PARSONS AVENUE REDEVELOPMENT CORPORATION (EIN 463644554) - 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

2014

Legal Domicile

Principal Officer

MICHAEL PREMO

Phone

6144457342

Tax Period

2023-01-01 to 2023-12-31

PARSONS AVENUE REDEVELOPMENT CORPORATION, founded in 2014, is a micro nonprofit in the Community Improvement sector that reported $39K in total revenue in fiscal year 2023. Revenue fell 88% from the prior year — a significant decline worth monitoring. Expenses of $98K exceeded revenue, resulting in a 150% operating deficit.

Mission

TO REVITALIZE PARSONS AVENUE IN COLUMBUS IN ORDER TO ENHANCE THE QUALITY OF LIFE FOR RESIDENTS IN THE ADJACENT NEIGHBORHOODS AND CREATE A STABLE BUSNIESS ENVIRONMENT.

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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 $39,092

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $39,092

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $3,772

Program Expenses $91,925

Other Expenses $97,809

TOTAL EXPENSES $97,809

Year-over-Year Comparison

	2023	2022	Change
Revenue	$39,092	$325,933	-0.9%
Expenses	$97,809	$137,972	-0.3%
Net Income	$-58,717	$187,961	-1.3%

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
JASON REECE	CHAIR, DIRECTOR	3.00	Officer Director	$0	$0	$0
MILLICENT HURTT	TREASURER, DIRECTOR	3.00	Officer Director	$0	$0	$0
TAIMUR CHAUDHRI	DIRECTOR	2.00	Director	$0	$0	$0
LOGAN DAWSON	DIRECTOR	2.00	Director	$0	$0	$0
CARLA FOUNTAINE	DIRECTOR	2.00	Director	$0	$0	$0
ALYSSA GARCIA	DIRECTOR	2.00	Director	$0	$0	$0
JORDAN HENDERSON	DIRECTOR	2.00	Director	$0	$0	$0
BRICE KASEE	DIRECTOR	2.00	Director	$0	$0	$0
AMANDA REYNOLDS	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL WHITMAN	DIRECTOR	2.00	Director	$0	$0	$0
KEITH WILBUR	DIRECTOR	2.00	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	No data	No data	No data	No data
2023	$39,092	$97,809	$169,102	$-58,717
2022	$325,933	$137,972	$235,009	$187,961

PARSONS AVENUE REDEVELOPMENT CORPORATION