2XSalt Inc (EIN 432023021) - 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

2003

Legal Domicile

Principal Officer

Bart Kofoed

Phone

7043933939

Tax Period

2023-01-01 to 2023-12-31

2XSalt Inc, founded in 2003, is a small nonprofit in the Recreation & Sports sector that reported $685K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $935K exceeded revenue, resulting in a 37% operating deficit.

Mission

2xSalt, Inc is a non profit that mentors and facilitates job skill training through the culinary arts, beverage service, hospitality service, catering and community outreach. We strive to create employment opportunity and volunteer opportunity for the unemployed and under-employed.

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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 $0

Program Service Revenue $664,435

Investment Income $0

Other Revenue $20,201

TOTAL REVENUE $684,636

Expense Breakdown

Grants Paid $0

Salaries & Benefits $101,255

Fundraising Expenses $5,621

Program Expenses $766,415

Other Expenses $833,401

TOTAL EXPENSES $934,656

Year-over-Year Comparison

	2023	2022	Change
Revenue	$684,636	$790,585	-0.1%
Expenses	$934,656	$769,299	+0.2%
Net Income	$-250,020	$21,286	-12.7%

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

N/A

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

$72,143

Total Directors

$72,143

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bart Kofoed	President	55.00	Officer Director	$72,000	$143	$72,143

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	$684,636	$934,656	$2,320,925	$-250,020
2022	$790,585	$769,299	$2,517,232	$21,286
2021	$631,783	$710,254	$2,267,833	$-78,471
2020	$367,567	$465,377	$2,348,543	$-97,810
2019	$13,331	$262,916	$2,438,280	$-249,585
2018	$7,985	$276,456	$2,845,970	$-268,471

2XSalt Inc