LOCKS OF LOVE INC

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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

MADONNA COFFMAN

Phone

5618337332

Tax Period

2024-12-01 to 2025-11-30

LOCKS OF LOVE INC is a small nonprofit in the Health Care sector that reported $487K in total revenue in fiscal year 2024. Revenue fell 69% from the prior year — a significant decline worth monitoring. Expenses of $730K exceeded revenue, resulting in a 50% operating deficit.

Mission

TO PROVIDE CUSTOM MADE HAIR PROSTHETICS TO DISADVANTAGED CHILDREN TO AGE OF TWENTY-ONE, WHO SUFFERED HAIR LOSS AS A RESULT OF VARIOUS MEDICAL CONDITIONS.

Program Service Accomplishments

Program 1

Expenses: $636,282

LOCKS OF LOVE PROVIDED 73 WIGS/HAIRPIECES TO CHILDREN SUFFERING FROM HAIR LOSS. LOCKS OF LOVE CONTINUES THE BLOG AND FACEBOOK PAGE FOR RECIPIENTS AND DONORS, AS WELL AS ITS INSTAGRAM ACCOUNT AND...

LOCKS OF LOVE PROVIDED 73 WIGS/HAIRPIECES TO CHILDREN SUFFERING FROM HAIR LOSS. LOCKS OF LOVE CONTINUES THE BLOG AND FACEBOOK PAGE FOR RECIPIENTS AND DONORS, AS WELL AS ITS INSTAGRAM ACCOUNT AND TWITTER("X") PAGE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $257,679

Program Service Revenue $25,872

Investment Income $197,055

Other Revenue $6,447

TOTAL REVENUE $487,053

Expense Breakdown

Grants Paid $0

Salaries & Benefits $256,248

Fundraising Expenses $12,647

Program Expenses $636,282

Other Expenses $473,947

TOTAL EXPENSES $730,195

Year-over-Year Comparison

	2024	2023	Change
Revenue	$487,053	$1,556,779	-0.7%
Expenses	$730,195	$600,867	+0.2%
Net Income	$-243,142	$955,912	-1.3%

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

128

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MADONNA COFFMAN	PRESIDENT	8.00	Officer Director	$0	$0	$0
GAIL CONIGLIO	DIRECTOR	1.00	Director	$0	$0	$0
LINNETTE MILLER LMHC	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
ALLISON WEBER SHUREN	DIRECTOR	1.00	Director	$0	$0	$0
ABIGAIL WALLER	SECRETARY/TR	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	$487,053	$730,195	$8,541,060	$-243,142
2024	$1,556,779	$600,867	$8,264,376	$955,912
2023	$845,917	$704,419	$7,308,464	$141,498
2023	$845,917	$653,173	$7,359,711	$192,744
2022	$607,539	$593,586	$7,166,966	$13,953
2021	$946,273	$647,975	$7,153,014	$298,298
2020	$512,614	$643,698	$6,278,055	$-131,084
2019	$640,360	$760,864	$6,168,811	$-120,504
2019	$640,360	$760,864	$6,168,811	$-120,504
2018	$513,103	$724,897	$6,046,917	$-211,794