PARK PLACE SCHOOL 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

1999

Legal Domicile

Principal Officer

SHIRLEY HAYWOOD

Phone

7576243473

Tax Period

2023-07-01 to 2024-06-30

PARK PLACE SCHOOL INC, founded in 1999, is a small nonprofit that reported $518K in total revenue in fiscal year 2023. Revenue fell 48% from the prior year — a significant decline worth monitoring. Expenses of $831K exceeded revenue, resulting in a 60% operating deficit.

Mission

THE MISSION OF PARK PLACE SCHOOL IS TO MAKE OUR CITY A MORE CHRIST CENTERED PLACE BY STRENGTHENING YOUNG MEN AND WOMEN SPIRITUALLY, ACADEMICALLY AND REALITIONALLY TO LOVE AND SERVE JESUS.

Program Service Accomplishments

Program 1

Expenses: $701,836 Revenue: $265

PARK PLACE SCHOOL PROVIDES AT-RSIK STUDENTS IN GRADES 3RD-8TH FROM LOW- INCOME BACKGROUNDS THE OPPORTUNITY TO LEARN THE BASIC READING, SPELLING, AND MATH SKILLS NECESSARY FOR ACADEMIC SUCCESS IN A...

PARK PLACE SCHOOL PROVIDES AT-RSIK STUDENTS IN GRADES 3RD-8TH FROM LOW- INCOME BACKGROUNDS THE OPPORTUNITY TO LEARN THE BASIC READING, SPELLING, AND MATH SKILLS NECESSARY FOR ACADEMIC SUCCESS IN A NURTURING ENVIRONMENT BASED ON CHRISTIAN VALUES. THE SCHOOL OPERATES ON CONTRIBUTIONS AND ALSO BY DONATIONS THROUGH TAX CREDIT PROGRAMS FROM THE VIRGINIA DEPARTMENT OF EDUCATION.

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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 $675,819

Program Service Revenue $265

Investment Income $-160,272

Other Revenue $2,500

TOTAL REVENUE $518,312

Expense Breakdown

Grants Paid $7,109

Salaries & Benefits $544,896

Fundraising Expenses $8,352

Program Expenses $701,836

Other Expenses $278,778

TOTAL EXPENSES $830,783

Year-over-Year Comparison

	2023	2022	Change
Revenue	$518,312	$1,004,716	-0.5%
Expenses	$830,783	$857,721	0.0%
Net Income	$-312,471	$146,995	-3.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE FARISS	MEMBER AT LA	N/A	Director	$0	$0	$0
SHIRLEY HAYWOOD	MEMBER AT LA	N/A	Director	$0	$0	$0
DR TABMITHA JERVEY	FOUNDER/MEMB	N/A	Officer Director	$0	$0	$0
TIMOTHY LATLIFF	MEMBER AT LA	N/A	Director	$0	$0	$0
OLYMPHIA PERKINS	MEMBER AT LA	N/A	Director	$0	$0	$0
ALEEA SLAPPY	MEMBER AT LA	N/A	Director	$0	$0	$0
ROBERT SLAUGHTER	MEMBER AT LA	N/A	Director	$0	$0	$0
DORA LEE TAYLOR	MEMBER AT LA	N/A	Director	$0	$0	$0
DR KAREN UPTON	PRESIDENT	N/A	Officer 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	$518,312	$830,783	No data	$-312,471
2023	$1,004,716	$857,721	$593,883	$146,995
2022	$617,371	$727,746	$414,956	$-110,375
2021	$752,546	$641,352	$525,331	$111,194
2020	$397,601	$703,359	$514,410	$-305,758
2019	$671,334	$686,043	$725,910	$-14,709