Salt Ministries (EIN 382276772) - 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

1979

Legal Domicile

Principal Officer

Kevin Rigg

Tax Period

2023-01-01 to 2023-12-31

Salt Ministries, founded in 1979, is a small nonprofit that reported $355K in total revenue in fiscal year 2023. Revenue fell 33% from the prior year — a significant decline worth monitoring. Expenses of $334K left a modest 6% surplus.

Mission

A ministry without walls, based in West Michigan, Salt Ministries offers friendship, pastoral care and counseling, preaching, teaching and music for people with special needs or problems. Salt also has relationships with persons or agencies qualified to help.

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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 (2023)

Revenue Breakdown

Contributions & Grants $336,662

Program Service Revenue $0

Investment Income $14,120

Other Revenue $4,208

TOTAL REVENUE $354,990

Expense Breakdown

Grants Paid $0

Salaries & Benefits $99,823

Fundraising Expenses $11,031

Program Expenses $245,922

Other Expenses $234,467

TOTAL EXPENSES $334,290

Year-over-Year Comparison

	2023	2022	Change
Revenue	$354,990	$527,197	-0.3%
Expenses	$334,290	$333,323	+0.0%
Net Income	$20,700	$193,874	-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

Volunteers

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

$63,465

Total Directors

$97,174

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kevin Rigg	President	40.00	Officer Director	$40,833	$22,632	$63,465
Bill Rigg	Director	30.00	Director	$24,409	$0	$24,409
Abigail Alvesteffer	Director	40.00	Director	$9,300	$0	$9,300
Dale Day	Director	1.00	Director	$0	$0	$0
Jim Carter	Director	1.00	Director	$0	$0	$0
Deb Churchill	Director	1.00	Director	$0	$0	$0
Phil VerLee	Director	2.00	Officer Director	$0	$0	$0
John McDonald	Secretary	2.00	Officer Director	$0	$0	$0
Jim Molenkamp	Treasurer	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	No data	No data	No data	No data
2023	$354,990	$334,290	$241,342	$20,700
2022	$527,197	$333,323	$224,762	$193,874
2021	$296,964	$344,929	$33,897	$-47,965
2020	$575,553	$344,671	$1,199,952	$230,882

Salt Ministries