SOLACE CHARITIES 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

2018

Legal Domicile

Principal Officer

Supriya Viswanathan

Phone

8173295010

Tax Period

2024-01-01 to 2024-12-31

SOLACE CHARITIES INC, founded in 2018, is a small nonprofit in the Human Services sector that reported $299K in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $330K exceeded revenue, resulting in a 10% operating deficit.

Mission

During 2024, Solace Charities organized multiple fund raiser events, increased awareness, raised donations and transferred funds to its affiliate Solace.

Program Service Accomplishments

Program 1

Expenses: $298,000 Revenue: $0

Transfers to Solace Kerala, India.

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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 $299,128

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $299,128

Expense Breakdown

Grants Paid $298,000

Salaries & Benefits $0

Fundraising Expenses $31,851

Program Expenses $298,000

Other Expenses $31,851

TOTAL EXPENSES $329,851

Year-over-Year Comparison

	2024	2023	Change
Revenue	$299,128	$223,798	+0.3%
Expenses	$329,851	$163,558	+1.0%
Net Income	$-30,723	$60,240	-1.5%

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

N/A

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
Padmapriya Palottu	Director	1	Director	$0	$0	$0
Remi Ramnadh	Director	1	Director	$0	$0	$0
Sindhu Nair	Director	1	Director	$0	$0	$0
Priya Menon	Director	1	Director	$0	$0	$0
Agnal Kokkatt	Director	1	Director	$0	$0	$0
Dheeraj Prasad	Director	1	Director	$0	$0	$0
Supriya Viswanathan	President	2	Director	$0	$0	$0
Asif Ismail	Director	1	Director	$0	$0	$0
Nirar Kunnath Basheer	Director	1	Director	$0	$0	$0
Roy Jose	Director	1	Director	$0	$0	$0
Santhosh Nair	Director	1	Director	$0	$0	$0
Shibu Baby	Director	1	Director	$0	$0	$0
Gunjan Utreja	Secretary	2	Director	$0	$0	$0
Liju Antony	Treasurer	2	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	$299,128	$329,851	$41,551	$-30,723
2023	$223,798	$163,558	$74,281	$60,240
2022	$212,868	$233,328	$14,041	$-20,460
2021	$161,687	$133,916	$34,501	$27,771
2020	$128,089	$136,111	$6,730	$-8,022
2019	$80,637	$101,618	$14,752	$-20,981
2018	$61,544	$25,811	$35,903	$35,733