CASTLE ISLAND ASSOCIATION

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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

1975

Legal Domicile

Principal Officer

JOHN HAUGH

Phone

6178335615

Tax Period

2023-11-01 to 2024-10-31

CASTLE ISLAND ASSOCIATION, founded in 1975, is a small nonprofit that reported $148K in total revenue in fiscal year 2023. Revenue surged 463% from the prior year, signaling strong growth momentum.

Mission

TO ASSIST IN MAINTAINING FORT INDEPENDENCE ON CASTLE ISLAND. DURING THE SUMMER MONTHS, TOURS OF THE FORT ARE OFFERED WHICH SHARE THE FORTS HISTORY. THE ASSOCIATION IS MADE UP ENTIRELY OF VOLUNTEERS.

Program Service Accomplishments

Program 1

Expenses: $842 Revenue: $619

PURCHASE FLAGS FOR DISPLAY AT THE FORT DURING TOURS. FLAGS DISPLAYED INCLUDE ALL FIFTY STATES AND TERRITORIES, EACH BRANCH OF THE ARMED FORCES AND REPLICAS OF FLAGS USED DURING THE REVOLUTIONARY WAR

Program 2

Expenses: $10,868 Revenue: $0

PRINTING OF THE NEWSLETTER MAILED TO MEMBERS OF THE ASSOCIATION. IT INCLUDES UPDATES OF ACTIVITIES, TRIPS AND PROGRAMS TAKING PLACE AT THE FORT FOR OUR MEMBERSHIP. IT ALSO PROVIDES A SYNOPSIS OF THE ASSOCIATONS MONTHLY MEETINGS FOR THOSE NOT IN ATTENDANCE. THE NEWSLETTER IS PUBLISHED ON A QUARTERLY BASIS

Program 3

Expenses: $133,034 Revenue: $0

ALL OTHER EVENTS INCLUDING MEMBER TRIPS

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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 $144,148

Program Service Revenue $0

Investment Income $117

Other Revenue $4,019

TOTAL REVENUE $148,284

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $144,744

Other Expenses $149,641

TOTAL EXPENSES $149,641

Year-over-Year Comparison

	2023	2022	Change
Revenue	$148,284	$26,342	+4.6%
Expenses	$149,641	$33,715	+3.4%
Net Income	$-1,357	$-7,373	-0.8%

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

100

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
WILLIAM P SPAIN	PRESIDENT	30.00	Director	$0	$0	$0
PATRICIA REID	VICE PRESIDENT	8.00	Director	$0	$0	$0
JOHN HAUGH	TREASURER	8.00	Director	$0	$0	$0
THOMAS HALE	HISTORIAN	8.00	Director	$0	$0	$0
KIM STAFFIER	CORRESPONDING SECRETARY	8.00	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	$148,284	$149,641	$110,259	$-1,357
2023	$26,342	$33,715	$95,295	$-7,373
2022	$17,896	$46,333	$104,750	$-28,437
2021	$24,762	$27,267	$140,386	$-2,505