Phoenix Employment Services of Wil… - 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

2002

Legal Domicile

Principal Officer

Will Rikard

Phone

9103438469

Tax Period

2023-07-01 to 2024-06-30

Phoenix Employment Services of Wilmingto Inc DBA StepUp Wilmington, founded in 2002, is a community nonprofit in the Employment sector that reported $1.2M in total revenue in fiscal year 2023. Revenue fell 33% from the prior year — a significant decline worth monitoring. Expenses of $1.4M exceeded revenue, resulting in a 16% operating deficit.

Mission

Phoenix Employment Services, Inc. (dba StepUp Wilmington) seeks to empower individuals to reach their potential and lead stable lives through satisfying work. StepUp Wilmington's vision is to create a community of prosperity and hope.

Program Service Accomplishments

Program 1

Expenses: $1,000,905 Revenue: $80,564

In fiscal year 2023/24, StepUp Wilmington served more than 400 individuals and places 263 jobs. StepUp's operations returned to fully in-person training for its Job and Step2 programs, the latter of which was rebranded to CareerUp during the fiscal year, focusing more on developing careers for StepUp candidates. In FY 2023/24, StepUp continued to build and grow Beyond Talent, its social enterprise staffing initiative acting as the primary job placement division for StepUp's "job ready" candidates. Beyond Talent maintains 30 contracts in the Cape Fear region and placed 24 candidates into jobs with an average wage of over $15/hour. In addition, the placements generated an employer-paid fee for the organization. Beyond Talent leverages the organization's existing base of business partners and strong workforce services to provide opportunities for its program participants in the broader jobs market. FY 2023/24 was the second year of operations for its Restorative Opportunity Internships (ROI) program. This initiative focuses on internships for teens.

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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 $1,087,994

Program Service Revenue $80,564

Investment Income $20,537

Other Revenue $0

TOTAL REVENUE $1,189,095

Expense Breakdown

Grants Paid $44,750

Salaries & Benefits $983,574

Fundraising Expenses $285,590

Program Expenses $1,000,905

Other Expenses $346,432

TOTAL EXPENSES $1,374,756

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,189,095	$1,762,888	-0.3%
Expenses	$1,374,756	$1,660,241	-0.2%
Net Income	$-185,661	$102,647	-2.8%

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

$105,867

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Riley Stephenson	President	0.00	Officer Director	$0	$0	$0
Henry Cherry	Treasurer	0.00	Officer Director	$0	$0	$0
Katharine Barrack	Secretary	0.00	Officer Director	$0	$0	$0
Meghan Cowan	Past President	0.00	Director	$0	$0	$0
Cory Newton	Director	0.00	Director	$0	$0	$0
Sandy Spiers	Director	0.00	Director	$0	$0	$0
Chester Wong	Director	0.00	Director	$0	$0	$0
Desmond Herbert	Director	0.00	Director	$0	$0	$0
Zachary Cockerham	Director	0.00	Director	$0	$0	$0
Will Rikard	Executive Director	1.00	Officer	$105,867	$0	$105,867

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	No data	No data	No data	No data
2024	$1,189,095	$1,374,756	$888,336	$-185,661
2023	$1,762,888	$1,660,241	$1,358,511	$102,647
2022	$1,242,849	$1,225,367	$1,322,817	$17,482
2021	$1,128,506	$990,265	$745,722	$138,241
2020	$910,960	$883,811	$731,175	$27,149
2019	$907,823	$798,179	$577,754	$109,644

Phoenix Employment Services of Wilmingto Inc DBA StepUp Wilmington