MIKE SPECK MINISTRIES (EIN 431388019) - 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

1991

Legal Domicile

Principal Officer

Michael SPECK

Tax Period

2024-01-01 to 2024-12-31

MIKE SPECK MINISTRIES, founded in 1991, is a micro nonprofit in the Religion sector that reported $86K in total revenue in fiscal year 2024. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $109K exceeded revenue, resulting in a 27% operating deficit.

Mission

MUSIC MINISTRY TO CHURCHES

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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 $73,209

Program Service Revenue $0

Investment Income $3,745

Other Revenue $9,133

TOTAL REVENUE $86,087

Expense Breakdown

Grants Paid $0

Salaries & Benefits $59,525

Fundraising Expenses $0

Program Expenses $109,467

Other Expenses $49,942

TOTAL EXPENSES $109,467

Year-over-Year Comparison

	2024	2023	Change
Revenue	$86,087	$123,896	-0.3%
Expenses	$109,467	$124,045	-0.1%
Net Income	$-23,380	$-149	+155.9%

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

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
B J FERGUSON	DIRECTOR	0.00	Director	$0	$0	$0
MARSHA F SPECK	DIRECTOR	0.00	Director	$0	$0	$0
Michael SPECK	PRESIDENT	40.00	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
2024	$86,087	$109,467	$1,081,122	$-23,380
2023	$123,896	$124,045	$1,125,934	$-149
2022	$91,116	$100,441	$1,098,843	$-9,325
2021	$96,268	$72,474	$1,133,864	$23,794
2020	$104,804	$97,699	$588,768	$7,105
2019	$101,502	$85,089	$757,856	$16,413
2018	$54,905	$76,719	$694,732	$-21,814

MIKE SPECK MINISTRIES