HEALING TOWERS INC (EIN 810704176) - 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

2016

Legal Domicile

Principal Officer

THOMAS MORFIT

Phone

4844311894

Tax Period

2023-01-01 to 2023-12-31

HEALING TOWERS INC, founded in 2016, is a small nonprofit in the Religion sector that reported $102K in total revenue in fiscal year 2023. Revenue fell 50% from the prior year — a significant decline worth monitoring. Expenses of $193K exceeded revenue, resulting in a 89% operating deficit.

Mission

PROVIDES RECREATIONAL THERAPY AND MENTORSHIP TO DISABLED VETERANS

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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 $102,058

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $102,058

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $169,568

Other Expenses $192,540

TOTAL EXPENSES $192,540

Year-over-Year Comparison

	2023	2022	Change
Revenue	$102,058	$202,775	-0.5%
Expenses	$192,540	$211,801	-0.1%
Net Income	$-90,482	$-9,026	+9.0%

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
Thomas Morfit	Chairman/Founder	10	Officer Director	$0	$0	$0
Gene Dufrene	Director	5.00	Director	$0	$0	$0
Harry Yates	Treasurer	5.00	Officer Director	$0	$0	$0
Clay Brooker	Director	5.00	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	$102,058	$192,540	$73,004	$-90,482
2022	$202,775	$211,801	$168,475	$-9,026
2021	$204,744	$129,395	$177,803	$75,349
2020	$224,858	$133,142	$96,039	$91,716
2019	$181,904	$180,972	$11,547	$932
2018	$228,715	$133,233	$186,415	$95,482
2018	$78,732	$126,398	$43,188	$-47,666

HEALING TOWERS INC