NEW LIFE FURNITURE BANK OF MA INC (EIN 463642814) - 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

KEVIN BROWN

Phone

7743166395

Tax Period

2024-11-01 to 2025-10-31

NEW LIFE FURNITURE BANK OF MA INC, founded in 2013, is a community nonprofit in the Housing & Shelter sector that reported $1.5M in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum.

Mission

NEW LIFE PROVIDES GENTLY USED DONATED HOUSEHOLD FURNISHINGS TO INDIVIDUALS AND FAMILIES TRANSITIONING OUT OF HOMELESSNESS, VICTIMS OF FIRE, THOSE ESCAPING DOMESTIC VIOLENCE, MILITARY VETERANS, AND REFUGEES.

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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 $1,452,479

Program Service Revenue $31,496

Investment Income $3,140

Other Revenue $27,543

TOTAL REVENUE $1,514,658

Expense Breakdown

Grants Paid $822,245

Salaries & Benefits $399,274

Fundraising Expenses $155,679

Program Expenses $1,315,894

Other Expenses $300,849

TOTAL EXPENSES $1,522,368

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,514,658	$1,166,884	+0.3%
Expenses	$1,522,368	$1,182,712	+0.3%
Net Income	$-7,710	$-15,828	-0.5%

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

698

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

$144,997

Total Directors

$144,997

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDY CROSSLEY	EXECUTIVE DIRECTOR	40.00	Officer Director	$144,997	$0	$144,997
DOUGLAS MARSHALL	PRESIDENT	5.00	Officer Director	$0	$0	$0
KEVIN BROWN	TREASURER	2.00	Officer Director	$0	$0	$0
LAURA CROMARTY	DIRECTOR	1.00	Director	$0	$0	$0
RONALD YATES	CHAIRMAN	30.00	Director	$0	$0	$0
LISA DOO	DIRECTOR	1.00	Director	$0	$0	$0
TODD DROMETER	DIRECTOR	1.00	Director	$0	$0	$0
WENDY GREAVES	CLERK	1.00	Director	$0	$0	$0
PAUL SILVA	DIRECTOR	1.00	Director	$0	$0	$0
MARY ELLEN RICHTER	DIRECTOR	1.00	Director	$0	$0	$0
MIKE KAHN	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER WHELAN	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	$1,514,658	$1,522,368	$790,479	$-7,710
2024	$1,166,884	$1,182,712	$344,280	$-15,828
2023	$1,084,503	$1,076,322	$430,174	$8,181
2022	$1,004,997	$1,024,370	$263,766	$-19,373
2021	$873,642	$873,323	$263,590	$319
2020	$650,463	$599,501	$266,938	$50,962
2019	$839,931	$810,191	$214,011	$29,740
2018	$696,089	$639,860	$182,182	$56,229

NEW LIFE FURNITURE BANK OF MA INC