Last Chance Recovery Center

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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

1987

Legal Domicile

Principal Officer

Brian Cosgrove

Phone

2814633430

Tax Period

2023-01-01 to 2023-12-31

Last Chance Recovery Center, founded in 1987, is a small nonprofit in the Mental Health sector that reported $266K in total revenue in fiscal year 2023. Revenue surged 98% from the prior year, signaling strong growth momentum. Expenses of $246K left a modest 7% surplus.

Mission

The relief of distressed people who are victims of chemical abuse, research into drug dependence and the providing of a safe recovery.

Program Service Accomplishments

Program 1

Expenses: $229,427 Revenue: $211,034

The relief of distressed people who are victims of chemical abuse, reserach into drug dependence and the providing of a safe recovery.

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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 $100

Program Service Revenue $219,193

Investment Income $36,567

Other Revenue $10,444

TOTAL REVENUE $266,304

Expense Breakdown

Grants Paid $0

Salaries & Benefits $48,567

Fundraising Expenses $0

Program Expenses $229,427

Other Expenses $197,924

TOTAL EXPENSES $246,491

Year-over-Year Comparison

	2023	2022	Change
Revenue	$266,304	$134,515	+1.0%
Expenses	$246,491	$197,423	+0.2%
Net Income	$19,813	$-62,908	-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

N/A

Volunteers

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
Randall Watson	President	5.00	Officer Director	$0	$0	$0
Dennis Gallagher	Vice President	1.00	Officer Director	$0	$0	$0
Michael Rhoten	Acting Secretary	5.00	Officer Director	$0	$0	$0
Dudley Farenthold	Director	1.00	Director	$0	$0	$0
Brian Cosgrove	Executive Director	20.00	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	No data	No data	No data	No data
2023	$266,304	$246,491	$1,734,003	$19,813
2019	$158,551	$218,492	$1,683,506	$-59,941
2018	$219,622	$301,140	$1,743,447	$-81,518