Options for Independence Inc

EIN: 721208898 501(c)(3) Human Services

Houma, LA

Total Revenue
$-1,656,249
Total Expenses
$1,346,925
Total Assets
$1,832,556
Net Assets
$-23,391
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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
1992
Legal Domicile
LA
Principal Officer
Barry Chauvin
Phone
9858682620
Tax Period
2024-07-01 to 2025-06-30

Options for Independence Inc, founded in 1992, is a micro nonprofit in the Human Services sector that reported $1.7M in total revenue in fiscal year 2024. Revenue fell 197% from the prior year — a significant decline worth monitoring.

Mission

Outreach services in the areas of mental health, housing, employment, substance abuse prevention and treatment, and financial independence.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $367,581
Program Service Revenue $537,968
Investment Income $-2,871,560
Other Revenue $309,762
TOTAL REVENUE $-1,656,249

Expense Breakdown

Grants Paid $26,608
Salaries & Benefits $711,116
Fundraising Expenses $0
Program Expenses $1,005,241
Other Expenses $609,201
TOTAL EXPENSES $1,346,925

Year-over-Year Comparison

2024 2023 Change
Revenue $-1,656,249 $1,705,993 -2.0%
Expenses $1,346,925 $1,354,628 0.0%
Net Income $-3,003,174 $351,365 -9.5%
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

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Governance

Voting Members
3
Independent Members
3
Employees
28
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
3
$0
Total Directors
4
$74,999
Key Employees
2
$74,999
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Rebecca Hoffman-Spears President 1.25
Officer Director Key Emp Highest
$0 $0 $0
Katrina Billiot Secretary 0.25
Officer Director
$0 $0 $0
Amie Bice Treasurer 0.25
Officer Director
$0 $0 $0
Sherl Turner Executive Director 40.00
Director Key Emp
$74,999 $0 $74,999
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 $-1,656,249 $1,346,925 $1,832,556 $-3,003,174
2024 No data No data No data No data
2023 $2,915,431 $1,358,458 $4,610,934 $1,556,973
2022 $2,224,797 $1,472,485 $2,803,789 $752,312
2021 $1,871,784 $1,394,602 $1,542,125 $477,182
2020 $2,263,380 $2,196,311 $1,066,399 $67,069
2019 $2,596,021 $2,506,025 $530,364 $89,996
2019 $2,596,021 $2,506,025 $530,364 $89,996
2018 $2,431,853 $2,604,299 $472,034 $-172,446
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