613 ABBOTT CORPORATION

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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

NICOLE NEAL GOODSON

Phone

3139675555

Tax Period

2019-10-01 to 2020-09-30

613 ABBOTT CORPORATION, founded in 2016, is a small nonprofit that reported $326K in total revenue in fiscal year 2019. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $1.4M exceeded revenue, resulting in a 331% operating deficit.

Mission

TO PROVIDE FACILITIES, SERVICES, AND SUPPORT TO THE SOUTHEASTERN MICHIGAN ADMINISTRATIVE SERVICES GROUP, A MICHIGAN NON-PROFIT CORPORATION OPERATING AS AN EXEMPT ORGANIZATION UNDER INTERNAL REVENUE CODE SECTION 501C 3 AND 509 a 1, AND TO MANAGE ALL PROPERTIES

Program Service Accomplishments

Program 1

Expenses: $1,403,374

613 ABBOTT CORPORATION PROVIDES FACILITIES, SERVICES, AND SUPPORT TO THE SOUTHEASTERN MICHIGAN ADMINISTRATIVE SERVICES GROUP AND MANAGES ALL PROPERTIES LOCATED AT 613 ABBOTT STREET AND 1240 THIRD...

613 ABBOTT CORPORATION PROVIDES FACILITIES, SERVICES, AND SUPPORT TO THE SOUTHEASTERN MICHIGAN ADMINISTRATIVE SERVICES GROUP AND MANAGES ALL PROPERTIES LOCATED AT 613 ABBOTT STREET AND 1240 THIRD STREET IN DETROIT, MICHIGAN.

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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 (2019)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $0

Other Revenue $325,898

TOTAL REVENUE $325,898

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,403,374

Other Expenses $1,403,374

TOTAL EXPENSES $1,403,374

Year-over-Year Comparison

	2019	2018	Change
Revenue	$325,898	$596,229	-0.5%
Expenses	$1,403,374	$676,818	+1.1%
Net Income	$-1,077,476	$-80,589	+12.4%

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

N/A

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
J SHERMAN LARKINS	CHAIRPERSON	001.00	Officer Director	$0	$0	$0
ARTHUR DUDLEY II	VICE CHAIRPERSON	001.00	Officer Director	$0	$0	$0
ROGER SHORT	TREASURER	001.00	Officer Director	$0	$0	$0
KAREN CHADWICK	SECRETARY	001.00	Officer 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
2020	$325,898	$1,403,374	No data	$-1,077,476
2019	$596,229	$676,818	$1,365,633	$-80,589
2018	$1,066,603	$1,422,070	$6,508,875	$-355,467