PROMISE LANDING FARM 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

ROBERT TAISHOFF

Phone

3012492971

Tax Period

2023-01-01 to 2023-12-31

PROMISE LANDING FARM INC, founded in 2018, is a small nonprofit in the Human Services sector that reported $736K in total revenue in fiscal year 2023. Revenue surged 42% from the prior year, signaling strong growth momentum. Expenses of $827K exceeded revenue, resulting in a 12% operating deficit.

Mission

PROMISE LANDING FARM IS A CREATIVE ENGINE FOR INCLUSIVITY, ENGAGING COMMUNITY MEMBERS WITH AND WITHOUT DISABILITIES IN MEANINGFUL INTERACTIONS WITH EACH OTHER AND THEIR EQUINE PARTNERS TO FOSTER A COMMUNITY WHERE EVERYONE IS VALUED AND INCLUDED.

Program Service Accomplishments

Program 1

Expenses: $576,991 Revenue: $213,976

EQUINE-ASSISTED SERVICES - PROMISE LANDING FARM, INC. ("PLF") OFFERS INCLUSIVE AND ADAPTIVE HORSEBACK RIDING, GROUND-BASED HORSEMANSHIP LESSONS, AND OTHER EQUINE-ASSISTED SERVICES FOR INDIVIDUALS...

EQUINE-ASSISTED SERVICES - PROMISE LANDING FARM, INC. ("PLF") OFFERS INCLUSIVE AND ADAPTIVE HORSEBACK RIDING, GROUND-BASED HORSEMANSHIP LESSONS, AND OTHER EQUINE-ASSISTED SERVICES FOR INDIVIDUALS WITH AND WITHOUT DISABILITIES, BUILDING ON AN EDUCATIONAL AND RECREATIONAL FRAMEWORK WITH A FOCUS ON INCLUSION.

Program 2

Expenses: $66,843 Revenue: $46,793

BOARDING - PLF PROVIDES THE DAILY CARE OF HORSES OWNED BY INDIVIDUALS ENGAGING IN PLF'S INCLUSIVE COMMUNITY. THE HORSES ARE BOARDED AT THE UPPER MARLBORO FARM.

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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 $554,775

Program Service Revenue $260,769

Investment Income $0

Other Revenue $-79,523

TOTAL REVENUE $736,021

Expense Breakdown

Grants Paid $0

Salaries & Benefits $512,385

Fundraising Expenses $88,853

Program Expenses $643,834

Other Expenses $314,447

TOTAL EXPENSES $826,832

Year-over-Year Comparison

	2023	2022	Change
Revenue	$736,021	$518,469	+0.4%
Expenses	$826,832	$658,008	+0.3%
Net Income	$-90,811	$-139,539	-0.3%

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

320

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

$509,732

Total Directors

$400,624

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAPT ROBERT TAISHOFF JAGC USN RET	PRESIDENT	10.00	Officer Director	$0	$34,046	$129,046
JAMES O'CONNOR	VICE PRESIDENT	10.00	Officer Director	$0	$0	$60,000
MICHAEL HOWELL	VICE PRESIDENT UNTIL OCTOBER	10.00	Officer Director	$0	$0	$38,870
LYNDA COLBERT	TREASURER	10.00	Officer Director	$0	$5,569	$119,498
KATHRYN TAISHOFF	SECRETARY	10.00	Officer Director	$0	$0	$46,040
SHERRY HOWELL	BOARD MEMBER AS OF NOVEMBER	10.00	Officer Director	$0	$0	$7,170
RACHEL L NEFF	EXECUTIVE DIRECTOR	40.00	Officer	$103,200	$5,908	$109,108

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	$736,021	$826,832	$111,985	$-90,811
2022	$518,469	$658,008	$192,361	$-139,539
2021	$598,983	$456,605	$304,206	$142,378
2020	$363,222	$390,501	$170,282	$-27,279
2019	$306,035	$224,161	$122,347	$81,874