HOMEPLUS CARE (EIN 475223294) - 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

KYONG-JIN MIN

Phone

2158862167

Tax Period

2023-01-01 to 2023-12-31

HOMEPLUS CARE, founded in 2015, is a mid-sized nonprofit in the Health Care sector that reported $10.6M in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $9.7M left a modest 8% surplus.

Mission

TO PROVIDE AFFORDABLE HOME HEALTH CARE AND SOCIAL SERVICES TO THE COMMUNITY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $10,485,287

Investment Income $86,170

Other Revenue $26,908

TOTAL REVENUE $10,598,365

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,272,384

Fundraising Expenses $0

Program Expenses $8,393,707

Other Expenses $440,474

TOTAL EXPENSES $9,712,858

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,598,365	$8,144,111	+0.3%
Expenses	$9,712,858	$7,097,661	+0.4%
Net Income	$885,507	$1,046,450	-0.2%

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

314

Volunteers

N/A

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

$110,057

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KYONG-JIN MIN	EXECUTIVE DIRECTOR	40.00	Director	$110,057	$0	$110,057
WILLIE PAI	MEMBER	1.00	Director	$0	$0	$0
SANG SOO PARK	PRESIDENT	1.00	Officer	$0	$0	$0
SEUNG-HOON LEE	TREASURER	1.00	Officer	$0	$0	$0
FELICIA TROUTMAN	SECRETARY	1.00	Officer	$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	No data	No data	No data	No data
2023	$10,598,365	$9,712,858	$4,324,602	$885,507
2022	$8,144,111	$7,097,661	$3,303,265	$1,046,450
2021	$5,594,206	$5,069,559	$2,217,738	$524,647
2020	$4,424,910	$3,462,363	$1,582,799	$962,547
2019	$2,445,932	$2,096,516	$423,497	$349,416

HOMEPLUS CARE