SON SET MINISTRIES INC (EIN 710885915) - 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

2001

Legal Domicile

Principal Officer

ERIC MORPHIS

Phone

2525313214

Tax Period

2023-01-01 to 2023-12-31

SON SET MINISTRIES INC, founded in 2001, is a small nonprofit in the Religion sector that reported $965K in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $293K, a strong 30% operating margin.

Mission

TO PROMOTE RELIGIOUS EDUCATION AMONG THE YOUTH & THE APPLICATION OF THESE TEACHINGS AS AN ALTERNATIVE TO VIOLENCE & ISOLATION.

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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 $473,280

Program Service Revenue $461,874

Investment Income $18,114

Other Revenue $11,309

TOTAL REVENUE $964,577

Expense Breakdown

Grants Paid $0

Salaries & Benefits $381,358

Fundraising Expenses $27,813

Program Expenses $472,652

Other Expenses $289,886

TOTAL EXPENSES $671,244

Year-over-Year Comparison

	2023	2022	Change
Revenue	$964,577	$793,179	+0.2%
Expenses	$671,244	$592,266	+0.1%
Net Income	$293,333	$200,913	+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

N/A

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
MIKE ADKINS	BOARD MEMBER	1.00	Director	$0	$0	$0
PAUL AYCOCK	BOARD MEMBER	1.00	Director	$0	$0	$0
ANNA WINN BEAMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
DWAYNE BENFIELD	BOARD MEMBER	1.00	Director	$0	$0	$0
KENT HENDERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
ELY PERRY III	BOARD MEMBER	1.00	Director	$0	$0	$0
DANNY JACKSON	BOARD MEMBER	1.00	Director	$0	$0	$0
ERIC MORPHIS	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
JUSTIN MULARKEY	BOARD MEMBER	1.00	Director	$0	$0	$0
LARKEYSHA SHEPERD	BOARD MEMBER	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
2024	No data	No data	No data	No data
2023	$964,577	$671,244	$2,114,725	$293,333
2022	$793,179	$592,266	$1,819,384	$200,913
2021	$945,879	$470,450	$1,617,137	$475,429
2020	$576,781	$423,133	$1,142,522	$153,648

SON SET MINISTRIES INC