TAX & LEGAL SERVICE INC

EIN: 874055605 501(c)(3) Public & Societal Benefit

GAITHERBURG, MD

Total Revenue
$100,000
Total Expenses
$58,486
Total Assets
$34,442
Net Assets
$34,442
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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
ARVIND SHARMA
Phone
2402773141
Tax Period
2023-01-01 to 2023-12-31

TAX & LEGAL SERVICE INC, founded in 2020, is a small nonprofit in the Public & Societal Benefit sector that reported $100K in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $42K, a strong 42% operating margin.

Mission

PRVIDE TAX PREPARATION AND LEGAL HELP TO INDIVIDUAL LOW INCOME GROUP

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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 $100,000
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $100,000

Expense Breakdown

Grants Paid $0
Salaries & Benefits $55,978
Fundraising Expenses $0
Other Expenses $2,508
TOTAL EXPENSES $58,486

Year-over-Year Comparison

2023 2022 Change
Revenue $100,000 $76,000 +0.3%
Expenses $58,486 $83,072 -0.3%
Net Income $41,514 $-7,072 -6.9%
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
1
Independent Members
1
Employees
1
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
1
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ARVIND SHARMA PRESIDENT 008.00
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
2023 $100,000 $58,486 $34,442 $41,514
2022 $76,000 $83,072 $24,928 $-7,072
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