THE SEA GLASS INITIATIVE INC (EIN 932583146) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2023

Legal Domicile

Principal Officer

DAVID T LEE

Phone

6782960178

Tax Period

2024-08-01 to 2025-07-31

THE SEA GLASS INITIATIVE INC, founded in 2023, is a small nonprofit in the Housing & Shelter sector that reported $146K in total revenue in fiscal year 2023. Expenses of $127K left a modest 12% surplus.

Mission

THE SEA GLASS INITIATIVE, INC. (THE ENTITY) IS A NONPROFIT ORGANIZATION DEDICATED TO THE MISSION TO UNITE THE COMMUNITY THROUGH COMPASSION TO END AND PREVENT HOMELESSNESS IN BALDWIN COUNTY. THIS IS ACCOMPLISHED BY OPERATING HIGH-QUALITY PROGRAMS THAT PROVIDE HOPE, STABILITY, AND MOST IMPORTANTLY, EQUAL ACCESS TO HOUSING FOR EVERY INDIVIDUAL.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $182,237

Program Service Revenue $51,115

Investment Income $0

Other Revenue $0

TOTAL REVENUE $233,352

Expense Breakdown

Grants Paid $0

Salaries & Benefits $109,452

Fundraising Expenses $5,514

Program Expenses $138,230

Other Expenses $70,096

TOTAL EXPENSES $179,548

Year-over-Year Comparison

	2024	2023	Change
Revenue	$233,352	$145,606	+0.6%
Expenses	$179,548	$127,471	+0.4%
Net Income	$53,804	$18,135	+2.0%

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

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

$53,308

Total Directors

$53,308

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEIGH MICHELLE HILLMAN	VICE PRESIDE	40.00	Officer Director	$53,308	$0	$53,308
SUE ALFORD	BOARD MEMBER	5.00	Officer Director	$0	$0	$0
RHEA DEVILBISS	BOARD MEMBER	1.00	Director	$0	$0	$0
JIM EVANS	BOARD MEMBER	1.00	Director	$0	$0	$0
BILL LAWRENCE	BOARD MEMBER	1.00	Director	$0	$0	$0
MITCHELL E LEE	PRESIDENT	25.00	Officer Director	$0	$0	$0
PAM MOORE	BOARD MEMBER	1.00	Director	$0	$0	$0
DEAN SERVOS	BOARD MEMBER	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	$233,352	$179,548	$71,939	$53,804
2024	$145,606	$127,471	$20,511	$18,135
2024	$145,606	$127,471	$20,511	$18,135
2024	$145,606	$127,471	$20,511	$18,135

THE SEA GLASS INITIATIVE INC