THE SECOND STORY FOUNDATION

EIN: 883942345 501(c)(3) Mental Health

CRETE, IL

Total Revenue
$265,869
Total Expenses
$152,520
Total Assets
$509,174
Net Assets
$439,132
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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
2022
Legal Domicile
IL
Principal Officer
JAMES OCONNOR
Phone
7089292978
Tax Period
2024-01-01 to 2024-12-31

THE SECOND STORY FOUNDATION, founded in 2022, is a small nonprofit in the Mental Health sector that reported $266K in total revenue in fiscal year 2024. Revenue fell 34% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $113K, a strong 43% operating margin.

Mission

OFFER MEN WHO HAVE SUCCESSFULLY COMPLETED A RESIDENTIAL TREATMENT PROGRAM TRANSITION TO INDEPENDENT HOUSING.

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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 $183,353
Program Service Revenue $82,516
Investment Income $0
Other Revenue $0
TOTAL REVENUE $265,869

Expense Breakdown

Grants Paid $0
Salaries & Benefits $45,533
Fundraising Expenses $0
Program Expenses $150,780
Other Expenses $106,987
TOTAL EXPENSES $152,520

Year-over-Year Comparison

2024 2023 Change
Revenue $265,869 $401,389 -0.3%
Expenses $152,520 $79,596 +0.9%
Net Income $113,349 $321,793 -0.6%
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
1
Volunteers
25

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
3
$0
Total Directors
3
$0
Key Employees
1
$41,667
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES OCONNOR EXECUTIVE DIRECTOR 43
Key Emp
$41,667 $0 $41,667
BRUCE BERE TREASURER 1
Officer Director
$0 $0 $0
KEN COWAN PRESIDENT 1
Officer
$0 $0 $0
BRIAN BARCLAY SECRETARY 1
Officer Director
$0 $0 $0
CHRIS BURESH DIRECTOR 1
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 $265,869 $152,520 $509,174 $113,349
2023 $401,389 $79,596 $326,748 $321,793
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