42STRONG

EIN: 874038241 501(c)(3) Youth Development

OXFORD, MI

Total Revenue
$310,346
Total Expenses
$258,237
Total Assets
$1,437,890
Net Assets
$432,612
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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
MI
Principal Officer
JOEL MCCORMICK
Phone
2489963385
Tax Period
2024-01-01 to 2024-12-31

42STRONG, founded in 2021, is a small nonprofit in the Youth Development sector that reported $310K in total revenue in fiscal year 2024. Revenue surged 20% from the prior year, signaling strong growth momentum. The organization ran a surplus of $52K, a strong 17% operating margin.

Mission

TO HELP STUDENTS DEVELOP A GREATER SENSE OF PURPOSE, COMMUNITY & RESILIENCE.

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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 $213,008
Program Service Revenue $0
Investment Income $13,953
Other Revenue $83,385
TOTAL REVENUE $310,346

Expense Breakdown

Grants Paid $2,363
Salaries & Benefits $0
Fundraising Expenses $14,403
Program Expenses $217,221
Other Expenses $255,874
TOTAL EXPENSES $258,237

Year-over-Year Comparison

2024 2023 Change
Revenue $310,346 $258,002 +0.2%
Expenses $258,237 $193,744 +0.3%
Net Income $52,109 $64,258 -0.2%
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
5
Independent Members
5
Employees
N/A
Volunteers
41

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
2
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM BUCK MYRE EXECUTIVE DIRECTOR 15.38
Officer Director
$0 $0 $0
SCOTT CLAXTON DIRECTOR 17.31
Director
$0 $0 $0
TRENT MYRE DIRECTOR 9.23
Director
$0 $0 $0
TY MYRE DIRECTOR 9.23
Director
$0 $0 $0
JOEL MCCORMICK TREASURER 27.69
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
2024 $310,346 $258,237 $1,437,890 $52,109
2023 $258,002 $193,744 $391,554 $64,258
2022 $375,745 $80,929 $332,824 $294,816
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