Way Forward Taxi Alliance Inc

EIN: 862061594

Andover, MA

Total Revenue
$323,649
Total Expenses
$331,001
Total Assets
$71,725
Net Assets
$71,725
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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
2021
Legal Domicile
MA
Principal Officer
Linda Garofalo
Phone
6172856698
Tax Period
2024-02-01 to 2025-01-31

Way Forward Taxi Alliance Inc, founded in 2021, is a small nonprofit that reported $324K in total revenue in fiscal year 2024. Revenue surged 49% from the prior year, signaling strong growth momentum.

Mission

To advance the taxi industry by promoting high standards of service,technological innovation, and climate friendly operations.

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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 (2024)

Revenue Breakdown

Contributions & Grants $317,750
Program Service Revenue $0
Investment Income $5,899
Other Revenue $0
TOTAL REVENUE $323,649

Expense Breakdown

Grants Paid $40,120
Salaries & Benefits $117,800
Fundraising Expenses $0
Other Expenses $173,081
TOTAL EXPENSES $331,001

Year-over-Year Comparison

2024 2023 Change
Revenue $323,649 $216,499 +0.5%
Expenses $331,001 $143,580 +1.3%
Net Income $-7,352 $72,919 -1.1%
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
5
Independent Members
5
Employees
N/A
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
5
$83,800
Total Directors
5
$83,800
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Linda Garofalo Pres. & Director 0.00
Officer Director
$83,800 $0 $83,800
Yekuno Kidanemariam Vice Pres. & Director 0.00
Officer Director
$0 $0 $0
Rahim Abasi Treasurer & Director 0.00
Officer Director
$0 $0 $0
Steven Goldberg Clerk & Director 0.00
Officer Director
$0 $0 $0
Balwinder Gill Vice Pres. & Director 0.00
Officer 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
2025 $323,649 $331,001 $71,725 $-7,352
2024 $216,499 $143,580 $82,075 $72,919
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