INDEPENDENCE FOUNDATION INC (EIN 461746787) - 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

2013

Legal Domicile

Principal Officer

LAVON MAGRUDER

Phone

4432041134

Tax Period

2023-01-01 to 2023-12-31

INDEPENDENCE FOUNDATION INC, founded in 2013, is a small nonprofit in the Human Services sector that reported $162K in total revenue in fiscal year 2023.

Mission

WE ENHANCE STABILITY AND FINANCIAL FREEDOM THROUGH SKILL ACQUISITION FOR CHILDREN AND ADULTS IN UNDERSERVED COMMUNITIES TO PROMOTE SELF- DETERMINATION AND INDEPENDENCE.

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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 $162,171

Investment Income $0

Other Revenue $0

TOTAL REVENUE $162,171

Expense Breakdown

Grants Paid $0

Salaries & Benefits $71,248

Fundraising Expenses $0

Program Expenses $71,248

Other Expenses $100,345

TOTAL EXPENSES $171,593

Year-over-Year Comparison

	2023	2022	Change
Revenue	$162,171	$153,127	+0.1%
Expenses	$171,593	$154,599	+0.1%
Net Income	$-9,422	$-1,472	+5.4%

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
HAKIM ALI	DIRECTOR	20.00	Officer Director	$0	$0	$0
TASHAWNA FENNELL	SECRETARY	N/A	Director	$0	$0	$0
LAVON MAGRUDER	DIRECTOR	40.00	Officer Director	$0	$0	$0
VINCENT MARTIN	CHAIRMAN	N/A	Director	$0	$0	$0
MICHEAL POPE	VICE-CHAIRMA	N/A	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
2024	No data	No data	No data	No data
2023	$162,171	$171,593	$257,807	$-9,422
2022	$153,127	$154,599	$269,063	$-1,472
2021	$182,817	$205,512	$271,896	$-22,695
2020	$288,877	$284,494	$298,424	$4,383
2019	$283,659	$267,419	$257,771	$16,240
2018	$341,180	$335,617	$260,807	$5,563

INDEPENDENCE FOUNDATION INC