WORKFORCE INSTITUTE OF LORAIN CTY

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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

1999

Legal Domicile

Principal Officer

MARY MURPHY

Phone

4403246457

Tax Period

2020-07-01 to 2021-06-30

WORKFORCE INSTITUTE OF LORAIN CTY, founded in 1999, is a micro nonprofit in the Employment sector that reported $3K in total revenue in fiscal year 2020. Revenue decreased 5% compared to the prior year. Expenses of $7K exceeded revenue, resulting in a 129% operating deficit.

Mission

TO SERVE AS A COUNTY-WIDE RESOURCE DEDICATED TO ADDRESSING CURRENT AND FUTURE WORKFORCE NEEDS THROUGH DATA COLLECTIONS, INFORMATION ANALYSIS, COLLECTIVE ACTION AND EVALUATION.

Program Service Accomplishments

Program 1

Expenses: $2,706 Revenue: $3,028

FACILITATE THE ONGOING GROWTH AND IMPLEMENTATION OF WORKFORCE AND ECONOMIC DEVELOPMENT INITIATIVES IN LORAIN COUNTY.

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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 $3,028

Investment Income $43

Other Revenue $0

TOTAL REVENUE $3,071

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $7,019

Other Expenses $7,019

TOTAL EXPENSES $7,019

Year-over-Year Comparison

	2020	2019	Change
Revenue	$3,071	$3,245	-0.1%
Expenses	$7,019	$5,338	+0.3%
Net Income	$-3,948	$-2,093	+0.9%

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
MARCIA BALLINGER	DIRECTOR	N/A	Director	$0	$0	$0
ROY CHURCH	CHAIRMAN OF	N/A	Officer Director	$0	$0	$0
GLENN FAIRCLOTH	DIRECTOR	N/A	Director	$0	$0	$0
MARY MURPHY	EXECUTIVE DI	N/A	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
2021	$3,071	$7,019	$53,404	$-3,948
2020	$3,245	$5,338	$58,081	$-2,093
2019	$359	$12,207	$62,617	$-11,848