Passageway Inc (EIN 954118504) - 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

1987

Legal Domicile

Principal Officer

James Goldstein

Phone

8053754950

Tax Period

2023-01-01 to 2023-12-31

Passageway Inc, founded in 1987, is a community nonprofit in the Mental Health sector that reported $1.8M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $1.7M left a modest 7% surplus.

Mission

School - Special Needs Children

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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 $231,506

Program Service Revenue $1,578,892

Investment Income $20,196

Other Revenue $0

TOTAL REVENUE $1,830,594

Expense Breakdown

Grants Paid $0

Salaries & Benefits $957,817

Fundraising Expenses $0

Program Expenses $1,694,537

Other Expenses $736,720

TOTAL EXPENSES $1,694,537

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,830,594	$1,361,464	+0.3%
Expenses	$1,694,537	$1,405,013	+0.2%
Net Income	$136,057	$-43,549	-4.1%

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

N/A

Independent Members

N/A

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

$180,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
James Goldstein	Officer	40.00	Officer	$180,000	$0	$180,000

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	$1,830,594	$1,694,537	$155,559	$136,057
2022	$1,361,464	$1,405,013	$28,457	$-43,549
2021	$1,221,967	$1,295,374	$51,717	$-73,407
2020	$1,245,285	$1,433,355	$209,559	$-188,070
2019	$1,391,249	$1,476,967	$139,683	$-85,718
2018	$1,424,706	$1,460,419	$161,018	$-35,713

Passageway Inc