EQUIPNET (EIN 943359561) - Form 990 Financial Analysis & Trantor Score

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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

2000

Legal Domicile

Principal Officer

ROBERT NORSWORTHY

Phone

9254784320

Tax Period

2023-01-01 to 2023-12-31

EQUIPNET, founded in 2000, is a mid-sized nonprofit in the Religion sector that reported $10.8M in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum.

Mission

Equipnet emerges out of a unique community of individuals that are committed to using their giftedness, resources and relationships as instruments for bringing hope and dignity to people in need.

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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 (2023)

Revenue Breakdown

Contributions & Grants $10,769,569

Program Service Revenue $0

Investment Income $4

Other Revenue $0

TOTAL REVENUE $10,769,573

Expense Breakdown

Grants Paid $9,802,119

Salaries & Benefits $447,770

Fundraising Expenses $49,500

Program Expenses $10,386,504

Other Expenses $377,086

TOTAL EXPENSES $10,626,975

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,769,573	$7,861,147	+0.4%
Expenses	$10,626,975	$7,752,039	+0.4%
Net Income	$142,598	$109,108	+0.3%

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

$403,000

Total Directors

$447,770

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELBERT PAUL	Secretary	2.00	Officer Director	$108,676	$95,000	$203,676
ROBERT NORSWORTHY	President & CEO	40.00	Officer Director	$64,999	$134,325	$199,324
THEL ROUNDTREE	Board Member	1.00	Director	$44,770	$0	$44,770
GREGORY STEELE	Treasurer	1.00	Officer Director	$0	$0	$0
STEVE JUSTICE	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
2024	No data	No data	No data	No data
2023	$10,769,573	$10,626,975	$1,068,248	$142,598
2022	$7,861,147	$7,752,039	$1,148,288	$109,108
2021	$6,154,256	$5,798,155	$871,313	$356,101
2020	$4,147,907	$4,155,891	$359,057	$-7,984
2019	$3,002,371	$2,998,486	$346,208	$3,885
2018	$2,359,698	$2,290,906	$342,182	$68,792
2017	$1,987,743	$1,847,727	$273,390	$140,016

EQUIPNET