RIDE SOLUTION INC

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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

1984

Legal Domicile

Principal Officer

BOYD THOMPSON

Phone

3863252249

Tax Period

2024-07-01 to 2025-06-30

RIDE SOLUTION INC, founded in 1984, is a community nonprofit in the Human Services sector that reported $2.6M in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum.

Mission

TO PROVIDE TRANSPORTATION TO DISADVANTAGED INDIVIDUALS SO THAT THEY CAN OBTAIN ACCESS TO HEALTHCARE, EDUCATION, EMPLOYMENT, SHOPPING, AND OTHER ACTIVITIES.

Program Service Accomplishments

Program 1

Expenses: $2,269,366

THE ORGANIZATION PROVIDED TRANSPORTATION SERVICES TO DISABLED, POOR, AND AGED CITIZENS IN AND AROUND PALATKA, FLORIDA.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,422,049

Program Service Revenue $157,121

Investment Income $-1,518

Other Revenue $0

TOTAL REVENUE $2,577,652

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,156,476

Fundraising Expenses $0

Program Expenses $2,269,366

Other Expenses $1,483,501

TOTAL EXPENSES $2,639,977

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,577,652	$2,131,417	+0.2%
Expenses	$2,639,977	$2,882,716	-0.1%
Net Income	$-62,325	$-751,299	-0.9%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BOYD THOMPSON	EXECUTIVE DI	40.00	Officer	$0	$0	$0
CAROL COFFIE	CHAIR/PRESID	1.00	Officer Director	$0	$0	$0
WAYNE MCCLAIN	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
MARY GARCIA	TREASURER	1.00	Officer Director	$0	$0	$0
JACKIE PORTER	BOARD MEMBER	1.00	Director	$0	$0	$0
SHEILA MCCOY	BOARD MEMBER	1.00	Director	$0	$0	$0
BILL PICKENS	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSHUA ALEXANDER	BOARD MEMBER	1.00	Director	$0	$0	$0
MATTIE BONDS	BOARD MEMBER	1.00	Director	$0	$0	$0
DR JOSEFINA RIVERA	BOARD MEMBER	1.00	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
2025	$2,577,652	$2,639,977	$2,872,880	$-62,325
2024	$2,131,417	$2,882,716	$2,977,823	$-751,299
2023	$2,793,558	$3,112,377	$3,602,172	$-318,819
2022	$3,163,005	$2,792,828	$3,947,125	$370,177
2021	$2,566,101	$2,525,667	$3,768,180	$40,434
2020	$3,116,068	$2,516,443	$3,736,863	$599,625
2019	$2,751,862	$2,577,445	$2,868,214	$174,417
2018	$2,819,609	$2,876,740	$2,756,479	$-57,131
2017	$2,538,271	$2,378,986	$2,759,529	$159,285