PALISADES CHURCH A NJ NONPROFIT COR

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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

CHANG SUNG LEE

Phone

9175833775

Tax Period

2023-01-01 to 2023-12-31

PALISADES CHURCH A NJ NONPROFIT COR, founded in 2019, is a small nonprofit in the Religion sector that reported $146K in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. The organization ran a surplus of $43K, a strong 30% operating margin.

Mission

1)TO ESTABLISH AND MAINTAIN A TEMPLE FOR RELIGIOUS WORSHIP AND PRAYER IN ACCORDANCE WITH THE CUSTOMS AND PRINCIPLES OF CHRISTIANITY. 2)TO CONDUCT AND MAINTAIN SERVICES FOR DIVINE WORSHIP AND RELIGIOUS OBSERVANCE IN ACCORDANCE WITH THE CUSTOMS AND PRINCIPLE OF THE CHRISTIAN RELIGION. 3)TO PROVIDE RELIGIOUS TEACHING FOR CHILDREN 4)TO REACH YOUNG PEOPLE, AND NEEDY PERSONS WITH SPRIRITUAL NEEDS 5)TO VISIT WITH AND TEND TO THE SICK AND INFIRM MEMBERS OF THE CONGREGATION, AND THEIR FAMILES AND FRIENDS.

Program Service Accomplishments

Program 1

Expenses: $30,225

WORSHIP AND SUPPORT FOR WORSHIP RELATED ACTIVITES.

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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 $145,140

Program Service Revenue $0

Investment Income $1,165

Other Revenue $0

TOTAL REVENUE $146,305

Expense Breakdown

Grants Paid $0

Salaries & Benefits $47,383

Fundraising Expenses $0

Program Expenses $30,225

Other Expenses $55,675

TOTAL EXPENSES $103,058

Year-over-Year Comparison

	2023	2022	Change
Revenue	$146,305	$163,828	-0.1%
Expenses	$103,058	$88,391	+0.2%
Net Income	$43,247	$75,437	-0.4%

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

$40,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHANG SUNG LEE	PRESIDENT	40.00	Officer	$40,000	$0	$40,000
JONG JEUNG	SECRETARY	10.00	Director	$0	$0	$0
ROBERT HWANG	TREASURER	10.00	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
2023	$146,305	$103,058	$304,498	$43,247
2022	$163,828	$88,391	$259,269	$75,437