PRASSION 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

DANIEL SHINJONG BAEQ

Phone

7035051775

Tax Period

2023-01-01 to 2023-12-31

PRASSION INC, founded in 2013, is a micro nonprofit in the Unknown sector that reported $78K in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $349K exceeded revenue, resulting in a 349% operating deficit.

Mission

TO SPREAD THE GOSPEL TO THE WORLD BY PLANTING AND SERVING CHURCHES TO SAVE LIVES AND TO RESTORE FAMILIES BY PROVIDING MEDICAL ASSITANCE TO TRAIN FUTURE LEADERS OF COMMUNITIES BY ESTABLISHING EDUCATION PROGRAMS

Program Service Accomplishments

Program 1

Expenses: $2,874

MISSIONARY SUPPORT AND INAUGURAL WORSHIP SERVICE

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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 $70,004

Program Service Revenue $0

Investment Income $7,630

Other Revenue $0

TOTAL REVENUE $77,634

Expense Breakdown

Grants Paid $293,500

Salaries & Benefits $8,500

Fundraising Expenses $0

Program Expenses $338,642

Other Expenses $46,711

TOTAL EXPENSES $348,711

Year-over-Year Comparison

	2023	2022	Change
Revenue	$77,634	$59,701	+0.3%
Expenses	$348,711	$51,520	+5.8%
Net Income	$-271,077	$8,181	-34.1%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL SHINJONG BAEQ	PRESIDENT	1.00	Director	$0	$0	$0
STANFORD H CHOI	DIRECTOR	1.00	Director	$0	$0	$0
TAE JEONG	SECRETARY	1.00	Director	$0	$0	$0
HO CHIN LEE	VICE PRESIDE	1.00	Director	$0	$0	$0
SANG K PARK	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
2023	$77,634	$348,711	$368,425	$-271,077
2022	$59,701	$51,520	$641,024	$8,181
2021	$91,699	$54,009	$642,376	$37,690
2020	$84,483	$156,786	$604,686	$-72,303
2019	$380,003	$81,422	$676,989	$298,581
2018	$81,294	$53,896	$378,689	$27,398