Vessel of Honour Ministries 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

2013

Legal Domicile

Principal Officer

Stephen R McKay

Phone

4233029332

Tax Period

2025-01-01 to 2025-12-31

Vessel of Honour Ministries Inc, founded in 2013, is a small nonprofit in the Diseases & Disorders sector that reported $453K in total revenue in fiscal year 2025. Revenue surged 40% from the prior year, signaling strong growth momentum. Expenses of $415K left a modest 8% surplus.

Mission

Reaching the Unreached, Loving the Abandoned

Program Service Accomplishments

Program 1

Expenses: $301,985 Revenue: $446,791

Conducted spiritual revivals in the U.S. and various countries. Provided training and support for individuals working in ministry and planting 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 (2025)

Revenue Breakdown

Contributions & Grants $446,791

Program Service Revenue $0

Investment Income $218

Other Revenue $5,500

TOTAL REVENUE $452,509

Expense Breakdown

Grants Paid $0

Salaries & Benefits $125,970

Fundraising Expenses $19,431

Program Expenses $301,985

Other Expenses $289,360

TOTAL EXPENSES $415,330

Year-over-Year Comparison

	2025	2024	Change
Revenue	$452,509	$323,115	+0.4%
Expenses	$415,330	$279,226	+0.5%
Net Income	$37,179	$43,889	-0.2%

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

$44,802

Total Directors

$81,802

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rev Stephen McKay	Executive Director	40.00	Officer Director	$20,802	$24,000	$44,802
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	$27,900	$9,100	$37,000
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
2025	$452,509	$415,330	$184,118	$37,179
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