BOAT PEOPLE S O S INC

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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

2003

Legal Domicile

Principal Officer

Nguyen Dinh Thang

Tax Period

2024-01-01 to 2024-12-31

BOAT PEOPLE S O S INC, founded in 2003, is a community nonprofit in the Human Services sector that reported $2.3M in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. Expenses of $3.3M exceeded revenue, resulting in a 43% operating deficit.

Mission

To assist Vietnamese refugees and immigrants in their search for life in liberty and dignity by empowering and organizing Vietnamese American communities in their progress towards self sufficiency

Program Service Accomplishments

Program 1

Expenses: $2,123,150 Revenue: $0

With teams of qualified staff and passionate volunteers operating in 7 office locations across the United States and internationally, we empower individuals, strengthen families, and build...

With teams of qualified staff and passionate volunteers operating in 7 office locations across the United States and internationally, we empower individuals, strengthen families, and build communities through: - Direct Services - Advocacy - Community Organizing and Development - Media - Research - Leadership Development

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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 $1,986,870

Program Service Revenue $102,761

Investment Income $191,710

Other Revenue $0

TOTAL REVENUE $2,281,341

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,108,471

Fundraising Expenses $0

Program Expenses $2,123,150

Other Expenses $2,145,751

TOTAL EXPENSES $3,254,222

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,281,341	$2,705,857	-0.2%
Expenses	$3,254,222	$2,717,441	+0.2%
Net Income	$-972,881	$-11,584	+83.0%

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

$236,415

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Nguyen Dinh Thang	PRESIDENT & CEO	40	Officer	$121,150	$7,705	$128,855
Khanh Tran	COO	40	Officer	$103,939	$3,621	$107,560
Tuyet N Dinh	Chair	2	Director	$0	$0	$0
Long Nguyen	Treasurer	2	Director	$0	$0	$0
Kim Mai	Secretary	2	Director	$0	$0	$0
Michelle Le	Trustee	2	Officer	$0	$0	$0
Nga Dinh	Trustee	2	Officer	$0	$0	$0
Amina Fields	Trustee	2	Officer	$0	$0	$0
Shireen Hormozdi	Legal Counsel	2	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	$2,281,341	$3,254,222	$4,820,490	$-972,881
2023	$2,705,857	$2,717,441	$3,411,747	$-11,584
2022	$6,022,652	$5,105,409	$4,580,767	$917,243
2021	$5,132,509	$3,999,671	$4,560,305	$1,132,838
2021	$5,132,509	$3,999,671	$4,560,305	$1,132,838
2020	$3,532,642	$3,348,349	$3,393,397	$184,293
2020	$3,532,642	$3,348,349	$3,393,397	$184,293
2019	$4,658,172	$5,141,432	$2,417,510	$-483,260
2019	$3,449,068	$3,717,588	$2,682,229	$-268,520
2018	$3,642,568	$3,278,976	$2,820,796	$363,592
2018	$3,642,568	$3,178,976	$2,920,796	$463,592