PIKESVILLE ARMORY FOUNDATION INC (EIN 854196251) - Form 990 Financial Analysis & Trantor Score

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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

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

RESTORATION AND REVITALIZATION OF THE HISTORIC PIKESVILLE, MARYLAND ARMORY FACILITIES.THE CORPORATION WAS ORGANIZED IN DECEMBER 2020 TO TAKE AN ACTIVE ROLE IN THE ACQUISITION, RENOVATION AND FUTURE OPERATION OF THE HISTORIC FORMER PIKESVILLE, MARYLAND ARMORY FACILITIES.

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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 $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

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

$72,497

Total Directors

$72,497

Key Employees

Highest Compensated

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

PIKESVILLE ARMORY FOUNDATION INC