FRIENDS OF THE GLOUCESTER COUNCIL ON AGING INC (EIN 043037299) - 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

1988

Legal Domicile

Principal Officer

HOWARD FRISCH

Phone

9782812639

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF THE GLOUCESTER COUNCIL ON AGING INC, founded in 1988, is a micro nonprofit that reported $23K in total revenue in fiscal year 2023. Revenue fell 60% from the prior year — a significant decline worth monitoring. Expenses of $162K exceeded revenue, resulting in a 618% operating deficit.

Mission

TO PROVIDE FINANCIAL ASSISTANCE TO THE GLOUCESTER COUNCIL ON AGING AND PROVIDING SOCIAL SERVICES TO ELDERLY RESIDENTS OF GLOUCESTER AND TO AUGMENT THE PROGRAMS AT THE ROSE BAKER SENIOR CENTER.

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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 $22,288

Program Service Revenue $0

Investment Income $244

Other Revenue $0

TOTAL REVENUE $22,532

Expense Breakdown

Grants Paid $82,950

Salaries & Benefits $0

Fundraising Expenses $2,079

Program Expenses $150,263

Other Expenses $78,915

TOTAL EXPENSES $161,865

Year-over-Year Comparison

	2023	2022	Change
Revenue	$22,532	$55,702	-0.6%
Expenses	$161,865	$43,916	+2.7%
Net Income	$-139,333	$11,786	-12.8%

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

Independent Members

Employees

N/A

Volunteers

240

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
HOWARD M FRISCH	PRESIDENT	1.00	Officer	$0	$0	$0
FRANK BELLINI	TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT RYAN	SECRETARY	1.00	Officer	$0	$0	$0
CARLA GRILLO	DIRECTOR	0.25	Director	$0	$0	$0
LUCIA SHEEHAN	DIRECTOR	0.25	Director	$0	$0	$0
CINDY BELLINI	DIRECTOR	0.25	Director	$0	$0	$0
RICHARD CURRAN	DIRECTOR	0.25	Director	$0	$0	$0
FRANK STEWART	DIRECTOR	0.25	Director	$0	$0	$0
LEANN KENNEDY	DIRECTOR	0.25	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
2023	$22,532	$161,865	No data	$-139,333
2022	$55,702	$43,916	$139,333	$11,786
2021	$27,804	$29,229	$127,548	$-1,425
2020	$31,827	$62,654	$128,973	$-30,827
2019	$90,213	$74,631	$159,798	$15,582
2018	$94,154	$74,128	$144,214	$20,026

FRIENDS OF THE GLOUCESTER COUNCIL ON AGING INC