FRIENDLY HOUSE INC

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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

1936

Legal Domicile

Principal Officer

ANTHONY PAYNE

Phone

5087554362

Tax Period

2024-07-01 to 2025-06-30

FRIENDLY HOUSE INC, founded in 1936, is a community nonprofit in the Human Services sector that reported $9.8M in total revenue in fiscal year 2024.

Mission

FOR THE EDUCATIONAL, SOCIAL AND FAMILY BETTERMENT OF RESIDENTS OF THE CITY OF WORCESTER. FRIENDLY HOUSE WORKS WITH THE ENTIRE FAMILIES BOTH NUCLEAR AND EXTENDED, AS AN INTEGRATING FORCE FOR THE FAMILIES AND THE NEIGHBORHOODS IT SERVES. FRIENDLY HOUSE PROVIDES A CONTINUUM OF COMPREHENSIVE COORDINATED NEIGHBORHOOD BASIC SERVICES TO INNER-CITY FAMILIES.

Program Service Accomplishments

Program 1

Expenses: $5,857,073 Revenue: $6,848,936

SHELTER PROGRAM: PROVIDES EMERGENCY HOUSING FOR ELIGIBLE PARTICIPANTS.

Program 2

Expenses: $621,341 Revenue: $701,813

CHILD FEEDING: PROGRAM TO PROVIDE MEALS TO ELIGIBLE CHILDREN.

Program 3

Expenses: $1,324,024 Revenue: $819,488

PERSONAL DEVELOPMENT: SOCIAL AND RECREATIONAL PROGRAMS FOR ELIGIBLE PARTICIPANTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,015,441

Program Service Revenue $8,650,577

Investment Income $88,326

Other Revenue $12,902

TOTAL REVENUE $9,767,246

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,892,994

Fundraising Expenses $108,165

Program Expenses $8,327,617

Other Expenses $5,761,616

TOTAL EXPENSES $9,654,610

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,767,246	$10,242,378	0.0%
Expenses	$9,654,610	$8,976,185	+0.1%
Net Income	$112,636	$1,266,193	-0.9%

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

112

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

$369,938

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES CARNEY	TREASURER	1.00	Officer Director	$0	$0	$0
ELIZABETH YOUNG	PRESIDENT	1.00	Officer Director	$0	$0	$0
EMILY PERLOW	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ALEX GUARDIOLA	DIRECTOR	1.00	Director	$0	$0	$0
KRISTEN BILLIAR	IHN ADVISORY BOARD REPRESE	1.00	Director	$0	$0	$0
MARK CHISTOLINI	DIRECTOR	1.00	Director	$0	$0	$0
ANYELINY LAMPTEY	DIRECTOR	1.00	Director	$0	$0	$0
CHERYL MULBAH	DIRECTOR	1.00	Director	$0	$0	$0
MADELINE MORENO	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS TONEY	DIRECTOR	1.00	Director	$0	$0	$0
PHIL GIARUSSO	DIRECTOR	1.00	Director	$0	$0	$0
PAUL LAVALLEE	DIRECTOR	1.00	Director	$0	$0	$0
TRISH APPERT	EXECUTIVE DIRECTOR	40.00	Officer	$150,131	$15,052	$165,183
JERRY SCHLATER	ASSISTANT EXECUTIVE DIRECT	30.00	Officer	$61,430	$0	$61,430
ANTHONY PAYNE	CFO	30.00	Officer	$142,764	$561	$143,325

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	$9,767,246	$9,654,610	$5,631,225	$112,636
2024	$10,242,378	$8,976,185	$5,513,811	$1,266,193
2023	$8,120,195	$7,320,143	$4,181,126	$800,052
2022	$6,043,839	$6,006,534	$3,296,125	$37,305
2021	$7,006,456	$5,906,093	$3,370,400	$1,100,363
2020	$5,390,938	$5,152,880	$2,822,280	$238,058
2019	$4,958,018	$4,975,232	$2,144,781	$-17,214