TRUFUND FINANCIAL SERVICES INC (EIN 593814814) - 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

2005

Legal Domicile

Principal Officer

JAMES BASON

Phone

2122041328

Tax Period

2023-01-01 to 2023-12-31

TRUFUND FINANCIAL SERVICES INC, founded in 2005, is a mid-sized nonprofit in the Community Improvement sector that reported $12.0M in total revenue in fiscal year 2023. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $10.6M left a modest 12% surplus.

Mission

PROVIDE FINANCING AND TECHNICAL ASSISTANCE TO SMALL BUSINESSES AND NON-PROFIT ORGANIZATIONS.

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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 $8,000,690

Program Service Revenue $3,057,490

Investment Income $454,588

Other Revenue $491,754

TOTAL REVENUE $12,004,522

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,694,951

Fundraising Expenses $444,197

Program Expenses $6,872,484

Other Expenses $3,884,288

TOTAL EXPENSES $10,579,239

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,004,522	$16,024,804	-0.3%
Expenses	$10,579,239	$9,625,966	+0.1%
Net Income	$1,425,283	$6,398,838	-0.8%

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

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

$598,547

Total Directors

Key Employees

$225,006

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLOTTE LEE	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
DOUGLAS JACKSON	BOARD MEMBER - RETIRED JUNE 2023	1.00	Director	$0	$0	$0
CHERI MORIAL AUSBERRY	BOARD MEMBER	1.00	Director	$0	$0	$0
CELAYNE HILL	SECRETARY	1.00	Director	$0	$0	$0
CARRA WALLACE	BOARD MEMBER	1.00	Director	$0	$0	$0
RONALD TOROK	BOARD MEMBER	1.00	Director	$0	$0	$0
TERRENCE CLARK	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
DR ADRIAN FRANCO	BOARD MEMBER	1.00	Director	$0	$0	$0
MARC THOMPSON JR	TREASURER	1.00	Director	$0	$0	$0
HEIDI HAMILTON	BOARD MEMBER	1.00	Director	$0	$0	$0
CARMEN MANOYAN	BOARD MEMBER	1.00	Director	$0	$0	$0
WORLEY BARKER	BOARD MEMBER	1.00	Director	$0	$0	$0
KIMBERLY HARDY	BOARD MEMBER - JOINED SEPTEMBER 2023	1.00	Director	$0	$0	$0
GEORGE BUCHANAN III	BOARD MEMBER - JOINED DECEMBER 2023	1.00	Director	$0	$0	$0
JAMES BASON	PRESIDENT - CHIEF EXECUTIVE OFFICER	35.00	Officer	$389,084	$23,280	$412,364
DOMONICA L EDWARDS	SENIOR VICE PRESIDENT	35.00	Officer	$186,183	$0	$186,183
KENNETH HARVEY	SVP - DIRECTOR OF FINANCE	35.00	Key Emp	$222,741	$2,265	$225,006
BRIAN GURSKI	SVP - DIR OF STRATEGY & INNOVATION	35.00	Highest	$180,101	$9,327	$189,428
MICHAEL VAUGH	SVP - CHIEF CREDIT OFFICER	35.00	Highest	$200,318	$18,750	$219,068
ROBERT BENITEZ	SVP - NATIONAL DIRECTOR OF LENDING	35.00	Highest	$184,485	$7,536	$192,021
MATHEW SHAPIRO	SVP DIRECTOR OF RESOURCE DEVELOPMENT	35.00	Highest	$187,646	$7,527	$195,173
AKIMIE CARTER EVANS	SVP - MANAGING DIRECTOR NAT'L MARKET	35.00	Highest	$187,413	$10,508	$197,921

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	$12,004,522	$10,579,239	$51,843,427	$1,425,283
2022	$16,024,804	$9,625,966	$48,532,112	$6,398,838
2019	$2,317,905	$5,007,275	$14,181,328	$-2,689,370
2018	$5,035,334	$6,055,777	$14,368,346	$-1,020,443

TRUFUND FINANCIAL SERVICES INC