MY LIFE FOUNDATION 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

2017

Legal Domicile

Principal Officer

CHONG YI

Phone

4103201291

Tax Period

2024-01-01 to 2024-12-31

MY LIFE FOUNDATION INC, founded in 2017, is a small nonprofit in the Mental Health sector that reported $386K in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $361K left a modest 7% surplus.

Mission

COMMUNITY-DRIVEN ORGANIZATION TO PROVIDE BEHAVIORAL HEALTH SERVICES THROUGH PREVENTION EDUCATION, ADVOCACY, HEALTH PROMOTION, PUBLIC AWARENESS PROGRAMS, AND REFERAL SERVICES

Program Service Accomplishments

Program 1

Expenses: $305,550 Revenue: $385,986

MENTAL HEALTH, SUBSTANCE USE DISORDER AND SUICIDE PREVENTION

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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 (2024)

Revenue Breakdown

Contributions & Grants $385,986

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $385,986

Expense Breakdown

Grants Paid $0

Salaries & Benefits $94,262

Fundraising Expenses $9,080

Program Expenses $305,550

Other Expenses $266,511

TOTAL EXPENSES $360,773

Year-over-Year Comparison

	2024	2023	Change
Revenue	$385,986	$357,213	+0.1%
Expenses	$360,773	$360,998	0.0%
Net Income	$25,213	$-3,785	-7.7%

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

$84,352

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHONG YI	PRESIDENT	40.00	Officer	$32,180	$0	$32,180
HYUNCHUL KIM	OFFICE ADMINISTRATOR	40.00	Officer	$10,175	$0	$10,175
STEPHANIE KIM	TREASURER	40.00	Officer	$24,685	$0	$24,685
HEE JUNG LEE	PROGRAM DIRECTOR	40.00	Officer	$17,312	$0	$17,312
DONG SUB JANG	PROGRAM DIRECTOR	40.00	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
2025	No data	No data	No data	No data
2024	$385,986	$360,773	$57,887	$25,213
2023	$357,213	$360,998	$32,674	$-3,785
2022	$255,823	$240,473	$36,459	$15,350
2021	$135,454	$133,388	$21,109	$2,066
2020	$57,192	$67,503	$19,043	$-10,311
2019	$18,937	$21,638	$15,772	$-2,701
2018	$31,137	$28,147	$18,473	$2,990