LOCKS OF LOVE INC (EIN 650755522) - 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

Principal Officer

MADONNA COFFMAN

Phone

5618337332

Tax Period

2023-12-01 to 2024-11-30

LOCKS OF LOVE INC is a community nonprofit in the Health Care sector that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 84% from the prior year, signaling strong growth momentum. The organization ran a surplus of $956K, a strong 61% operating margin.

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.

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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 $252,952

Program Service Revenue $53,049

Investment Income $1,246,853

Other Revenue $3,925

TOTAL REVENUE $1,556,779

Expense Breakdown

Grants Paid $0

Salaries & Benefits $262,534

Fundraising Expenses $8,300

Program Expenses $528,653

Other Expenses $338,333

TOTAL EXPENSES $600,867

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,556,779	$845,917	+0.8%
Expenses	$600,867	$704,419	-0.1%
Net Income	$955,912	$141,498	+5.8%

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

151

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	DIRECTOR	1.00	Director	$0	$0	$0
DAVID WHITE	SECRETARY&TR	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
2024	$1,556,779	$600,867	$8,264,376	$955,912
2023	$845,917	$653,173	$7,359,711	$192,744
2023	$845,917	$704,419	$7,308,464	$141,498
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

LOCKS OF LOVE INC