GOSPEL INC

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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

2011

Legal Domicile

Principal Officer

RAY STEADMAN

Phone

8639404069

Tax Period

2024-01-01 to 2024-12-31

GOSPEL INC, founded in 2011, is a community nonprofit in the Human Services sector that reported $3.6M in total revenue in fiscal year 2024. Revenue surged 247% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.6M, a strong 71% operating margin.

Mission

TO DEVELOP COMMUNITY WITH THE FORMERLY HOMELESS. TO OFFER SERVICES TO THE FORMERLY HOMELESS REGARDLESS OF RACE, ETHNICITY, SOCIOECONOMIC STATUS, OR RELIGIOUS AFFILIATION. TO SHARE THE LOVE OF GOD WITH ALL PEOPLE WE COME INTO CONTACT WITH.

Program Service Accomplishments

Program 1

Expenses: $671,829 Revenue: $148,420

HOUSING ACHIEVEMENTS: SUCCESSFULLY PROVIDED HOUSING FOR 38 PEOPLE IN 33 UNITS. PLANNING TO EXPAND HOUSING WITH THE CONSTRUCTION OF 48 NEW UNITS THIS YEAR. ACHIEVED A 95% RETENTION RATE IN PERMANENT HOUSING. HOLISTIC SUPPORTIVE PROGRAMS:- ART PROGRAMS: OFFERING CREATIVE OUTLETS FOR RESIDENTS TO EXPRESS THEMSELVES AND FIND THERAPEUTIC BENEFITS THROUGH VARIOUS ART FORMS.- COUNSELING SERVICES: PROVIDING COMPREHENSIVE MENTAL HEALTH SUPPORT, INCLUDING INDIVIDUAL AND GROUP COUNSELING, TO HELP RESIDENTS ADDRESS TRAUMA AND IMPROVE THEIR MENTAL WELL-BEING.- COMMUNITY FRIDGE AND PANTRY: ENSURING FOOD SECURITY BY OFFERING ACCESS TO NUTRITIOUS FOOD, ALLOWING RESIDENTS TO FOCUS ON OTHER ASPECTS OF THEIR LIVES WITHOUT THE STRESS OF FOOD INSECURITY.- COMMUNITY DINNERS: FOSTERING A SENSE OF COMMUNITY AND TOGETHERNESS BY ORGANIZING REGULAR DINNERS WHERE RESIDENTS CAN BOND, SHARE EXPERIENCES, AND BUILD SUPPORTIVE RELATIONSHIPS.- VARIOUS COMMUNITY GROUPS: ORGANIZING DIFFERENT GROUPS AND ACTIVITIES SUCH AS SUPPORT GROUPS, EDUCATIONAL WORKSHOPS, AND RECREATIONAL ACTIVITIES TO ENGAGE RESIDENTS AND PROMOTE PERSONAL GROWTH.- HOLISTIC HEALTH AND WELLNESS PROGRAMS: INTEGRATING PHYSICAL HEALTH, MENTAL HEALTH, AND SOCIAL WELL-BEING INITIATIVES TO ENSURE RESIDENTS RECEIVE WELL-ROUNDED SUPPORT. THIS INCLUDES HEALTH EDUCATION, FITNESS ACTIVITIES, AND WELLNESS WORKSHOPS. COMMUNITY INTEGRATION AND DEVELOPMENT: ENCOURAGING RESIDENT PARTICIPATION IN THE DEVELOPMENT AND IMPROVEMENT OF THE COMMUNITY. PROMOTING A SENSE OF OWNERSHIP AND RESPONSIBILITY AMONG RESIDENTS TO CREATE A SUPPORTIVE AND COLLABORATIVE LIVING ENVIRONMENT.

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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 $3,281,960

Program Service Revenue $148,420

Investment Income $176,148

Other Revenue $-2,039

TOTAL REVENUE $3,604,489

Expense Breakdown

Grants Paid $5,650

Salaries & Benefits $608,100

Fundraising Expenses $197,132

Program Expenses $671,829

Other Expenses $434,971

TOTAL EXPENSES $1,048,721

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,604,489	$1,037,457	+2.5%
Expenses	$1,048,721	$865,786	+0.2%
Net Income	$2,555,768	$171,671	+13.9%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

750

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

$196,645

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GREG RICHING	PRESIDENT	5.00	Officer Director	$0	$0	$0
SHAWN JONES	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
DEB FUNKHOUSER	CO-TREASURER	5.00	Officer Director	$0	$0	$0
KATHY RUBO	CO-TREASURER	5.00	Officer Director	$0	$0	$0
CRAIG MOZHDEHI	SECRETARY	5.00	Officer Director	$0	$0	$0
BOB BODOLAY	BOARD MEMBER	2.00	Director	$0	$0	$0
KYLE CLYNE	BOARD MEMBER	2.00	Director	$0	$0	$0
CEDRIC COX	BOARD MEMBER (AS OF 4/2024)	2.00	Director	$0	$0	$0
SCOTT MCBRIDE	BOARD MEMBER	2.00	Director	$0	$0	$0
TERESA MAIO	BOARD MEMBER (AS OF 06/24)	2.00	Director	$0	$0	$0
RACHEL ROSE	TOP FINANCIAL OFFICIAL	40.00	Officer	$63,073	$0	$63,073
RAY STEADMAN	CEO	40.00	Officer	$125,765	$7,807	$133,572

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	$3,604,489	$1,048,721	$7,227,978	$2,555,768
2023	$1,037,457	$865,786	$4,648,925	$171,671
2022	$1,642,762	$1,004,056	$4,482,702	$638,706
2021	$3,693,006	$797,816	$3,917,751	$2,895,190
2020	$519,131	$544,126	$1,010,353	$-24,995
2019	$842,798	$254,384	$1,025,281	$588,414
2018	$327,045	$171,005	$378,094	$156,040