2ND CHANCE SOLUTIONS INC (EIN 263981934) - 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

2009

Legal Domicile

Principal Officer

ATHANACIOS KARATHANASIS

Tax Period

2020-01-01 to 2020-12-31

2ND CHANCE SOLUTIONS INC, founded in 2009, is a micro nonprofit that reported $37K in total revenue in fiscal year 2020. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $43K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO PROVIDE A SOLUTION TO THE HOMELESS IN THE NYC AREA AND TO OFFER THESE RESOURCES IN A SAFE ENVIRONMENT SO THAT THE RESIDENTS CAN SUCCESSFULLY TRANSITION INTO THE COMMUNITY.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $37,475

Investment Income $0

Other Revenue $0

TOTAL REVENUE $37,475

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $42,021

Other Expenses $43,121

TOTAL EXPENSES $43,121

Year-over-Year Comparison

	2020	2019	Change
Revenue	$37,475	$49,600	-0.2%
Expenses	$43,121	$56,589	-0.2%
Net Income	$-5,646	$-6,989	-0.2%

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
PAUL E QUINIONES	SECRETARY	3.00	Officer Director	$0	$0	$0
ATHANACIOS KARATHANASIS	TREASURER	40.00	Officer Director	$0	$0	$0
GARY E BURTON	PRESIDENT	3.00	Officer	$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
2020	$37,475	$43,121	No data	$-5,646
2019	$49,600	$56,589	$5,646	$-6,989
2018	$74,029	$70,581	$12,635	$3,448

2ND CHANCE SOLUTIONS INC