The Ward 8 Community Benevolence F… - Form 990 Financial Data

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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

Principal Officer

Jeffrey Storms

Tax Period

2022-01-01 to 2022-12-31

The Ward 8 Community Benevolence Fund, founded in 2022, is a small nonprofit that reported $500K in total revenue in fiscal year 2022. The organization ran a surplus of $495K, a strong 99% operating margin.

Mission

As part of the Settlement regarding George Floyds death, the Fund received $500,000.00 from the City of Minneapolis to make grants primarily to businesses, community organizations, and 501(c)(3) organizations near where Mr. Floyd was murdered.

Program Service Accomplishments

Program 1

The Fund was fully financed at the end of 2022. Therefore, the grant writing process did not commence until 2022 and occurred in 2023.

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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 (2022)

Revenue Breakdown

Contributions & Grants $500,000

Program Service Revenue $0

Investment Income $1

Other Revenue $0

TOTAL REVENUE $500,001

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $4,754

TOTAL EXPENSES $4,754

Year-over-Year Comparison

	2022	2021	Change
Revenue	$500,001	N/A	N/A
Expenses	$4,754	N/A	N/A
Net Income	$495,247	N/A	N/A

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Lisa Brabbit	Board Member	1.00	Director	$0	$0	$0
Ben Crump	Board Member	1.00	Director	$0	$0	$0
Uzodima Frank Aba-Onu	Board Member	1.00	Director	$0	$0	$0
Scott Redd	Board Member	1.00	Director	$0	$0	$0
Roxie Washington	Board Member	1.00	Director	$0	$0	$0
Terrence Floyd	Vice-President	1.00	Officer Director	$0	$0	$0
Jeffrey Storms	President	1.00	Officer Director	$0	$0	$0
Uzoma Obasi	Treasurer	1.00	Officer Director	$0	$0	$0
Jennifer McGuffin	Secretary	1.00	Officer 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
2022	$500,001	$4,754	$495,247	$495,247

The Ward 8 Community Benevolence Fund