BUDGIT FOUNDATION INCORPORATED (EIN 824389185) - 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

2021

Legal Domicile

Principal Officer

OLUSEUN ONIGBINDE

Phone

2407843645

Tax Period

2024-01-01 to 2024-12-31

BUDGIT FOUNDATION INCORPORATED, founded in 2021, is a small nonprofit in the Human Services sector that reported $660K in total revenue in fiscal year 2024. Expenses of $753K exceeded revenue, resulting in a 14% operating deficit.

Mission

THE MAIN ACTIVITY OF THE ORGANIZATION WILL BE TO USE CREATIVE TECHNOLOGY TO SIMPLIFY PUBLIC INFORMATION, STIMULATING A COMMUNITY OF ACTIVE CITIZENS AND ENABLING THEIR RIGHT TO DEMAND ACCOUNTABILITY, INSTITUTIONAL REFORMS, EFFICIENT SERVICE DELIVERY AND EQUITABLE SOCIETY. ADDITIONALLY, THE ORGANIZATION WILL OFFER BUDGET ACCESS WITH IMPACT ANALYSIS FOR MARGINALIZED PERSONS, CIVIC TECHNOLOGY, POLICY ANALYSIS, BUDGET SIMPLIFICATION, AND ARTIFICIAL INTELLIGENCE FOR GOOD.

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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 $658,418

Program Service Revenue $0

Investment Income $1,384

Other Revenue $0

TOTAL REVENUE $659,802

Expense Breakdown

Grants Paid $192,450

Salaries & Benefits $382,932

Fundraising Expenses $0

Program Expenses $753,225

Other Expenses $177,843

TOTAL EXPENSES $753,225

Year-over-Year Comparison

	2024	2023	Change
Revenue	$659,802	$627,505	+0.1%
Expenses	$753,225	$329,991	+1.3%
Net Income	$-93,423	$297,514	-1.3%

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

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

$361,409

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
OLUSEUN ONIGBINDE	PRESIDENT/CE	40.00	Officer	$294,072	$0	$294,072
ABIOLA AFOLABI	SEC./INT'L P	40.00	Officer	$67,337	$0	$67,337
FOLASHAYO BABALOLA	TREASURER	10.00	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	$659,802	$753,225	$452,447	$-93,423
2023	$627,505	$329,991	$310,521	$297,514
2022	$312,381	$299,374	$13,007	$13,007

BUDGIT FOUNDATION INCORPORATED