SECOND CHANCE FOR LIFE FOUNDATION

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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

2025-05-01 to 2026-04-30

SECOND CHANCE FOR LIFE FOUNDATION, founded in 1989, is a micro nonprofit in the Diseases & Disorders sector that reported $42K in total revenue in fiscal year 2025. Revenue decreased 9% compared to the prior year. Expenses of $78K exceeded revenue, resulting in a 85% operating deficit.

Mission

TO SUPPORT THE PHYSICAL, MENTAL, AND FINANCIAL WELL-BEING OF HEART TRANSPLANT AND LVAD RECIPIENTS, PROVIDE PATIENT HOUSING, AND PROMOTE ORGAN DONOR AWARENESS AND MEMBERSHIP.

Program Service Accomplishments

Program 1

Expenses: $65,363 Revenue: $42,196

TO SUPPORT THE PHYSICAL, MENTAL, AND FINANCIAL WELL-BEING OF HEART TRANSPLANT AND LVAD RECIPIENTS, PROVIDE PATIENT HOUSING, AND PROMOTE ORGAN DONOR AWARENESS AND MEMBERSHIP.

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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 (2025)

Revenue Breakdown

Contributions & Grants $13,559

Program Service Revenue $0

Investment Income $15,146

Other Revenue $13,491

TOTAL REVENUE $42,196

Expense Breakdown

Grants Paid $46,368

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $65,363

Other Expenses $31,546

TOTAL EXPENSES $77,914

Year-over-Year Comparison

	2025	2024	Change
Revenue	$42,196	$46,446	-0.1%
Expenses	$77,914	$55,074	+0.4%
Net Income	$-35,718	$-8,628	+3.1%

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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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	15.00	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
2026	$42,196	$77,914	$322,793	$-35,718
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