYS	TREASURER	2.00	Officer Director	$0	$0	$0
KELLY BAKER	VICE-PRESIDENT	2.00	Officer Director	$0	$0	$0
MICHAEL MENICHETTI	PRESIDENT	2.00	Officer Director	$0	$0	$0
AMY STEWART	SECRETARY	2.00	Officer Director	$0	$0	$0
ELIZABETH PREBLES	BOARD MEMBER	2.00	Director	$0	$0	$0
JUWANA GLOVER	BOARD MEMBER	2.00	Director	$0	$0	$0
ANN LAFFERTY	BOARD MEMBER	2.00	Director	$0	$0	$0
STEVE ELLIOTT	BOARD MEMBER	2.00	Director	$0	$0	$0
MICHAEL KROEGER	BOARD MEMBER	2.00	Director	$0	$0	$0
BONITA CAMPBELL	BOARD MEMBER	2.00	Director	$0	$0	$0
KATRINA HARTSEL	BOARD MEMBER	2.00	Director	$0	$0	$0
APRIL AUSTIN	BOARD MEMBER	2.00	Director	$0	$0	$0
JACQUIE DENNY	BOARD MEMBER	2.00	Director	$0	$0	$0
VALERIE KALISTA	BOARD MEMBER	2.00	Director	$0	$0	$0
CHRIS LONGWELL	BOARD MEMBER	2.00	Director	$0	$0	$0
GREG NEAL	BOARD MEMBER	2.00	Director	$0	$0	$0
DANA SAXTON	PRESIDENT AND CEO	40.00	Officer	$142,911	$6,815	$149,726

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	$3,328,959	$3,361,343	$3,270,139	$-32,384
2023	$2,852,594	$2,988,927	$3,525,117	$-136,333
2022	$2,092,535	$2,047,703	$3,257,278	$44,832
2021	$1,355,616	$982,027	$944,819	$373,589
2020	$882,793	$708,717	$627,248	$174,076
2020	$882,793	$708,717	$627,248	$174,076
2019	$757,163	$726,321	$214,421	$30,842
2018	$672,133	$602,744	$182,252	$69,389

NEW LIFE FURNITURE BANK