FAITH HOUSE 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

KIT MUI FLORENCE NG

Phone

8457319607

Tax Period

2023-01-01 to 2023-12-31

FAITH HOUSE INC, founded in 2019, is a small nonprofit in the Religion sector that reported $130K in total revenue in fiscal year 2023. Revenue surged 89% from the prior year, signaling strong growth momentum.

Mission

TO WITNESS THAT THE LORD JESUS CHRIST IS GOD INCARNATE, AND TO SEEK TO LEAD OTHERS TO PERSONAL FAITH IN CHRIST AS LORD AND SAVIOR. THIS GOAL SHALL BE ACCOMPLISHED THROUGH MUSIC, ARTS, MULTIMEDIA, PERSONAL COMMUNICATIONS, AND SHARING OF GOD'S WORDS.

Program Service Accomplishments

Program 1

Expenses: $127,254

FAITH HOUSE INC LAUNCHED ITS FIRST LIVE STREAMING CHRISTIAN MUSIC PROGRAM VIA FACEBOOK AND YOUTUBE IN SEPTEMBER 2021. FAITH HOUSE INC CONTINUED ITS FREE MONTHLY LIVE STREAMING YOUTUBE PROGRAM ON THE LAST FRIDAY OF EVERY MONTH DURING 2023. THERE HAS BEEN A STEADY INCREASE OF VIEWERS AND THE VIEWERSHIP COVERAGE EXPANDED FROM THE US TO OTHER NORTH AMERICAN AND ASIAN COUNTRIES. BEYOND LIVE STREAMING PROGRAMS, DURING 2023, THE STAFF OF FAITH HOUSE INC ALSO REACHED OUT A RELIGIOUS WORSHIP/RETREAT AT PHOENIX ARIZONA, PARTICIPATED AT VARIOUS MUSIC SHARINGS AND WORSHIP SERVICE AT A NEW JERSEY CHURCH, CONDUCTED MUSIC MINISTRY AUDIO & VIDEO TRAINING FOR OTHER MINISTRIES IN NEW YORK CITY, SHARED ITS MUSIC AND GOD'S MESSAGE AT A CONFERENCE IN TORONTO, AND ENGAGED FREQUENTLY IN SPREADING GOD'S WORDS AND MESSAGES WITH LOCAL CHURCH COMMUNITIES IN QUEENS AND BROOKLYN.

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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 $129,669

Program Service Revenue $0

Investment Income $308

Other Revenue $0

TOTAL REVENUE $129,977

Expense Breakdown

Grants Paid $300

Salaries & Benefits $103,924

Fundraising Expenses $0

Program Expenses $127,254

Other Expenses $24,351

TOTAL EXPENSES $128,575

Year-over-Year Comparison

	2023	2022	Change
Revenue	$129,977	$68,858	+0.9%
Expenses	$128,575	$62,234	+1.1%
Net Income	$1,402	$6,624	-0.8%

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

$40,000

Total Directors