PHILMAT INC (EIN 720787616) - 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

1972

Legal Domicile

Principal Officer

CYNTHIA HAYES

Phone

5045233755

Tax Period

2024-07-01 to 2025-06-30

PHILMAT INC, founded in 1972, is a small nonprofit in the Food, Agriculture & Nutrition sector that reported $346K in total revenue in fiscal year 2024. Revenue fell 91% from the prior year — a significant decline worth monitoring. Expenses of $593K exceeded revenue, resulting in a 71% operating deficit.

Mission

TO ACT AS A LOCAL AGENT FOR THE COMMODITY SUPPLEMENTAL FOOD AND WAREHOUSE PROGRAM, FOOD FOR SENIORS.

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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 $475

Program Service Revenue $0

Investment Income $75,429

Other Revenue $270,296

TOTAL REVENUE $346,200

Expense Breakdown

Grants Paid $0

Salaries & Benefits $235,995

Fundraising Expenses $6

Program Expenses $578,221

Other Expenses $357,138

TOTAL EXPENSES $593,133

Year-over-Year Comparison

	2024	2023	Change
Revenue	$346,200	$3,986,210	-0.9%
Expenses	$593,133	$5,195,968	-0.9%
Net Income	$-246,933	$-1,209,758	-0.8%

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

N/A

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

$567,956

Total Directors

$460,878

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SR MARJORIE A HEBERT	PRESIDENT & CEO (THRU 12/2024)	1.00	Officer Director	$0	$163,084	$163,084
CYNTHIA HAYES	PRESIDENT & CEO	1.00	Officer Director	$0	$72	$12,592
DEACON MARTIN GUTIERREZ	DIRECTOR/SECRETARY	1.00	Officer Director	$0	$7,662	$142,566
STACIE BONCK	DIRECTOR/TREASURER	1.00	Officer Director	$0	$17,776	$142,636
RENEE DAVENPORT	EXECUTIVE DIRECTOR	40.00	Officer	$85,502	$21,576	$107,078

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	$346,200	$593,133	$1,398,417	$-246,933
2024	$3,986,210	$5,195,968	$2,474,773	$-1,209,758
2023	$4,296,298	$4,962,698	$3,522,171	$-666,400
2022	$4,783,804	$5,054,577	$3,302,467	$-270,773
2021	$5,046,141	$4,968,194	$3,913,238	$77,947
2020	$4,790,198	$5,178,202	$3,621,042	$-388,004
2019	$4,987,102	$4,857,701	$3,995,188	$129,401
2018	$4,849,413	$4,818,813	$3,844,661	$30,600

PHILMAT INC