New Beginning for Special Needs Inc (EIN 812550940) - 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

Haejoong Chang

Phone

2013284566

Tax Period

2023-01-01 to 2023-12-31

New Beginning for Special Needs Inc, founded in 2016, is a small nonprofit that reported $508K in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. The organization ran a surplus of $92K, a strong 18% operating margin.

Mission

Organization provides special-needs individuals with services and tools that can promote independence while creating stronger ties to our communities.

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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 $57,390

Program Service Revenue $450,591

Investment Income $2

Other Revenue $0

TOTAL REVENUE $507,983

Expense Breakdown

Grants Paid $0

Salaries & Benefits $182,828

Fundraising Expenses $0

Program Expenses $400,220

Other Expenses $232,831

TOTAL EXPENSES $415,659

Year-over-Year Comparison

	2023	2022	Change
Revenue	$507,983	$361,719	+0.4%
Expenses	$415,659	$333,696	+0.2%
Net Income	$92,324	$28,023	+2.3%

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

N/A

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
Haejoong Chang	President	25.00	Officer Director	$0	$0	$0
Yong Kim	Trustee	0.00	Director	$0	$0	$0
Ahjn Lee	Secretary	5.00	Officer Director	$0	$0	$0
James Lee	Trustee	0.00	Director	$0	$0	$0
Julia Park	Director	30.00	Officer Director	$0	$0	$0
Sang-joon Kim	Trustee	0.00	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	$507,983	$415,659	$345,675	$92,324
2022	$361,719	$333,696	$68,711	$28,023
2021	$135,683	$137,820	$33,840	$-2,137
2020	$15,247	$5,747	$31,230	$9,500
2019	$22,983	$26,999	$21,730	$-4,016
2018	$20,228	$23,709	$25,838	$-3,481

New Beginning for Special Needs Inc