MIDFIELD INSTITUTE OF COSMETOLOGY (EIN 800205752) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Principal Officer

LILA WILLIAMS

Phone

2059257600

Tax Period

2024-01-01 to 2024-12-31

MIDFIELD INSTITUTE OF COSMETOLOGY, founded in 2008, is a small nonprofit in the Education sector that reported $353K in total revenue in fiscal year 2019. Revenue surged 100% from the prior year, signaling strong growth momentum. Expenses of $337K left a modest 5% surplus.

Mission

TO PREPARE STUDENTS TO TAKE AND PASS THE ALABAMA STATE BOARD OF COSMETOLOGY EXAMINATION IN THEIR CHOSEN CURRICULUM AREA WITH A FOCUS ON ENTERPRENEURSHIP AND TEACHING STUDENTS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $98,380

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $98,380

Expense Breakdown

Grants Paid $0

Salaries & Benefits $60,706

Fundraising Expenses $0

Program Expenses $152,252

Other Expenses $148,193

TOTAL EXPENSES $208,899

Year-over-Year Comparison

	2024	2023	Change
Revenue	$98,380	$161,867	-0.4%
Expenses	$208,899	$361,476	-0.4%
Net Income	$-110,519	$-199,609	-0.4%

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
ANNETA NUNN	SECRETARY	001.00	Officer	$0	$0	$0
JAMES WILLIAMS	BOARD MEMBER	001.00	Officer	$0	$0	$0
LUCTTA FORD	VICE PRESIDENT	001.00	Officer	$0	$0	$0
VERONICA BLANTON	TREASURER	001.00	Officer	$0	$0	$0
LILA WILLIAMS	PRESIDENT/EXECUTIVE DIRECTOR	025.00	Officer	$0	$0	$0
KIM MCFARLAND	BOARD MEMBER	001.00	Officer	$0	$0	$0
DAVID STEPHENS	BOARD MEMBER	001.00	Officer	$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	$98,380	$208,899	$21,829	$-110,519
2023	$161,867	$361,476	$146,831	$-199,609
2022	$426,567	$310,640	$367,739	$115,927
2021	$464,865	$391,431	$233,311	$73,434
2020	$430,542	$347,084	$168,983	$83,458
2019	$353,199	$337,202	$95,825	$15,997

MIDFIELD INSTITUTE OF COSMETOLOGY