BACKPACKS OF LOVE INC (EIN 274449054) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2012

Legal Domicile

Principal Officer

EVAN DAVIS

Phone

8045982723

Tax Period

2024-01-01 to 2024-12-31

BACKPACKS OF LOVE INC, founded in 2011, is a small nonprofit in the Human Services sector that reported $197K in total revenue in fiscal year 2023. Revenue surged 41% from the prior year, signaling strong growth momentum.

Mission

ELIMINATE HUNGER IN SCHOOL-AGE CHILDREN IN CENTRAL VIRGINA BY PROVIDING FOOD FOR THEIR WEEKENDS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $191,437

Program Service Revenue $0

Investment Income $886

Other Revenue $32,137

TOTAL REVENUE $224,460

Expense Breakdown

Grants Paid $0

Salaries & Benefits $74,225

Fundraising Expenses $35,667

Program Expenses $163,800

Other Expenses $143,158

TOTAL EXPENSES $222,304

Year-over-Year Comparison

	2024	2023	Change
Revenue	$224,460	$188,472	+0.2%
Expenses	$222,304	$182,041	+0.2%
Net Income	$2,156	$6,431	-0.7%

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

100

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
Juliette Oliva	Director	4.00	Director	$0	$0	$0
Noah Maphis	Director	4.00	Director	$0	$0	$0
Evan Davis	Director	3.00	Director	$0	$0	$0
Michael Rota	Director	3.00	Director	$0	$0	$0
Bobby Fulcher	Director & Founder	3.00	Director	$0	$0	$0
Brenda Fulcher	Director	2.00	Director	$0	$0	$0
Dr Beth Teigen	Director	2.00	Director	$0	$0	$0
Jo Lewis	Director	2.00	Director	$0	$0	$0
Ruby Chang	Director	2.00	Director	$0	$0	$0
Sue Wilhelm	Director	2.00	Director	$0	$0	$0
Tony Leal	Director	2.00	Director	$0	$0	$0
Christy Polster	Director	2.00	Director	$0	$0	$0
Tom Sulzer	Director	1.00	Director	$0	$0	$0
Madison Ellis	Director	0.25	Director	$0	$0	$0
Micah White	President	2.00	Officer Director	$0	$0	$0
Lummie Jones	Treasurer	4.00	Officer Director	$0	$0	$0
Lisa Turner	Secretary	2.00	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
2024	$224,460	$222,304	$104,184	$2,156
2023	$197,342	$193,103	$100,481	$4,239

BACKPACKS OF LOVE INC