QUALITY INDEPENDENCE 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

2019

Legal Domicile

Principal Officer

ANGELA PENNINGTON

Phone

9414579171

Tax Period

2024-01-01 to 2024-12-31

QUALITY INDEPENDENCE INC, founded in 2019, is a small nonprofit in the Medical Research sector that reported $932K in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year.

Mission

PROVIDE ADULT DAY TRAINING FOR THE DEVELOPMENTALLY CHALLENGED

Program Service Accomplishments

Program 1

Expenses: $910,120 Revenue: $931,634

THE ORGANIZATION PROVIDED TRAINING, REHABILITION AND INDEPENDANT LIVING SOLUTIONS TO QUALIFIED DISABLED RESIDENTS OF CHARLOTTE COUNTY

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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 $371

Program Service Revenue $931,634

Investment Income $0

Other Revenue $0

TOTAL REVENUE $932,005

Expense Breakdown

Grants Paid $0

Salaries & Benefits $356,130

Fundraising Expenses $0

Program Expenses $910,120

Other Expenses $600,767

TOTAL EXPENSES $956,897

Year-over-Year Comparison

	2024	2023	Change
Revenue	$932,005	$1,019,070	-0.1%
Expenses	$956,897	$1,085,229	-0.1%
Net Income	$-24,892	$-66,159	-0.6%

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

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
DIANNE DULICK	DIRECTOR	40.00	Director	$0	$0	$0
DONALD HAM	DIRECTOR	10.00	Director	$0	$0	$0
SUSAN BROOKS	DIRECTOR	10.00	Director	$0	$0	$0
ANGELA PENNINGTON	PRESIDENT	40.00	Officer Key Emp	$0	$0	$0
GEORGIA TUCKER	VICE PRESIDENT	40.00	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	$932,005	$956,897	$38,214	$-24,892
2023	$1,019,070	$1,085,229	$82,571	$-66,159
2022	$745,902	$650,807	$166,809	$95,095
2021	$646,678	$634,425	$87,284	$12,253
2020	$715,690	$728,497	$58,244	$-12,807
2019	$530,450	$504,527	$57,888	$25,923
2019	$530,450	$504,527	$57,888	$25,923