SPEC LABS INC (EIN 474785295) - 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

2018

Legal Domicile

Principal Officer

Jason Weissbrod

Phone

8189034669

Tax Period

2024-01-01 to 2024-12-31

SPEC LABS INC, founded in 2018, is a small nonprofit in the Human Services sector that reported $442K in total revenue in fiscal year 2024. Revenue surged 53% from the prior year, signaling strong growth momentum. Expenses of $385K left a modest 13% surplus.

Mission

To teach and promote art, music, film and production to young people with autism and special needs.

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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 $55,752

Program Service Revenue $354,007

Investment Income $1,395

Other Revenue $31,212

TOTAL REVENUE $442,366

Expense Breakdown

Grants Paid $0

Salaries & Benefits $162,107

Fundraising Expenses $0

Program Expenses $378,276

Other Expenses $223,092

TOTAL EXPENSES $385,199

Year-over-Year Comparison

	2024	2023	Change
Revenue	$442,366	$290,026	+0.5%
Expenses	$385,199	$224,180	+0.7%
Net Income	$57,167	$65,846	-0.1%

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

$150,275

Total Directors

$150,275

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Garth Herberg	C.O.O.	40.00	Officer Director	$75,000	$0	$75,000
Jason Weissbrod	President	40.00	Officer Director	$75,275	$0	$75,275

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	$442,366	$385,199	$137,112	$57,167
2023	$290,026	$224,180	$79,813	$65,846
2022	$183,981	$218,594	$13,767	$-34,613
2021	$168,486	$150,461	$48,280	$18,025
2020	$144,864	$155,290	$30,155	$-10,426
2019	$145,579	$210,975	$55,426	$-65,396
2018	$204,276	$101,903	$116,122	$102,373

SPEC LABS INC