DULUTH HARBOR RESCUE MISSION INC (EIN 811924799) - 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

VERONICA CIURLEO

Tax Period

2023-01-01 to 2023-12-31

DULUTH HARBOR RESCUE MISSION INC, founded in 2016, is a small nonprofit in the Housing & Shelter sector that reported $224K in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $247K exceeded revenue, resulting in a 11% operating deficit.

Mission

COMMITTED TO SERVING ALONGSIDE LOCAL CHURCHES AND COMMUNITY, TO RESTORE HOPE FOR THOSE EXPERIENCING HOMELESSNESS AND POVERTY BY MEETING BASIC NEEDS, FOOD, SHELTER, AND CLOTHING AND LONG TERM SPIRTUAL NEEDS THROUGH THE GOSPEL OF JESUS CHRIST.

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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 $223,459

Program Service Revenue $0

Investment Income $241

Other Revenue $0

TOTAL REVENUE $223,700

Expense Breakdown

Grants Paid $0

Salaries & Benefits $74,864

Fundraising Expenses $0

Program Expenses $150,682

Other Expenses $172,494

TOTAL EXPENSES $247,358

Year-over-Year Comparison

	2023	2022	Change
Revenue	$223,700	$176,668	+0.3%
Expenses	$247,358	$148,424	+0.7%
Net Income	$-23,658	$28,244	-1.8%

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

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 CIURLEO	BOARD MEMBER	1.00	Director	$0	$0	$0
ROSE WILSON	BOARD MEMBER	1.00	Director	$0	$0	$0
TERESA HEINZEN	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN CHRISTENSUN	CHAIR	1.00	Officer	$0	$0	$0
VERONICA CIURLEO	SECRETARY	12.00	Officer	$0	$0	$0
VINCENT GANNUCCI	TREASURER	1.00	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	No data	No data	No data	No data
2023	$223,700	$247,358	$75,171	$-23,658

DULUTH HARBOR RESCUE MISSION INC