WORD OF FAITH MINISTRIES INC (EIN 581898818) - 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

1990

Legal Domicile

Principal Officer

NSEOBONG G UTUK

Tax Period

2023-01-01 to 2023-12-31

WORD OF FAITH MINISTRIES INC, founded in 1990, is a community nonprofit in the Religion sector that reported $1.1M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year.

Mission

THE ORGANIZATIONS MISSION IS TO PROMOTE CHRISTIAN MISSIONS.

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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 $1,093,558

Program Service Revenue $0

Investment Income $184

Other Revenue $0

TOTAL REVENUE $1,093,742

Expense Breakdown

Grants Paid $586,047

Salaries & Benefits $181,450

Fundraising Expenses $0

Program Expenses $1,110,413

Other Expenses $342,916

TOTAL EXPENSES $1,110,413

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,093,742	$1,187,329	-0.1%
Expenses	$1,110,413	$1,157,765	0.0%
Net Income	$-16,671	$29,564	-1.6%

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

$178,063

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NSEOBONG G UTUK	PRESIDENT	40.00	Officer	$100,000	$62,063	$162,063
ENOBONG UTUK	TREASURER	0.00	Officer	$16,000	$0	$16,000
HARRY HUDSON	BOARD MEMBER	0.00	Director	$0	$0	$0
MATTHEW BISHOP	BOARD MEMBER	0.00	Director	$0	$0	$0
ALBERT BEASLEY	BOARD MEMBER	0.00	Director	$0	$0	$0
JESSE COPELAN	BOARD MEMBER	0.00	Director	$0	$0	$0
RANDY DANIEL	BOARD MEMBER	0.00	Director	$0	$0	$0
JOHNNY HARRELL	VICE PRESIDENT	0.00	Officer	$0	$0	$0
RON SMITH	CHAIRMAN	0.00	Officer	$0	$0	$0
BRENDA FARLEY	SECRETARY	0.00	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	No data	No data	No data	No data
2023	$1,093,742	$1,110,413	$1,414,647	$-16,671
2022	$1,187,329	$1,157,765	$1,463,377	$29,564
2021	$1,059,269	$1,034,313	$1,490,312	$24,956
2020	$779,496	$772,700	$1,510,361	$6,796
2019	$805,867	$720,944	$1,339,461	$84,923
2018	$711,044	$618,377	$1,339,448	$92,667

WORD OF FAITH MINISTRIES INC