MEMPHIS, TN
4 risk indicators measuring financial stability and operational resilience
Sign in with your work email to view Tuckman-Chang indicators
Sign In — Free (10 views/day)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.
LET'S INNOVATE THROUGH EDUCATION'S MISSION IS TO EQUIP AFRICAN AMERICAN AND LATINX STUDENTS WITH 21ST CENTURY SKILLS TO BUILD WEALTH THROUGH ENTREPRENEURSHIP.
LITE FINALIST PROGRAMTHE LITE FINALIST PROGRAM WORKS WITH HIGH SCHOOL STUDENTS ON DESIGNING ENTREPRENEURIAL IDEAS AND LEARNING 21ST CENTURY SKILLS SUCH AS PROBLEM SOLVING, ORGANIZATION, GOAL SETTING...
LITE FINALIST PROGRAMTHE LITE FINALIST PROGRAM WORKS WITH HIGH SCHOOL STUDENTS ON DESIGNING ENTREPRENEURIAL IDEAS AND LEARNING 21ST CENTURY SKILLS SUCH AS PROBLEM SOLVING, ORGANIZATION, GOAL SETTING, NETWORKING, COMMUNICATION, AND FINANCIAL LITERACY. STUDENTS GATHER CUSTOMER FEEDBACK, CREATE A BRAND AND LOGO, AND IMPLEMENT THEIR PROJECT IN THE COMMUNITY. THE PROGRAM CULMINATES WITH A DEMO DAY WHERE STUDENTS PITCH THEIR IDEAS TO MEMBERS OF THE COMMUNITY.
LITE INNOVATION FELLOWS PROGRAMLITE INNOVATION FELLOWS CONTINUES THE WORK OF THE LITE FINALIST PROGRAM BY PROVIDING 1 ON 1 COACHING, INTERNSHIPS, AND NETWORKING FOR FORMER FINALISTS UNTIL THE AGE OF...
LITE INNOVATION FELLOWS PROGRAMLITE INNOVATION FELLOWS CONTINUES THE WORK OF THE LITE FINALIST PROGRAM BY PROVIDING 1 ON 1 COACHING, INTERNSHIPS, AND NETWORKING FOR FORMER FINALISTS UNTIL THE AGE OF 25. STUDENTS ARE COACHED ON HOW TO LAUNCH A BUSINESS, PROVIDED WITH PAID INTERNSHIPS AT HIGH GROWTH STARTUPS AND ARE MATCHED WITH MENTORS THROUGH NETWORKING EVENTS. THE GOALS OF THE PROGRAM IS TO PREPARE STUDENTS TO LAUNCH A SCALABLE BUSINESS BY THE AGE OF 25.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
Sign in to view Trantor Score and financial metrics
Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 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% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
Sign in to view all financial metrics
Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| 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 |
| 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 |
Compare LET'S INNOVATE THROUGH EDUCATION DBA LIT with other nonprofits in Tennessee and across the country.