SECOND CHANCE FOR LIFE FOUNDATION (EIN 411657091) - 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

1989

Legal Domicile

Principal Officer

FRANK HALLOWELL

Phone

9529138323

Tax Period

2024-05-01 to 2025-04-30

SECOND CHANCE FOR LIFE FOUNDATION, founded in 1989, is a micro nonprofit in the Diseases & Disorders sector that reported $46K in total revenue in fiscal year 2024. Expenses of $55K exceeded revenue, resulting in a 19% operating deficit.

Mission

TO SUPPORT THE COMPREHENSIVE WELL-BEING OF HEART TRANSPLANT AND LVAD RECIPIENTS BY ADDRESSING THEIR PHYSICAL, MENTAL, AND MONETARY NEEDS, AND TO PROVIDE HOUSING FOR PRE- AND POST-OPERATIVE REHABILITATION. THE ORGANIZATION WILL ALSO ACTIVELY PROMOTE ORGAN DONOR AWARENESS, FACILITATE DONOR MEMBERSHIP DRIVES, AND ENCOURAGE CONTRIBUTIONS AND MEMORIALS TO FURTHER THIS MISSION.

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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 $23,239

Program Service Revenue $0

Investment Income $17,352

Other Revenue $5,855

TOTAL REVENUE $46,446

Expense Breakdown

Grants Paid $41,464

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $41,464

Other Expenses $13,610

TOTAL EXPENSES $55,074

Year-over-Year Comparison

	2024	2023	Change
Revenue	$46,446	$46,283	+0.0%
Expenses	$55,074	$35,179	+0.6%
Net Income	$-8,628	$11,104	-1.8%

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

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
JAMES BERG	PRESIDENT	20.00	Officer Director	$0	$0	$0
CHERYL LACHELT	SECRETARY	10.00	Officer Director	$0	$0	$0
FRANK HALLOWELL	TREASURER	20.00	Officer Director	$0	$0	$0
MARK CORLESS	DIRECTOR	3.00	Director	$0	$0	$0
MEGAN FRASER	DIRECTOR	3.00	Director	$0	$0	$0
ARLENE FORREST	DIRECTOR	3.00	Director	$0	$0	$0
DEB HOPPE	DIRECTOR	3.00	Director	$0	$0	$0
JANE JOHNSON	DIRECTOR	3.00	Director	$0	$0	$0
JASON VANDER EYK	DIRECTOR	3.00	Director	$0	$0	$0
KENNETH ZAFFRAN	DIRECTOR	3.00	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
2025	$46,446	$55,074	$343,770	$-8,628
2024	$46,283	$35,179	$361,675	$11,104
2023	$77,343	$43,634	$354,908	$33,709
2022	$64,965	$36,209	$328,070	$28,756
2021	$38,020	$24,781	$325,537	$13,239
2020	$70,339	$75,353	$293,001	$-5,014

SECOND CHANCE FOR LIFE FOUNDATION