The Psalm 23 Project Inc (EIN 582451919) - 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

1996

Legal Domicile

Principal Officer

Britt Jennings

Phone

4045555555

Tax Period

2023-01-01 to 2023-12-31

The Psalm 23 Project Inc, founded in 1996, is a small nonprofit in the Human Services sector that reported $341K in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $389K exceeded revenue, resulting in a 14% operating deficit.

Mission

Providing housing to elderly persons by operating a HUD-assisted apartment community regulated under Section 202 of the National Housing Act of 1959.

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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 $0

Program Service Revenue $339,697

Investment Income $12

Other Revenue $833

TOTAL REVENUE $340,542

Expense Breakdown

Grants Paid $0

Salaries & Benefits $100,068

Fundraising Expenses $0

Program Expenses $332,425

Other Expenses $288,695

TOTAL EXPENSES $388,763

Year-over-Year Comparison

	2023	2022	Change
Revenue	$340,542	$287,970	+0.2%
Expenses	$388,763	$364,828	+0.1%
Net Income	$-48,221	$-76,858	-0.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Britt Jennings	President	2.00	Officer Director	$0	$0	$0
Reverence Dr Collette Gundy	President	2.00	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	No data	No data	No data	No data
2023	$340,542	$388,763	$1,796,553	$-48,221
2022	$287,970	$364,828	$1,862,873	$-76,858
2021	$263,010	$352,861	$1,921,368	$-89,851
2020	$260,050	$335,938	$1,984,515	$-75,888

The Psalm 23 Project Inc