New Life Outreach Ministry Inc

EIN: 593013293 501(c)(3) Religion

Lakeland Florida, FL

Total Revenue
$280,538
Total Expenses
$325,224
Total Assets
$346,069
Net Assets
$343,792
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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

Principal Officer
Larry Mitchell
Tax Period
2023-01-01 to 2023-12-31

New Life Outreach Ministry Inc is a small nonprofit in the Religion sector that reported $281K in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $325K exceeded revenue, resulting in a 16% operating deficit.

Mission

To provide shelter and social services to homeless individuals.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $165,000
Program Service Revenue $115,530
Investment Income $8
Other Revenue $0
TOTAL REVENUE $280,538

Expense Breakdown

Grants Paid $0
Salaries & Benefits $12,025
Fundraising Expenses $0
Program Expenses $346,069
Other Expenses $305,380
TOTAL EXPENSES $325,224

Year-over-Year Comparison

2023 2022 Change
Revenue $280,538 $411,206 -0.3%
Expenses $325,224 $404,639 -0.2%
Net Income $-44,686 $6,567 -7.8%
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

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Governance

Voting Members
5
Independent Members
N/A
Employees
3
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
1
$12,025
Total Directors
6
$12,025
Key Employees
1
$12,025
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
C Williams Board Member 1
Director
$0 $0 $0
John Ruffin Board Member 1
Director
$0 $0 $0
Annie Phyall Board Member 1
Director
$0 $0 $0
Lark Mitchell Board Member 1
Director
$0 $0 $0
Larry Mitchell Bd Member CEO 40
Officer Director Key Emp
$12,025 $0 $12,025
Derrick Buggs Board Member 1
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 $280,538 $325,224 $346,069 $-44,686
2022 $411,206 $404,639 $404,225 $6,567
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