Vessel of Honour Ministries Inc (EIN 461795059) - 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

Stephen R McKay

Phone

4233029332

Tax Period

2024-01-01 to 2024-12-31

Vessel of Honour Ministries Inc, founded in 2013, is a small nonprofit in the Diseases & Disorders sector that reported $323K in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $279K left a modest 14% surplus.

Mission

Reaching the Unreached, Loving the Abandoned

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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 $323,003

Program Service Revenue $0

Investment Income $112

Other Revenue $0

TOTAL REVENUE $323,115

Expense Breakdown

Grants Paid $0

Salaries & Benefits $90,121

Fundraising Expenses $16,771

Program Expenses $196,578

Other Expenses $189,105

TOTAL EXPENSES $279,226

Year-over-Year Comparison

	2024	2023	Change
Revenue	$323,115	$241,608	+0.3%
Expenses	$279,226	$237,798	+0.2%
Net Income	$43,889	$3,810	+10.5%

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

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

$50,802

Total Directors

$65,927

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rev Stephen McKay	Executive Director	40.00	Officer Director	$26,802	$24,000	$50,802
Rev Marty Harden	Treasurer	1.00	Officer Director	$0	$0	$0
Rev Daren Downs	Secretary	1.00	Officer Director	$0	$0	$0
Brad Angeron	Director	40.00	Director	$15,125	$0	$15,125
Rick Keller	Director	1.00	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
2024	$323,115	$279,226	$110,071	$43,889
2023	$241,608	$237,798	$65,443	$3,810
2022	$283,885	$314,906	$62,413	$-31,021
2021	$280,904	$265,646	$92,734	$15,258
2020	$252,451	$231,638	$76,873	$20,813

Vessel of Honour Ministries Inc