MUSTARD SEED FURNITURE BANK OF FORT WAYNE INC

EIN: 352149283 501(c)(3) Human Services

FORT WAYNE, IN

Total Revenue
$496,220
Total Expenses
$668,380
Total Assets
$653,188
Net Assets
$647,864
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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
2002
Legal Domicile
IN
Principal Officer
SARAH LANCE
Phone
2604715802
Tax Period
2024-01-01 to 2024-12-31

MUSTARD SEED FURNITURE BANK OF FORT WAYNE INC, founded in 2002, is a small nonprofit in the Human Services sector that reported $496K in total revenue in fiscal year 2024. Expenses of $668K exceeded revenue, resulting in a 35% operating deficit.

Mission

TO PROVIDE HOUSEHOLD FURNISHINGS TO FAMILIES AND INDIVIDUALS AS THEY REBUILD THEIR LIVES AFTER SUFFERING DISASTER, PERSONAL TRAGEDY OR OTHER MISFORTUNES.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $510,787
Program Service Revenue $12,263
Investment Income $2,582
Other Revenue $-29,412
TOTAL REVENUE $496,220

Expense Breakdown

Grants Paid $243,862
Salaries & Benefits $296,076
Fundraising Expenses $7,141
Program Expenses $636,422
Other Expenses $128,442
TOTAL EXPENSES $668,380

Year-over-Year Comparison

2024 2023 Change
Revenue $496,220 $483,673 +0.0%
Expenses $668,380 $504,943 +0.3%
Net Income $-172,160 $-21,270 +7.1%
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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Governance

Voting Members
15
Independent Members
15
Employees
20
Volunteers
53

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
3
$81,131
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SARAH LANCE EXECUTIVE DI 40.00
Officer
$81,131 $0 $81,131
DAVID BARKSDALE SECRETARY 1.00
Director
$0 $0 $0
BROOKS DILLER TREASURER 1.00
Officer Director
$0 $0 $0
JENNA FOREMAN DIRECTOR 0.50
Director
$0 $0 $0
FRANK GOMEZ DIRECTOR 0.50
Officer Director
$0 $0 $0
SCOT GOSKOWICZ DIRECTOR 0.50
Director
$0 $0 $0
JORDAN HUTTENLOCKER VICE CHAIR 1.00
Director
$0 $0 $0
BILL NAGY DIRECTOR 0.50
Director
$0 $0 $0
TYLER PLATT DIRECTOR 0.50
Director
$0 $0 $0
PARKER SCHEARER BOARD CHAIR 1.00
Director
$0 $0 $0
JAMI THOMAS DIRECTOR 1.00
Director
$0 $0 $0
DAVID WINGATE BOARD GOVERN 1.00
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 $496,220 $668,380 $653,188 $-172,160
2023 $483,673 $504,943 $811,979 $-21,270
2022 $555,078 $500,715 $822,835 $54,363
2022 $555,078 $500,715 $822,835 $54,363
2021 $575,156 $501,742 $776,927 $73,414
2020 $525,558 $539,289 $695,605 $-13,731
2019 $695,854 $635,780 $703,220 $60,074
2018 $604,100 $561,964 $636,906 $42,136
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