PIKESVILLE ARMORY FOUNDATION INC

EIN: 854196251 501(c)(3) Public & Societal Benefit

STEVENSON, MD

Total Revenue
$9,076,838
Total Expenses
$709,849
Total Assets
$9,893,992
Net Assets
$9,702,781
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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
MD
Principal Officer
SHELLEY MORHAIM
Phone
4432533001
Tax Period
2023-01-01 to 2023-12-31

PIKESVILLE ARMORY FOUNDATION INC, founded in 2020, is a community nonprofit in the Public & Societal Benefit sector that reported $9.1M in total revenue in fiscal year 2023. Revenue surged 525% from the prior year, signaling strong growth momentum. The organization ran a surplus of $8.4M, a strong 92% operating margin.

Mission

THE FOUNDATION WAS ESTABLISHED IN DECEMBER 2020 FOR THE FUTURE RENOVATION AND REVITALIZATION OF THE PIKESVILLE, MD ARMORY.

Program Service Accomplishments

Program 1
Expenses: $596,274

ESTABLISHMENT OF ORGANIZATION AND APPLYING FOR PRIVATE AND LOCAL/STATE/FEDERAL GOVERNMENT GRANTS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $9,052,071
Program Service Revenue $0
Investment Income $24,767
Other Revenue $0
TOTAL REVENUE $9,076,838

Expense Breakdown

Grants Paid $0
Salaries & Benefits $130,123
Fundraising Expenses $0
Program Expenses $596,274
Other Expenses $579,726
TOTAL EXPENSES $709,849

Year-over-Year Comparison

2023 2022 Change
Revenue $9,076,838 $1,452,171 +5.3%
Expenses $709,849 $296,206 +1.4%
Net Income $8,366,989 $1,155,965 +6.2%
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

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Governance

Voting Members
14
Independent Members
13
Employees
3
Volunteers
39

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
6
$72,497
Total Directors
14
$72,497
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHELLEY MORHAIM PRESIDENT 5.00
Officer Director
$0 $0 $0
DAVID GINSBURG VP UNTIL 04/23 / ED FROM 4/23 3.00
Officer Director
$71,231 $1,266 $72,497
ISAAC HAMETZ SECRETARY 3.00
Officer Director
$0 $0 $0
JACK GREENBERG TREASURER 3.00
Officer Director
$0 $0 $0
HON CHERYL PASTEUR DIRECTOR 2.00
Director
$0 $0 $0
LISA RADOV DIRECTOR 2.00
Director
$0 $0 $0
BETH RHEINGOLD DIRECTOR 2.00
Director
$0 $0 $0
MAX ROZGA DIRECTOR 2.00
Director
$0 $0 $0
LARRY ROSENBERG DIRECTOR 2.00
Director
$0 $0 $0
DEANE RUNDELL DIRECTOR 2.00
Director
$0 $0 $0
LARRY SCHUGAM DIRECTOR 2.00
Director
$0 $0 $0
BARRY WILLIAMS VICE PRESIDENT AS OF 04/23 2.00
Officer Director
$0 $0 $0
VINCE JORDAN DIRECTOR 2.00
Director
$0 $0 $0
AARON MAX DIRECTOR 2.00
Director
$0 $0 $0
ASHAWNDA FLEMING EXECUTIVE DIRECTOR UNTIL 2/23 20.00
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 No data No data No data No data
2023 $9,076,838 $709,849 $9,893,992 $8,366,989
2022 $1,452,171 $296,206 $1,341,292 $1,155,965
2021 $161,005 $5,380 $179,798 $155,625
2020 $25,000 $827 $24,173 $24,173
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