LET'S INNOVATE THROUGH EDUCATION DBA LIT (EIN 472532088) - 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

2015

Legal Domicile

Principal Officer

LARISSA GREGORY

Phone

9014268954

Tax Period

2021-06-01 to 2022-05-31

LET'S INNOVATE THROUGH EDUCATION DBA LIT, founded in 2015, is a small nonprofit that reported $429K in total revenue in fiscal year 2021. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $503K exceeded revenue, resulting in a 17% operating deficit.

Mission

EQUIPPING AFRICAN AMERICAN AND LATINX STUDENTS WITH 21ST CENTURY SKILLS TO CREATE WEALTH.

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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 (2021)

Revenue Breakdown

Contributions & Grants $427,951

Program Service Revenue $0

Investment Income $0

Other Revenue $993

TOTAL REVENUE $428,944

Expense Breakdown

Grants Paid $5,650

Salaries & Benefits $364,329

Fundraising Expenses $3,903

Program Expenses $303,705

Other Expenses $133,111

TOTAL EXPENSES $503,090

Year-over-Year Comparison

	2021	2020	Change
Revenue	$428,944	$599,659	-0.3%
Expenses	$503,090	$509,015	0.0%
Net Income	$-74,146	$90,644	-1.8%

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

$165,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHERMAN S BROWN	TRUSTEE	5.00	Director	$0	$0	$0
KEITH COLLINS	TRUSTEE	5.00	Director	$0	$0	$0
FAYRE CROSSLEY	TRUSTEE	5.00	Director	$0	$0	$0
FRANKIE DAKIN	TRUSTEE	5.00	Director	$0	$0	$0
JONATHAN FRISCH	CHAIR	5.00	Officer Director	$0	$0	$0
SCOTT NOTOWICH	TREASURER	5.00	Officer Director	$0	$0	$0
BILL O'CONNOR	TRUSTEE	5.00	Director	$0	$0	$0
MICHAEL SCRUGGS	TRUSTEE	5.00	Director	$0	$0	$0
MICHAEL WHALEY	TRUSTEE	5.00	Director	$0	$0	$0
AUDREY WILLIS	TRUSTEE	5.00	Director	$0	$0	$0
LEE MORRIS	TRUSTEE	5.00	Director	$0	$0	$0
BUD RICHEY	TRUSTEE	5.00	Director	$0	$0	$0
TALIA PALACIO	TRUSTEE	5.00	Director	$0	$0	$0
LAKETHIA GLENN	FORMER EXECUTIVE DIRECTOR	40.00	Officer	$75,000	$0	$75,000
LARISSA GREGORY	EXECUTIVE DIRECTOR	40.00	Officer	$90,000	$0	$90,000

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
2022	$428,944	$503,090	$211,246	$-74,146
2021	$599,659	$509,015	$293,201	$90,644
2020	$623,943	$503,165	$246,404	$120,778

LET'S INNOVATE THROUGH EDUCATION DBA LIT