LIFE PLAN OF KENTUCKY INC

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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

2011

Legal Domicile

Principal Officer

JOSH FAIN

Phone

8595232323

Tax Period

2023-01-01 to 2023-12-31

LIFE PLAN OF KENTUCKY INC, founded in 2011, is a small nonprofit in the Human Services sector that reported $621K in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. The organization ran a surplus of $97K, a strong 16% operating margin.

Mission

PROVIDE POOLED TRUST SERVICES TO DISABLED INDIVIDUALS WHO RECEIVE MEANS TESTED BENEFITS. ADDITIONALLY, THE ORGANIZATION PROVIDES, AT NO CHARGE TO ATTENDEES, EDUCATIONAL PROGRAMS AND OPPORTUNITIES FOR FAMILY MEMBERS OF PERSONS WITH DISABILITIES, CONSULTATION ABOUT SERVICES AVAILABLE IN KENTUCKY, AND RECREATIONAL OPPORTUNITIES FOR PERSONS WITH DISABILITIES. THE ORGANIZATION ALSO CONDUCTS INFORMATIONAL PROGRAMS ABOUT KENTUCKY MEDICAID WAIVERS AND OTHER SERVICES AT NO CHARGE FOR INDIVIDUALS WITH DISABILITIES AND THEIR FAMILIES, CASE MANAGERS, AND OTHER PROFESSIONALS. THE ORGANZIATION ALSO ASSISTS ELIGIBLE INDIVIDUALS, AT NO CHARGE, TO ESTABLISH ABLE ACCOUNTS TO PROTECT ELIGIBILITY FOR DISABILITY-RELATED SERVICES AND BENEFITS. THE ORGANIZATION ALSO PROVIDES GRANTS TO DISABLED INDIVIDUALS WHO CAN DEMONSTRATE A FINANCIAL NEED FOR PURCHASES OF ITEMS SUCH AS ADAPTIVE EQUIPMENT, ADAPTIVE TECHNOLOGY, COMMUNICATION DEVICES AND OTHER DISABILITY-RELATED ITEMS. GRANTS ARE ALSO AVAILABLE FOR SERVICES

Program Service Accomplishments

Program 1

Expenses: $493,947 Revenue: $605,845

ADMINISTER POOLED SPECIAL NEEDS TRUSTS FOR INDIVIDUALS WITH DISABILITIES WHO RECEIVE MEANS TESTED BENEFITS. THE ORGANIZATION ALSO PROVIDED EDUCATIONAL PROGRAMS FOR FAMILY MEMBERS OF PERSONS WITH...

ADMINISTER POOLED SPECIAL NEEDS TRUSTS FOR INDIVIDUALS WITH DISABILITIES WHO RECEIVE MEANS TESTED BENEFITS. THE ORGANIZATION ALSO PROVIDED EDUCATIONAL PROGRAMS FOR FAMILY MEMBERS OF PERSONS WITH DISABILITIES, CONSULTATION ABOUT SERVICES AVAILABLE IN KENTUCKY, AND RECREATIONAL OPPORTUNITIES FOR PERSONS WITH DISABILITIES. THE ORGANIZATION CONDUCTS INFORMATIONAL PROGRAMS ABOUT KENTUCKY MEDICAID WAIVERS AND OTHER SERVICES AT NO CHARGE FOR INDIVIDUALS WITH DISABILITIES AND THEIR FAMILIES, CASE MANAGERS, AND OTHER PROFESSIONALS. THE ORGANIZATION ALSO ASSISTS ELIGIBLE INDIVIDUALS, AT NO CHARGE, TO ESTABLISH ABLE ACCOUNTS TO PROTECT ELIGIBILITY FOR DISABILITY-RELATED SERVICES AND BENEFITS. THE ORGANIZATION ALSO PROVIDED GRANTS TO DISABLED INDIVIDUALS FOR PURCHASES OF ITEMS SUCH AS ADAPTIVE EQUIPMENT, ADAPTIVE TECHNOLOGY, COMMUNICATION DEVICES AND OTHER DISABILITY-RELATED ITEMS AND SERVICES.

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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 $13,885

Program Service Revenue $605,845

Investment Income $1,393

Other Revenue $0

TOTAL REVENUE $621,123

Expense Breakdown

Grants Paid $13,206

Salaries & Benefits $356,679

Fundraising Expenses $0

Program Expenses $493,947

Other Expenses $154,577

TOTAL EXPENSES $524,462

Year-over-Year Comparison

	2023	2022	Change
Revenue	$621,123	$680,983	-0.1%
Expenses	$524,462	$355,933	+0.5%
Net Income	$96,661	$325,050	-0.7%

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

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

$190,319

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN PERCH	EXECUTIVE DI	40.00	Officer	$132,050	$0	$132,050
TINA SCOTT	PRESIDENT	2.00	Officer	$0	$0	$0
JENNIFER GARLAND	SECRETARY	1.00	Officer	$0	$0	$0
KEVIN JOHNS	VICE PRESIDE	1.00	Officer	$0	$0	$0
STEFAN HENDRICKSON	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER GILMORE	DIRECTOR	1.00	Director	$0	$0	$0
TRACI BREWER	DIRECTOR	1.00	Director	$0	$0	$0
CAMERON HAMILTON	TREASURER	1.00	Officer	$0	$0	$0
RACHEL JONES	DIRECTOR	1.00	Director	$0	$0	$0
ELISE KALIKA	DIRECTOR	N/A	Director	$0	$0	$0
KATIE FINNELL	DIRECTOR	N/A	Director	$0	$0	$0
JASON LEE	DIRECTOR	N/A	Director	$0	$0	$0
JOSH FAIN	EXECUTIVE DI	40.00	Officer	$58,269	$0	$58,269

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	$621,123	$524,462	$893,816	$96,661
2022	$680,983	$355,933	$794,394	$325,050
2021	$526,567	$331,430	$474,691	$195,137
2020	$373,982	$291,893	$275,346	$82,089
2019	$422,134	$271,354	$191,325	$150,780
2018	$225,168	$195,258	$50,545	$29,910