PROMOSTANDARDS INC (EIN 832319420) - 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

2018

Legal Domicile

Principal Officer

PHILIP GERGEN

Phone

6102500862

Tax Period

2023-01-01 to 2023-12-31

PROMOSTANDARDS INC, founded in 2018, is a small nonprofit in the Community Improvement sector that reported $391K in total revenue in fiscal year 2023. Revenue surged 54% from the prior year, signaling strong growth momentum.

Mission

SEE ATTACHED STATEMENT. THE PROMOTIONAL PRODUCTS INDUSTRY IS IN THE BUSINESS OF CUSTOMIZING TANGIBLE PRODUCTS AND RELATED SERVICES. THE LOGISTICS OF RESEARCHING, PROCURING, PRODUCING, AND DELIVERING PROMOTIONAL PRODUCTS IS COMPLEX, LABORIOUS, AND ERROR-PRONE. UNLIKE OTHER INDUSTRIES, INDUSTRY STANDARDS ASSOCIATED WITH BUSINESS COMMERCE DO NOT READILY APPLY AND AS A RESULT ARE NOT READILY ADOPTED NOR IMPLEMENTED AMONG TRADING PARTNERS WITHIN THE INDUSTRY. IN RESPONSE FOR THE NEED FOR BUSINESS COMMERCE INTEGRATION STANDARDS FOR BOTH COMPETITIVE AND EFFICIENCY REASONS, PROMOSTANDARDS WAS FOUNDED. PROMOSTANDARDS WAS STARTED BY LEADING SUPPLIERS, DISTRIBUTORS, AND SERVICE PROVIDERS DOING BUSINESS IN THE NORTH AMERICAN PROMOTIONAL PRODUCTS INDUSTRY WITH THE EXPRESS GOAL OF COLLABORATING ON THE DEVELOPMENT OF INDUSTRY ELECTRONIC INTEROPERABILITY STANDARDS. THE ORGANIZATION IS COMPOSED OF MEMBERS, APPROVED BY THE PROMOSTANDARDS BOARD, TO CONTRIBUTE TO THE CREATION AND MANAGEMENT OF STANDARDS THROUGH THE PROMOSTANDARDS STANDARDS COMMITTEE, WHICH IS COMPOSED OF INDIVIDUALS OF MEMBER ORGANIZATIONS. THE BOARD DIRECTS THE STANDARDS COMMITTEE TO CREATE STANDARDS BASED ON IDENTIFIED INDUSTRY NEEDS AND REQUIREMENTS, WHICH IN TURN DEFINES THE SPECIFICATIONS, PROCESSES, AND DATA REQUIRED FOR A GIVEN INTEGRATION STANDARD. A PRIVATE DRAFT OF A PROPOSED STANDARD IS DISTRIBUTED AMONG ADOPTING MEMBERS AND IMPLEMENTED AS A PROOF OF CONCEPT. ONCE PROVEN AND REVISED AS NECESSARY, THE DRAFT IS RELEASED AS A BETA VERSION OF THE STANDARD TO THE MEMBERSHIP COMMUNITY. IF AND ONCE A STANDARD IS APPROVED BY THE STANDARDS COMMITTEE, THE COMMITTEE PRESENTS IT TO THE BOARD FOR RATIFICATION AND ADOPTION. RATIFIED STANDARDS ARE LICENSED AND PUBLISHED. ONCE RATIFIED, A STANDARD IS PUBLICLY DISSEMINATED FOR ANYONE TO FREELY UTILIZE REGARDLESS OF MEMBERSHIP STATUS.

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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 $391,281

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $391,281

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $424,904

TOTAL EXPENSES $424,904

Year-over-Year Comparison

	2023	2022	Change
Revenue	$391,281	$253,729	+0.5%
Expenses	$424,904	$120,490	+2.5%
Net Income	$-33,623	$133,239	-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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC S ALESSI	IMMEDIATE PA	N/A	Director	$0	$0	$0
DANIEL BECKER	BOARD MEMBER	N/A	Director	$0	$0	$0
DUSTIN DOWNING	BOARD MEMBER	N/A	Director	$0	$0	$0
IRWIN GOLDSTEIN	BORAD MEMBER	N/A	Director	$0	$0	$0
ERICA GRIFFITT	BOARD MEMBER	N/A	Director	$0	$0	$0
MICHAEL DYLAN KNAPICK	BOARD MEMBER	N/A	Director	$0	$0	$0
JONATHAN O NORRIS	BOARD MEMBER	N/A	Director	$0	$0	$0
STEVEN STANLEY	BOARD MEMBER	N/A	Director	$0	$0	$0
EDWARD STREIFF	BOARD MEMBER	N/A	Director	$0	$0	$0
PHILIP GERGEN	TREASURER	N/A	Officer	$0	$0	$0
CATHERINE GRAHAM	CHAIR	N/A	Officer	$0	$0	$0
AMY RABIDEAU	VICE CHAIR	N/A	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	No data	No data	No data	No data
2023	$391,281	$424,904	$277,408	$-33,623
2022	$253,729	$120,490	$296,893	$133,239

PROMOSTANDARDS INC