#2ND CHANCE PROJECT

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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

CARLTON JESSUP

Phone

6122232282

Tax Period

2024-01-01 to 2024-12-31

#2ND CHANCE PROJECT, founded in 2020, is a small nonprofit in the Housing & Shelter sector that reported $357K in total revenue in fiscal year 2024.

Mission

TO ASSIST INDIVIDUALS AND FAMILIES WITH A HISTORY OF JUSTICE INVOLVEMENT, SUBSTANCE USE DISORDER, OR MENTAL ILLNESS LIVE SUCCESSFULLY IN THEIR COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $81,151 Revenue: $141,614

2NDCHANCEPROJECT ADMINISTERS THE STATE OPIOID RESPONSE GRANT, ENABLING US TO OFFER COMPREHENSIVE CASE MANAGEMENT AND HOUSING TRANSITION SUPPORT FOR INDIVIDUALS EMERGING FROM INCARCERATION OR...

2NDCHANCEPROJECT ADMINISTERS THE STATE OPIOID RESPONSE GRANT, ENABLING US TO OFFER COMPREHENSIVE CASE MANAGEMENT AND HOUSING TRANSITION SUPPORT FOR INDIVIDUALS EMERGING FROM INCARCERATION OR TREATMENT. THIS PROGRAM IS SPECIFICALLY TAILORED FOR RESOURCES TO FACILITATE THEIR REINTEGRATION INTO SOCIETY. BY ADDRESSING BOTH HOUSING AND RECOVERY NEEDS, WE CREATE A STABLE FOUNDATION FOR PARTICIPANTS TO REBUILD THEIR LIVES. OUR SUPPORT EXTENDS BEYOND HOUSING, ENCOMPASSING PERSONALIZED CASE MANAGEMENT TO ENSURE LONG-TERM SUCCESS. THROUGH THESE EFFORTS, 2NDCHANCEPROJECT STRIVES TO MAKE A SIGNIFICANT IMPLANT ON THE LIVES OF INDIVIDUALS AFFECTED BY OPIOID/STIMULANT USE DISORDER.

Program 2

Expenses: $110,768 Revenue: $80,033

TRANSITION TO A RECOVERY RESIDENCE MODEL: IN A MAJOR PROGRAMMATIC SHIFT, WE TRANSITIONED FROM USING MASTER LEASES TO ESTABLISHING A RECOVERY RESIDENCE. THIS MODEL NOT ONLY IMPROVES LODGING STABILITY BUT ALSO INTEGRATES ACCESS TO A CERTIFIED PEER RECOVERY SPECIALIST. AS A RESULT, PARTICIPANTS CAN NOW RECEIVE BOTH LODGING AND CONSISTENT, PROFESSIONAL RECOVERY SUPPORT, WHICH HAS LED TO IMPROVED ENGAGEMENT AND OUTCOMES.

Program 3

Expenses: $131,903 Revenue: $135,175

IMPLEMENTATION OF A NEW CHARTING AND BILLING SYSTEM: TO ENHANCE SERVICE DELIVERY AND STREAMLINE ADMINISTRATIVE PROCESSES, WE IDENTIFIED AND IMPLEMENTED A NEW CHARTING AND BILLING PLATFORM. THIS...

IMPLEMENTATION OF A NEW CHARTING AND BILLING SYSTEM: TO ENHANCE SERVICE DELIVERY AND STREAMLINE ADMINISTRATIVE PROCESSES, WE IDENTIFIED AND IMPLEMENTED A NEW CHARTING AND BILLING PLATFORM. THIS SYSTEM HAS SIGNIFICANTLY IMPROVED OUR ABILITY TO TRACK CLIENT PROGRESS, DOCUMENT SERVICES ACCURATELY, AND ASSIST WITH TIMELY REIMBURSEMENT. IT REPRESENTS A MAJOR STEP FORWARD IN IMPROVING BOTH EFFICIENCY AND ACCOUNTABILITY. ENSURE LONG-TERM SUCCESS. THROUGH THESE EFFORTS, 2NDCHANCEPROJECT STRIVES TO MAKE A SIGNIFICANT IMPACT ON THE LIVES OF INDIVIDUALS AFFECTED BY OPIOID/STIMULANT USE DISORDER.

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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 $221,599

Program Service Revenue $135,223

Investment Income $0

Other Revenue $0

TOTAL REVENUE $356,822

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,422

Fundraising Expenses $0

Program Expenses $323,822

Other Expenses $365,497

TOTAL EXPENSES $376,919

Year-over-Year Comparison

	2024	2023	Change
Revenue	$356,822	$362,311	0.0%
Expenses	$376,919	$381,735	0.0%
Net Income	$-20,097	$-19,424	+0.0%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TAYLOR THREATT	SECRETARY	2.00	Director	$0	$0	$0
WILLIAM BAKER	BOARD MEMBER	2.00	Director	$0	$0	$0
NATHAN PINGY	VICE PRESIDENT	2.00	Director	$0	$0	$0
JON SHERROD	PRESIDENT	5.00	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
2024	$356,822	$376,919	$5,796	$-20,097
2023	$362,311	$381,735	$20,248	$-19,424
2022	$375,369	$363,689	$39,672	$11,680
2021	$495,751	$762,541	No data	$-266,790
2020	$1,069,003	$789,242	$279,760	$279,761