Starfish Project Incorporated

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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

2010

Legal Domicile

Principal Officer

Jenny McGee

Phone

5745844685

Tax Period

2024-01-01 to 2024-12-31

Starfish Project Incorporated, founded in 2010, is a community nonprofit in the Human Services sector that reported $3.3M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $3.0M left a modest 9% surplus.

Mission

Restoring hope to exploited women through socially responsible business. Starfish Project, Inc. provides women alternative employment making jewelry and home goods that is sold to help provide counseling, education, health care, as well as food and shelter.

Program Service Accomplishments

Program 1

Expenses: $2,715,429 Revenue: $1,841,363

Sale of jewelry and home decor in a socially responsible manner for the aid of women in Asia who would otherwise be trapped in human trafficking. These women make the jewelry which is then sold to...

Sale of jewelry and home decor in a socially responsible manner for the aid of women in Asia who would otherwise be trapped in human trafficking. These women make the jewelry which is then sold to the public mainly via an online store and wholesale retailers. The net proceeds are then used to continue providing employment, counseling, education, vocational training, health care, and housing in the women's shelter. In many cases, these women also need assistance in providing for their immediate family.

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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 $1,434,925

Program Service Revenue $0

Investment Income $29

Other Revenue $1,846,252

TOTAL REVENUE $3,281,206

Expense Breakdown

Grants Paid $0

Salaries & Benefits $456,097

Fundraising Expenses $0

Program Expenses $2,715,429

Other Expenses $2,534,072

TOTAL EXPENSES $2,990,169

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,281,206	$2,681,000	+0.2%
Expenses	$2,990,169	$2,690,917	+0.1%
Net Income	$291,037	$-9,917	-30.3%

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

300

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

$113,375

Total Directors

$61,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jenny McGee	President/Executive Director	50.00	Officer Director	$61,500	$0	$61,500
Marcia Morris	Board Chair	0.50	Officer Director	$0	$0	$0
Elmer Doty	Treasurer	0.25	Officer Director	$0	$0	$0
Esther Woo	Secretary	0.25	Officer Director	$0	$0	$0
Kate Padgitt Bowman	Board Member	0.25	Director	$0	$0	$0
Keith Spurgin	Board Member	0.25	Director	$0	$0	$0
Cheryl Tan	Board Member	0.25	Director	$0	$0	$0
Michelle Connor	Bookkeeper	40.00	Officer	$51,875	$0	$51,875

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	$3,281,206	$2,990,169	$1,160,896	$291,037
2023	$2,681,000	$2,690,917	$860,933	$-9,917
2022	$2,809,608	$3,042,260	$895,277	$-232,652
2021	$2,678,756	$2,614,731	$1,125,026	$64,025
2020	$2,271,106	$1,773,045	$1,132,472	$498,061
2019	$1,020,210	$1,170,735	$598,752	$-150,525
2018	$1,082,547	$1,052,726	$690,177	$29,821