Norfolk Rescue Mission Inc (EIN 470800815) - 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

1996

Legal Domicile

Principal Officer

William Perrigan

Phone

4023716484

Tax Period

2024-01-01 to 2024-12-31

Norfolk Rescue Mission Inc, founded in 1996, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $685K in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Net assets of $3.0M represent 53 months of operating reserves.

Mission

Religious/Benevolent

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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 $472,601

Program Service Revenue $0

Investment Income $212,478

Other Revenue $235

TOTAL REVENUE $685,314

Expense Breakdown

Grants Paid $0

Salaries & Benefits $426,224

Fundraising Expenses $0

Program Expenses $688,133

Other Expenses $261,909

TOTAL EXPENSES $688,133

Year-over-Year Comparison

	2024	2023	Change
Revenue	$685,314	$598,351	+0.1%
Expenses	$688,133	$672,631	+0.0%
Net Income	$-2,819	$-74,280	-1.0%

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

Total Directors

Key Employees

$76,710

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Pastor William Perrigan	Exec. Director	45.00	Key Emp Highest	$76,710	$0	$76,710
John Grimes	Chairman	2.00	Officer Director	$0	$0	$0
Clark Jenkinson	Secretary/Treasurer	2.00	Officer Director	$0	$0	$0
Randy Rodenborg	vice chairman	2.00	Officer Director	$0	$0	$0
Dan Poppe	board member	2.00	Director	$0	$0	$0
Luke Kruse	board member	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	$685,314	$688,133	$3,044,964	$-2,819
2023	$598,351	$672,631	$3,047,726	$-74,280
2022	$565,625	$646,048	$3,126,085	$-80,423
2021	$715,064	$623,872	$3,113,602	$91,192
2020	$658,444	$527,978	$2,811,139	$130,466
2019	$439,518	$541,717	$2,681,248	$-102,199
2018	$526,570	$513,099	$431,626	$13,471

Norfolk Rescue Mission Inc