Lifesong Ministries

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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

1947

Legal Domicile

Principal Officer

Joseph Boyd

Phone

9313596112

Tax Period

2023-01-01 to 2023-12-31

Lifesong Ministries, founded in 1947, is a small nonprofit that reported $453K in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $169K, a strong 37% operating margin.

Mission

Church Activities Worship the Lord, Reach the Lost, Disciple Believers, Equip for Ministry, Celebrate Unity, Live out the Love of Christ

Program Service Accomplishments

Program 1

Expenses: $284,302 Revenue: $446,770

Teach the Gospel to community and bring individuals into church activities

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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 $446,770

Program Service Revenue $0

Investment Income $76

Other Revenue $6,000

TOTAL REVENUE $452,846

Expense Breakdown

Grants Paid $17,211

Salaries & Benefits $133,669

Fundraising Expenses $0

Program Expenses $284,302

Other Expenses $133,422

TOTAL EXPENSES $284,302

Year-over-Year Comparison

	2023	2022	Change
Revenue	$452,846	$381,757	+0.2%
Expenses	$284,302	$266,346	+0.1%
Net Income	$168,544	$115,411	+0.5%

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

$74,360

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Greg Fuller	Chairman	1.00	Director	$0	$0	$0
Joe Boyd	President/Lead Pastor	2.00	Director	$44,044	$0	$44,044
Gary Fuller	Vice President, Executive Pastor	2.00	Director	$0	$0	$0
Ricky Norris	Treasurer	5.00	Director	$0	$0	$0
Lisa Raymond	Secretary	2.00	Director	$30,316	$0	$30,316
Joe McCullough	Board	1.00	Director	$0	$0	$0
Victor Raymond	Board	1.00	Director	$0	$0	$0
Doug Farmer	Board	1.00	Director	$0	$0	$0
Mike Stutzman	Board	1.00	Director	$0	$0	$0
Sue Carlson	Board	1.00	Director	$0	$0	$0
Matt Jackson	Board	1.00	Director	$0	$0	$0
Cindy Carley	Board	1.00	Director	$0	$0	$0
Shirley Lowe	Board	1.00	Director	$0	$0	$0
Marvin Jackson	Board	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$452,846	$284,302	$1,231,122	$168,544
2022	$381,757	$266,346	$1,116,003	$115,411
2021	$249,438	$269,775	$1,082,762	$-20,337
2020	$206,073	$252,026	$1,123,002	$-45,953