WHITE HORSE MINISTRIES INC

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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

STEVE WOHLBERG

Tax Period

2022-10-01 to 2023-09-30

WHITE HORSE MINISTRIES INC, founded in 2016, is a small nonprofit in the Religion sector that reported $700K in total revenue in fiscal year 2022. Revenue fell 34% from the prior year — a significant decline worth monitoring. Expenses of $849K exceeded revenue, resulting in a 21% operating deficit.

Mission

THROUGH PRINT AND ELECTRONIC MEDIA, SEMINARS, AND TRAINING EVENTS, EQUIP PEOPLE WITH THE KNOWLEDGE OF SALVATION FOUND ONLY IN JESUS CHRIST

Program Service Accomplishments

Program 1

Expenses: $51,120 Revenue: $48,796

PRODUCTION AND DISTRIBUTION OF DVDs, AUDIO CDs, BOOKS, PAMPHLETS, AND

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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 (2022)

Revenue Breakdown

Contributions & Grants $595,222

Program Service Revenue $48,796

Investment Income $1,051

Other Revenue $54,897

TOTAL REVENUE $699,966

Expense Breakdown

Grants Paid $0

Salaries & Benefits $503,973

Fundraising Expenses $0

Program Expenses $51,120

Other Expenses $345,503

TOTAL EXPENSES $849,476

Year-over-Year Comparison

	2022	2021	Change
Revenue	$699,966	$1,064,616	-0.3%
Expenses	$849,476	$795,403	+0.1%
Net Income	$-149,510	$269,213	-1.6%

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

$138,098

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE WOHLBERG	PRESIDENT	40	Officer	$66,208	$0	$66,208
D HENDRICKSON	TREASURER	1	Officer	$2,400	$0	$2,400
PHIL MILLS	DIRECTOR	1	Director	$0	$0	$0
ED REID	DIRECTOR	1	Director	$0	$0	$0
KEVIN BRYANT	DIRECTOR	1	Director	$0	$0	$0
TIM SAXTON	DIRECTOR	1	Director	$0	$0	$0
ANNE SAVINSKY	DIRECTOR	1	Director	$0	$0	$0
TERRY MORELAND	DIRECTOR	1	Director	$0	$0	$0
JAY GALLIMORE	DIRECTOR	1	Director	$0	$0	$0
PAUL SELCHOW	ADMIN DIRECTOR	40	Officer	$69,490	$0	$69,490
NORMAN REITZ	DIRECTOR	1	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	$699,966	$849,476	$666,804	$-149,510
2023	$275,261	$239,182	$735,935	$36,079
2022	$1,064,616	$795,403	$801,526	$269,213
2021	$1,062,896	$917,531	$534,170	$145,365
2020	$708,305	$684,843	$415,869	$23,462
2019	$590,235	$569,592	$348,041	$20,643
2018	$626,957	$704,338	$348,735	$-77,381