INSTITUTE FOR WORSHIP STUDIES FLORIDA CAMPUS INC (EIN 593576254) - 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

1999

Legal Domicile

Principal Officer

CONSTANCE CHERRY

Phone

9042642172

Tax Period

2023-07-01 to 2024-06-30

INSTITUTE FOR WORSHIP STUDIES FLORIDA CAMPUS INC, founded in 1999, is a small nonprofit in the Religion sector that reported $967K in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $1.2M exceeded revenue, resulting in a 28% operating deficit.

Mission

THE INSTITUTE FOR WORSHIP STUDIES FORMS SERVANT LEADERS IN CHRISTIAN WORSHIP RENEWAL AND EDUCATION THROUGH GRADUATE ACADEMIC PRAXIS, GROUNDED IN BIBLICAL, HISTORICAL, THEOLOGICAL, CULTURAL AND MISSIOLOGICAL REFLECTION IN COMMUNITY.

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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 $234,079

Program Service Revenue $695,727

Investment Income $36,901

Other Revenue $0

TOTAL REVENUE $966,707

Expense Breakdown

Grants Paid $109,516

Salaries & Benefits $672,650

Fundraising Expenses $229,771

Program Expenses $658,690

Other Expenses $459,250

TOTAL EXPENSES $1,241,416

Year-over-Year Comparison

	2023	2022	Change
Revenue	$966,707	$1,037,334	-0.1%
Expenses	$1,241,416	$1,114,289	+0.1%
Net Income	$-274,709	$-76,955	+2.6%

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

$157,728

Total Directors

$115,280

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES R HART	PRESIDENT	40.00	Officer Director	$79,280	$36,000	$115,280
CHRISTINE MATTESON	VP FINANCE/A	40.00	Officer	$42,448	$0	$42,448
ERIC BOLGLER	BOARD MEMBER	1.00	Director	$0	$0	$0
KAI TON CHAU	SECRETARY/TR	1.00	Officer Director	$0	$0	$0
CONSTANCE CHERRY	BOARD MEMBER	1.00	Director	$0	$0	$0
LAURA ELVINGTON	BOARD MEMBER	1.00	Director	$0	$0	$0
WENDY LAYLAND	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
JOHN LINDSELL	VICE CHAIR	1.00	Officer Director	$0	$0	$0
REUBEN RUBIO	BOARD MEMBER	1.00	Director	$0	$0	$0
EMIL ALBERTINI	CFO (7/2024)	40.00	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
2025	No data	No data	No data	No data
2024	$966,707	$1,241,416	$649,431	$-274,709
2023	$1,037,334	$1,114,289	$883,639	$-76,955
2022	$1,052,385	$1,080,829	$913,785	$-28,444
2021	$1,091,456	$957,508	$1,055,210	$133,948
2020	$1,014,971	$978,996	$890,430	$35,975
2019	$1,063,504	$1,019,316	$769,151	$44,188
2018	$964,560	$914,294	$721,116	$50,266

INSTITUTE FOR WORSHIP STUDIES FLORIDA CAMPUS INC