PLACE OF HOPE MINISTRIES INC (EIN 582656313) - 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

2001

Legal Domicile

Principal Officer

CHRISTIANA ODUGUNWA

Phone

4042590780

Tax Period

2023-01-01 to 2023-12-31

PLACE OF HOPE MINISTRIES INC, founded in 2001, is a small nonprofit in the Food, Agriculture & Nutrition sector that reported $474K in total revenue in fiscal year 2023. Revenue fell 39% from the prior year — a significant decline worth monitoring.

Mission

To provide free clinic for the uninsured and underinsured and help reduce or eliminate hunger in our communities.

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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 $5,500

Program Service Revenue $473,358

Investment Income $0

Other Revenue $-5,207

TOTAL REVENUE $473,651

Expense Breakdown

Grants Paid $0

Salaries & Benefits $264,308

Fundraising Expenses $0

Program Expenses $326,513

Other Expenses $232,714

TOTAL EXPENSES $497,022

Year-over-Year Comparison

	2023	2022	Change
Revenue	$473,651	$777,798	-0.4%
Expenses	$497,022	$764,072	-0.3%
Net Income	$-23,371	$13,726	-2.7%

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

N/A

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
Christiana Odugunwa	PRESIDENT	040.00	Officer Director	$0	$0	$0
Bunmi Folarinde	TRUSTEE	005.00	Director	$0	$0	$0
Paul Aiyeyomi	TRUSTEE	002.00	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
2024	No data	No data	No data	No data
2023	$473,651	$497,022	$82,735	$-23,371
2022	$777,798	$764,072	$106,106	$13,726
2021	$1,320,224	$1,369,294	$92,380	$-49,070
2020	$1,265,061	$1,157,267	$141,450	$107,794
2019	$937,883	$934,083	$37,344	$3,800

PLACE OF HOPE MINISTRIES INC