PROJECT LIGHT OF MANATEE INC (EIN 650490652) - 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

1994

Legal Domicile

Principal Officer

Elena Farkas

Phone

9417451659

Tax Period

2025-01-01 to 2025-12-31

PROJECT LIGHT OF MANATEE INC, founded in 1994, is a small nonprofit in the Education sector that reported $308K in total revenue in fiscal year 2025. Revenue decreased 17% compared to the prior year. Expenses of $395K exceeded revenue, resulting in a 28% operating deficit.

Mission

TEACH ENGLISH TO ADULTS SPEAKERS OF OTHER LANGUAGES; THE PRIMARY SERVICE AREA IS MANATEE COUNTY 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 (2025)

Revenue Breakdown

Contributions & Grants $243,421

Program Service Revenue $62,475

Investment Income $2,016

Other Revenue $0

TOTAL REVENUE $307,912

Expense Breakdown

Grants Paid $0

Salaries & Benefits $237,688

Fundraising Expenses $55,993

Program Expenses $242,434

Other Expenses $157,006

TOTAL EXPENSES $394,694

Year-over-Year Comparison

	2025	2024	Change
Revenue	$307,912	$373,007	-0.2%
Expenses	$394,694	$356,124	+0.1%
Net Income	$-86,782	$16,883	-6.1%

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

$93,000

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Yilmaz	President	1.00	Officer Director	$0	$0	$0
Pamela Steen	Vice President	1.00	Officer Director	$0	$0	$0
Cihan Cobanoglu	Board member	1.00	Officer Director	$0	$0	$0
Elena Farkas	Executive Director	40.00	Key Emp Highest	$93,000	$0	$93,000
Ann Griffin	Founder Board member	1.00	Officer Director	$0	$0	$0
Charles Cunningham	Emeriti	1.00	Officer Director	$0	$0	$0
Robert Downie	Board Member	1.00	Officer Director	$0	$0	$0
Carol Parker	Board Secretary	1.00	Officer Director	$0	$0	$0
Solomon Wang	Board Member	1.00	Officer 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	$307,912	$394,694	$389,623	$-86,782
2024	$373,007	$356,124	$477,066	$16,883
2023	$501,317	$280,685	$484,788	$220,632
2022	$223,638	$183,949	$281,496	$39,689
2021	$174,323	$177,910	$390,362	$-3,587
2021	$174,323	$177,910	$390,362	$-3,587
2020	$218,474	$113,042	$312,969	$105,432

PROJECT LIGHT OF MANATEE INC