Solace Friends 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

2020

Legal Domicile

Principal Officer

Ed Hughes

Phone

6082166610

Tax Period

2023-01-01 to 2023-12-31

Solace Friends Inc, founded in 2020, is a small nonprofit in the Human Services sector that reported $646K in total revenue in fiscal year 2023. Revenue surged 179% from the prior year, signaling strong growth momentum. The organization ran a surplus of $487K, a strong 75% operating margin.

Mission

Provide a place of compassionate, safe, comfortable presence and caregiving to our community's most vulnerable people as they prepare for the end of their lives.

Program Service Accomplishments

Program 1

Expenses: $98,821

SOLACE FINANCED AND PURCHASED A HOME WHERE SOLACE'S GUESTS WILL BE ABLE TO LIVE OUT THEIR FINAL DAYS AND RECEIVE HOSPICE SERVICES BEGAN THE PROCESS OF RENOVATING THE HOME TO SUIT SOLACE'S NEEDS...

SOLACE FINANCED AND PURCHASED A HOME WHERE SOLACE'S GUESTS WILL BE ABLE TO LIVE OUT THEIR FINAL DAYS AND RECEIVE HOSPICE SERVICES BEGAN THE PROCESS OF RENOVATING THE HOME TO SUIT SOLACE'S NEEDS, HIRED ITS FIRST EMPLOYEE, A FULL-TIME EXECUTIVE DIRECTOR CONTINUED FUNDRAISING WORKED ON DEVELOPING ORGANIZATIONAL POLICIES AND PROCEDURES AND CONTINUED TO BUILD PUBLIC AWARENESS OF ITS MISSION

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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 $644,620

Program Service Revenue $0

Investment Income $1,714

Other Revenue $0

TOTAL REVENUE $646,334

Expense Breakdown

Grants Paid $0

Salaries & Benefits $57,674

Fundraising Expenses $22,038

Program Expenses $98,821

Other Expenses $101,853

TOTAL EXPENSES $159,527

Year-over-Year Comparison

	2023	2022	Change
Revenue	$646,334	$231,533	+1.8%
Expenses	$159,527	$96,287	+0.7%
Net Income	$486,807	$135,246	+2.6%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kendra Deja	Executive Director	40.00		$12,515	$0	$12,515
Ann Catlett	President	10.00	Officer Director	$0	$0	$0
Ed Hughes	Treasurer	5.00	Officer Director	$0	$0	$0
Katherine Kamp	President	10.00	Officer Director	$0	$0	$0
Joan Karan	Director	10.00	Director	$0	$0	$0
Karen Reppen-thru July 2023	Director	10.00	Director	$0	$0	$0
Rebecka Crandall-thru Sept 2023	Director	3.00	Director	$0	$0	$0
Laura Rose- begin Sept 2023	Director	3.00	Director	$0	$0	$0
Maya Holtzman	Director	3.00	Director	$0	$0	$0
Latasha Robinson - begin Nov 2023	Director	3.00	Director	$0	$0	$0
Lisa Berry - begin Oct 2023	Director	3.00	Director	$0	$0	$0
Jane Corkery - begin Sept 2023	Director	3.00	Director	$0	$0	$0
Lisa Cappelli - Begin Sept 2023	Director	3.00	Director	$0	$0	$0
MARCUS PEARSON- Thru Aug 2023	Director	1.00	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	No data	No data	No data	No data
2023	$646,334	$159,527	$1,233,069	$486,807
2022	$231,533	$96,287	$704,532	$135,246