SK THERAPY ASSOCIATES 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

CHRIS TRUELOVE

Phone

4233055485

Tax Period

2025-01-01 to 2025-12-31

SK THERAPY ASSOCIATES INC, founded in 2020, is a small nonprofit in the Health Care sector that reported $456K in total revenue in fiscal year 2025. Revenue surged 4222% from the prior year, signaling strong growth momentum. Expenses of $695K exceeded revenue, resulting in a 52% operating deficit.

Mission

TO PROVIDE THERAPEUTIC REHABILITATION TO CHILDREN WITH SPECIAL NEEDS.

Program Service Accomplishments

Program 1

Expenses: $695,306 Revenue: $22,641

TO PROVIDE THERAPEUTIC REHABILITATION SERVICES, INCLUDING OCCUPATIONAL, PHYSICAL, FEEDING, AND SPEECH THERAPIES, TO CHILDREN WITH SPECIAL HEALTHCARE NEEDS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $432,103

Program Service Revenue $22,641

Investment Income $1,500

Other Revenue $0

TOTAL REVENUE $456,244

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $695,306

Other Expenses $695,306

TOTAL EXPENSES $695,306

Year-over-Year Comparison

	2025	2024	Change
Revenue	$456,244	$10,557	+42.2%
Expenses	$695,306	$235,294	+2.0%
Net Income	$-239,062	$-224,737	+0.1%

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

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

$147,262

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS TRUELOVE	EXECUTIVE DI	10.00	Officer	$0	$23,983	$147,262
AJ GOODWIN	PRESIDENT	1.00	Officer Director	$0	$0	$0
CARRIE GOODWIN	TREASURER	1.00	Officer Director	$0	$0	$0
MACK BARRETT	SECRETARY	1.00	Officer Director	$0	$0	$0
ELIZABETH SMITH	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
2025	$456,244	$695,306	$594,063	$-239,062
2024	$10,557	$235,294	$431,058	$-224,737
2023	$757,971	$120,007	$637,964	$637,964