Washington Prayer Coalition

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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

Principal Officer

Seung Ug Jeong

Phone

7038440355

Tax Period

2024-01-01 to 2024-12-31

Washington Prayer Coalition, founded in 2021, is a micro nonprofit in the Religion sector that reported $93K in total revenue in fiscal year 2024. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $108K exceeded revenue, resulting in a 17% operating deficit.

Mission

to spread the gospel to the world by planting and serving churches, training local Christian leaders and to transform the world through prayer,

Program Service Accomplishments

Program 1

Expenses: $55,117 Revenue: $91,974

To fulfill the organizations mission of transforming the world through prayer and equipping Christian leaders, we held regular prayer gatherings and intercessory meetings to foster spiritual growth. Additionally, significant resources were dedicated to the planning and pre-development phase of a new Retreat Center. This facility is being established to serve as a hub for planting churches, training local Christian leaders, and conducting educational programs. Through these initiatives, we aim to equip future leaders to reach their communities and spread the gospel effectively

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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 (2024)

Revenue Breakdown

Contributions & Grants $91,974

Program Service Revenue $0

Investment Income $869

Other Revenue $0

TOTAL REVENUE $92,843

Expense Breakdown

Grants Paid $200

Salaries & Benefits $9,648

Fundraising Expenses $0

Program Expenses $55,117

Other Expenses $97,560

TOTAL EXPENSES $108,308

Year-over-Year Comparison

	2024	2023	Change
Revenue	$92,843	$135,487	-0.3%
Expenses	$108,308	N/A	N/A
Net Income	$-15,465	$135,487	-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

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

$9,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
Sang Woo Han	Director	Officer	$9,000	$0	$9,000
Seung Ug Jeong	Secretary	Officer	$0	$0	$0
Justin Song	President	Officer	$0	$0	$0
Peter Cho	Treasurer	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	$92,843	$108,308	$120,111	$-15,465