PHILIPPINE INDEPENDENCE DAY COUNCI… - 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

2002

Legal Domicile

Principal Officer

JOVEL GOLINGAN

Phone

2127320055

Tax Period

2023-10-01 to 2024-09-30

PHILIPPINE INDEPENDENCE DAY COUNCIL INC, founded in 2002, is a small nonprofit in the Human Services sector that reported $210K in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. Expenses of $191K left a modest 9% surplus.

Mission

THE PHILIPPINE INDEPENDENCE DAY COUNCIL, INC. (PIDCI) IS AN UMBRELLA ORGANIZATION OF FILIPINO AMERICAN ASSOCIATIONNS BASED ON THE EAST COAST. IT IS PRINCIPALLY DEDICATED TO PROMOTING HISTORY, THE CULTURAL HERITAGE AND TRADITIONS OF THE FILIPINO PEOPLE THROUGH THE ANNUAL CELEBRATION OF PHILIPPINE INDEPENDENCE DAY.

Program Service Accomplishments

Program 1

Expenses: $176,199 Revenue: $114,819

PIDCI WITH ITS MEMBER ORGANIZATIONS HAVE PLANNED, DESIGNED AND PREPARED FOR THE 126TH COMMEMORATION OF PHILIPPINE INDEPENDENCE DAY ON JUNE 2, 2024. THE CELEBRATION IS A WHOLE DAY EVENT FEATURING A...

PIDCI WITH ITS MEMBER ORGANIZATIONS HAVE PLANNED, DESIGNED AND PREPARED FOR THE 126TH COMMEMORATION OF PHILIPPINE INDEPENDENCE DAY ON JUNE 2, 2024. THE CELEBRATION IS A WHOLE DAY EVENT FEATURING A GRAND PARADE DOWN MADISON AVENUE IN NEW YORK CITY PARTICIPATED BY 135 FLOATS,ORGANIZATIONS, AND MARCHING BANDS WITH ESTIMATED PARTICIPANTS AND SPECTATORS OF OVER 100,0000. THE GRAND PARADE SHOWCASED THE COLORFUL CULTURE OF VARIOUS PROVINCES AND REGIONS OF THE PHILIPPINES. THE PARADE WAS FOLLOWED BY A CULTURAL SHOW FEATURING LOCAL AND ARTISTS FROM THE PHILIPPINES WHO PERFORMED POPULAR MUSIC AND DANCES. THE STREET FAIR FEATURED PHILIPPINE PRODUCTS AND CUISINE. THE CELEBRATION WAS SHOWN LIVE VIA PIDCI OFFICIAL FACEBOOK LIVE AND YOUTUBE CHANNEL VIEWED BY THOUSANDS OF VIEWERS WORLDWIDE.

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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 $61,500

Program Service Revenue $103,352

Investment Income $0

Other Revenue $45,410

TOTAL REVENUE $210,262

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $176,199

Other Expenses $190,536

TOTAL EXPENSES $190,536

Year-over-Year Comparison

	2023	2022	Change
Revenue	$210,262	$247,626	-0.2%
Expenses	$190,536	$240,876	-0.2%
Net Income	$19,726	$6,750	+1.9%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ARMAN DAVID	PRESIDENT	5.00	Officer Director	$0	$0	$0
LEA FRAIN	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
JOYCE ANDES	SECRETARY	5.00	Officer Director	$0	$0	$0
JOVEL GOLINGAN	TREASURER	5.00	Officer Director	$0	$0	$0
MARIANO AQUINO	DIRECTOR	2.00	Director	$0	$0	$0
BETTY CORRALES	DIRECTOR	2.00	Director	$0	$0	$0
CZARMEL LOPEZ	DIRECTOR	2.00	Director	$0	$0	$0
SOL KAPUNAN	DIRECTOR	2.00	Director	$0	$0	$0
DORA KOLTSIDIS	DIRECTOR	2.00	Director	$0	$0	$0
MARIA VILLASIN NUCUM	DIRECTOR	2.00	Director	$0	$0	$0
ARNEL PIAMONTE	DIRECTOR	2.00	Director	$0	$0	$0
AIDA TAGLE	DIRECTOR	2.00	Director	$0	$0	$0
PAUL VERSOZA	DIRECTOR	2.00	Director	$0	$0	$0
RICO VIRAY	DIRECTOR	2.00	Director	$0	$0	$0
LEONORA GALLEROS	EXECUTIVE DI	5.00	Officer Director	$0	$0	$0
ATTY MANUEL B QUINTAL	GENERAL COUN	2.00	Officer	$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	$210,262	$190,536	$63,755	$19,726
2023	$247,626	$240,876	$69,314	$6,750
2022	$160,461	$158,032	$40,730	$2,429
2021	$22,166	$19,598	$36,671	$2,568
2020	$23,465	$10,558	$44,103	$12,907
2019	$145,392	$144,224	$29,580	$1,168

PHILIPPINE INDEPENDENCE DAY COUNCIL INC