Passageway Scholarship Foundation

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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

2002

Legal Domicile

Principal Officer

Carolyn Jenkins-Bower

Phone

7753923686

Tax Period

2024-01-01 to 2024-12-31

Passageway Scholarship Foundation, founded in 2002, is a small nonprofit in the Education sector that reported $191K in total revenue in fiscal year 2024. Revenue surged 214% from the prior year, signaling strong growth momentum. The organization ran a surplus of $158K, a strong 83% operating margin.

Mission

To help provide at risk youth who have the desire to succeed the means to do so through educational and vocational scholarships

Program Service Accomplishments

Program 1

Expenses: $27,046 Revenue: $190,512

Awarded scholarships to individuals 28

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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 $134,878

Program Service Revenue $0

Investment Income $55,635

Other Revenue $0

TOTAL REVENUE $190,513

Expense Breakdown

Grants Paid $27,046

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $27,046

Other Expenses $5,813

TOTAL EXPENSES $32,859

Year-over-Year Comparison

	2024	2023	Change
Revenue	$190,513	$60,690	+2.1%
Expenses	$32,859	$30,939	+0.1%
Net Income	$157,654	$29,751	+4.3%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Debra McBride	President	2.00	Officer Director	$0	$0	$0
Suzanne Smith	Secretary	4.00	Officer Director	$0	$0	$0
Carolyn Jenkins-Bower	Treasurer	3.00	Officer Director	$0	$0	$0
Lisa Broman	Director	2.00	Director	$0	$0	$0
Vicky Sauer-Lamb	Director	1.00	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	No data	No data	No data	No data
2024	$190,513	$32,859	$1,089,379	$157,654
2023	$60,690	$30,939	$931,727	$29,751
2022	$124,434	$36,342	$901,976	$88,092
2020	$143,569	$41,164	$840,733	$102,405