PROMISE LANDING FARM INC

EIN: 831049305 501(c)(3) Human Services

UPPER MARLBORO, MD

Total Revenue
$736,021
Total Expenses
$826,832
Total Assets
$111,985
Net Assets
$51,033
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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
MD
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

TO PROVIDE AN INCLUSIVE RIDING EXPERIENCE BY OFFERING INTEGRATED THERAPEUTIC EQUESTRIAN SERVICES TO ALL MEMBERS OF THE COMMUNITY. DEDICATED TO DELIVERING INNOVATIVE AND CREATIVE APPROACHES TO FOSTER MEANINGFUL INTERACTIONS BETWEEN SPECIAL NEEDS RIDERS AND EQUESTRIANS.

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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%)

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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

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Governance

Voting Members
5
Independent Members
1
Employees
18
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
7
$509,732
Total Directors
6
$400,624
Key Employees
0
$0
Highest Compensated
0
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
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