GENERAL NEEDS LTD (EIN 473930824) - 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

LONNIE SHERMAN

Phone

6312661672

Tax Period

2024-01-01 to 2024-12-31

GENERAL NEEDS LTD, founded in 2015, is a small nonprofit in the Public & Societal Benefit sector that reported $535K in total revenue in fiscal year 2024. Revenue surged 140% from the prior year, signaling strong growth momentum. The organization ran a surplus of $131K, a strong 25% operating margin.

Mission

TO PROVIDE THE BASIC NECESSITIES OF LIFE THROUGH FINANCIAL AND MATERIAL DONATIONS TO THE HOMELESS AND VETERANS IN NEED

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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 $464,812

Program Service Revenue $0

Investment Income $15,480

Other Revenue $54,245

TOTAL REVENUE $534,537

Expense Breakdown

Grants Paid $305,560

Salaries & Benefits $0

Fundraising Expenses $6,230

Program Expenses $382,594

Other Expenses $97,525

TOTAL EXPENSES $403,085

Year-over-Year Comparison

	2024	2023	Change
Revenue	$534,537	$223,061	+1.4%
Expenses	$403,085	$313,427	+0.3%
Net Income	$131,452	$-90,366	-2.5%

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

N/A

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LONNIE SHERMAN	PRESIDENT	36.00	Officer Director	$0	$0	$0
SUSAN SHERMAN	SECRETARY	15.00	Officer Director	$0	$0	$0
LINDA AZZARA	TREASURER	6.00	Officer Director	$0	$0	$0
ALEX PAYKIN ESQ	TRUSTEE	2.00	Director	$0	$0	$0
GLENN FITZE	TRUSTEE	3.00	Director	$0	$0	$0
KATHY PALEAZ	TRUSTEE	3.00	Director	$0	$0	$0
MIKE WHALEN	TRUSTEE	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
2024	$534,537	$403,085	$595,044	$131,452
2023	$223,061	$309,027	$473,359	$-85,966
2023	$223,061	$313,427	$473,359	$-90,366
2022	$414,689	$220,407	$514,184	$194,282
2021	$192,772	$141,569	$293,188	$51,203
2020	$209,867	$173,366	$241,985	$36,501

GENERAL NEEDS LTD