INSPIRE THE FIRE INC (EIN 562403601) - 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

2004

Legal Domicile

Principal Officer

DENNIS REED JR

Phone

7043352395

Tax Period

2023-01-01 to 2023-12-31

INSPIRE THE FIRE INC, founded in 2004, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $7K in total revenue in fiscal year 2023. Revenue fell 61% from the prior year — a significant decline worth monitoring. Expenses of $48K exceeded revenue, resulting in a 570% operating deficit.

Mission

INSPIRE THE FIRE INC. IS A NON-PROFIT ORGANIZATION THAT PROVIDES STUDENTS, AGES 10 - 19, COACHING IN ARTISTIC DEVELOPMENT, LIFE SKILLS AND COMMUNITY ENGAGEMENT. EACH PARTICIPANT IS REQUIRED TO CHOOSE AN ARTISTIC MAJOR OF CONCENTRATION. CURRENT MAJORS INCLUDE: DANCE, VOICE, THEATER, SPOKEN WORD, RAP AND VISUAL ARTS. PARTICIPANTS ARE GUIDED IN THEIR MAJOR AND SUPPORTED BY OUR ENTIRE TEAM TO LEARN AND GROW AS INDIVIDUALS. THE ORGANIZATION MEETS AND PRACTICES BI-WEEKLY AND PERFORM IN CHARLOTTE, NC, AND SURROUNDING AREAS YEAR ROUND. EACH YEAR, INSPIRE THE FIRE HELPS NEARLY 400 YOUTH PREPARE FOR THEIR FUTURE. MISSION: HELP YOUNG PEOPLE SUCCEED ON STAGE AND IN LIFE.

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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 $3,824

Program Service Revenue $3,326

Investment Income $0

Other Revenue $0

TOTAL REVENUE $7,150

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $44,345

Other Expenses $47,918

TOTAL EXPENSES $47,918

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,150	$18,236	-0.6%
Expenses	$47,918	$31,761	+0.5%
Net Income	$-40,768	$-13,525	+2.0%

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

N/A

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

$3,000

Total Directors

$16,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TONICIA MULLINS	SECRETARY	15.00	Director	$16,200	$0	$16,200
DENNIS REED JR	CEO	15.00	Officer	$3,000	$0	$3,000
MONICA BACON	CHAIRMAN/TRE	7.00	Officer Director	$0	$0	$0
MELANIE PRATT	CO-CHAIRMAN	2.00	Officer Director	$0	$0	$0
JERRI REED	EMERITUS AT	3.00	Director	$0	$0	$0
DENNIS REED SR	EMERITUS AT	2.00	Director	$0	$0	$0
JONATHAN STEWART	BOARD MEMBER	2.00	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
2023	$7,150	$47,918	$63,038	$-40,768
2022	$18,236	$31,761	$103,736	$-13,525
2021	$33,629	$42,052	$118,960	$-8,423
2020	$19,335	$55,428	$127,798	$-36,093
2019	$145,965	$107,275	$165,220	$38,690
2018	$167,333	$76,139	$128,507	$91,194

INSPIRE THE FIRE INC