SOMERSET COUNTY LOCAL MANAGEMENT B… - Form 990 Financial Data

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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

2011

Legal Domicile

Principal Officer

VERNON SPRIGGS

Phone

4106512963

Tax Period

2024-07-01 to 2025-06-30

SOMERSET COUNTY LOCAL MANAGEMENT BOARD INC, founded in 2011, is a small nonprofit in the Youth Development sector that reported $871K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

OUR MISSION IS TO PROMOTE A SAFE, HEALTHY AND STABLE ENVIRONMENT FOR ALL SOMERSET COUNTY CHILDREN AND FAMILIES BY FACILITATING COMPREHENSIVE SYSTEMS OF EDUCATION, HEALTH AND HUMAN SERVICES THROUGH PUBLIC AND PRIVATE INTERAGENCY COLLABORATION.

Program Service Accomplishments

Program 1

Expenses: $441,872

HEALTHY FAMILIES LOWER SHORE IS A FREE AND VOLUNTEER HOME VISITING PROGRAM FOR ANY NEW PARENT IN SOMERSET COUNTY. PARENTS CAN ENROLL IN THE PROGRAM WHEN THEY FIND OUT THEY ARE PREGNANT AND UNTIL THE...

Program 2

Expenses: $71,660

THE PARENTING SKILLS DEVELOPMENT PROGRAM PROVIDES FREE, REGULAR PARENTING CLASSES IN SOMERSET COUNTY AT THE SOMERSET COUNTY DETENTION CENTER, EASTERN SHORE CORRECTIONAL INSTITUTE, AND THE SOMERSET...

THE PARENTING SKILLS DEVELOPMENT PROGRAM PROVIDES FREE, REGULAR PARENTING CLASSES IN SOMERSET COUNTY AT THE SOMERSET COUNTY DETENTION CENTER, EASTERN SHORE CORRECTIONAL INSTITUTE, AND THE SOMERSET COUNTY SHELTER CENTER TO SUPPORT FAMILY CHANGE IN A CLASS SETTING.

Program 3

Expenses: $41,650

THE PREPARING CHILDREN FOR SCHOOL PROGRAM WILL PROVIDE PACKETS OF SCHOOL READINESS MATERIALS TO ALL STUDENTS ENROLLED IN PRE-K3 AND PRE-K4. THE KITS WILL ADDRESS THE LEARNING DOMAINS OF MATH...

THE PREPARING CHILDREN FOR SCHOOL PROGRAM WILL PROVIDE PACKETS OF SCHOOL READINESS MATERIALS TO ALL STUDENTS ENROLLED IN PRE-K3 AND PRE-K4. THE KITS WILL ADDRESS THE LEARNING DOMAINS OF MATH, LANGUAGE, LITERACY, SOCIAL FOUNDATIONS, AND PHYSICAL DEVELOPMENT. PARENTS WILL ALSO BE INVITED TO LEARN ABOUT SCHOOL READINESS.

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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 $870,551

Program Service Revenue $0

Investment Income $17

Other Revenue $0

TOTAL REVENUE $870,568

Expense Breakdown

Grants Paid $625,300

Salaries & Benefits $165,550

Fundraising Expenses $0

Program Expenses $718,696

Other Expenses $79,643

TOTAL EXPENSES $870,493

Year-over-Year Comparison

	2024	2023	Change
Revenue	$870,568	$794,414	+0.1%
Expenses	$870,493	$784,919	+0.1%
Net Income	$75	$9,495	-1.0%

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

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

$65,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GARLAND HAYWARD	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
JENNIFER TRAGER	BOARD CO-CHAIR	1.00	Officer Director	$0	$0	$0
WESSMAN GARNER	TREASURER	1.00	Officer Director	$0	$0	$0
ED GOYDA	DIRECTOR	1.00	Director	$0	$0	$0
RONNIE HOWARD	DIRECTOR	1.00	Director	$0	$0	$0
DOROTHY BELL-JACKSON	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER WIMBROW JENKINS	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG MATHIES	DIRECTOR	1.00	Director	$0	$0	$0
CLAUDIA NESLSON	DIRECTOR	1.00	Director	$0	$0	$0
GERMAINE RICHARDSON	DIRECTOR	1.00	Director	$0	$0	$0
CLINT STERLING	DIRECTOR	1.00	Director	$0	$0	$0
DANIELLE WEBER	DIRECTOR	1.00	Director	$0	$0	$0
LAURESA WIGFALL	DIRECTOR	1.00	Director	$0	$0	$0
WALTER WOODS	DIRECTOR	1.00	Director	$0	$0	$0
VERNON SPRINGS	EXECUTIVE DIRECTOR	40.00	Officer	$65,000	$0	$65,000

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
2025	$870,568	$870,493	$562,829	$75
2024	$794,414	$784,919	$562,975	$9,495
2023	$857,675	$863,496	$551,740	$-5,821
2022	$722,046	$727,087	$554,412	$-5,041
2021	$792,362	$778,134	$854,420	$14,228
2020	$767,096	$745,644	$622,680	$21,452
2019	$961,708	$932,002	$607,721	$29,706
2018	$820,785	$823,021	$453,978	$-2,236

SOMERSET COUNTY LOCAL MANAGEMENT BOARD INC