FRIENDSHIPWORKS 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

1991

Legal Domicile

Principal Officer

KYLE ROBIDOUX

Phone

6174821510

Tax Period

2024-07-01 to 2025-06-30

FRIENDSHIPWORKS INC, founded in 1991, is a community nonprofit in the Religion sector that reported $1.5M in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $1.7M exceeded revenue, resulting in a 13% operating deficit.

Mission

SEE FORM 990, PART 1, LINE 1 FOR MISSION STATEMENT

Program Service Accomplishments

Program 1

Expenses: $500,158

FRIENDSHIPWORKS SIGNATURE FRIENDLY VISITING PROGRAM MAKES INFORMAL, LONG-LASTING FRIENDSHIP MATCHES BETWEEN ISOLATED ELDERS AND COMMUNITY VOLUNTEERS, REWARDING TO BOTH. MATCHES SHARE EXPERIENCES AND FAVORITE ACTIVITIES, AND RECOGNIZE ONE ANOTHER'S INDIVIDUALITY AND PASSIONS. MANY CALL ON FRIENDSHIPWORKS BECAUSE THEY ARE WITHOUT FAMILY AND FRIENDS. WITH AGE, A LACK OF FRIENDSHIP CAN BECOME AN OBSTACLE TO INDEPENDENCE. FRIENDSHIPWORKS VOLUNTEERS ALSO DESIRE TO GIVE BACK THROUGH CONNECTION. THROUGH INFORMAL FRIENDSHIP MATCHES, FRIENDSHIPWORKS IS BREATHING LIFE INTO A LOST TRADITION OF NEIGHBORS HELPING NEIGHBORS.

Program 2

Expenses: $163,688

MUSICWORKS IS A PROGRAM THAT REDUCES ISOLATION AMONG FRAIL AND/OR ISOLATED ELDERS THROUGH THE SHARED EXPERIENCE OF MUSIC. PARTICIPANTS INTERACT WITH THE MUSIC, SINGING, PLAYING INSTRUMENTS, DANCING, AND OF COURSE, LISTENING. MUSICWORKS BRINGS JOY AND CONNECTIVITY INTO THE LIVES OF OLDER ADULTS. MUSICWORKS HAS BEEN A FIRST STEP TOWARDS BRINGING THE ARTS INTO ALL OUR PROGRAMS AND IN FY 2025 WAS OFFERED TWICE MONTHLY IN TWELVE SPANISH AND ENGLISH-SPEAKING SITES IN BOSTON.

Program 3

Expenses: $136,407

FRIENDSHIPWORKS' MEDICAL ESCORT PROGRAM PROVIDES VOLUNTEERS WHO ESCORT ELDERS TO AND FROM MEDICAL APPOINTMENTS. VOLUNTEERS PROVIDE EMOTIONAL SUPPORT AND PHYSICAL ASSISTANCE TO THOSE WHOSE AGE...

FRIENDSHIPWORKS' MEDICAL ESCORT PROGRAM PROVIDES VOLUNTEERS WHO ESCORT ELDERS TO AND FROM MEDICAL APPOINTMENTS. VOLUNTEERS PROVIDE EMOTIONAL SUPPORT AND PHYSICAL ASSISTANCE TO THOSE WHOSE AGE, HEALTH, OR DISABILITY WOULD PREVENT THEM FROM GOING TO AN APPOINTMENT. IN THIS FISCAL YEAR FRIENDSHIPWORKS PROVIDED 402 MEDICAL ESCORT RIDES TO 93 ELDERS.

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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 $1,486,979

Program Service Revenue $0

Investment Income $27,836

Other Revenue $-22,118

TOTAL REVENUE $1,492,697

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,167,902

Fundraising Expenses $438,425

Program Expenses $909,378

Other Expenses $428,613

TOTAL EXPENSES $1,688,119

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,492,697	$2,040,404	-0.3%
Expenses	$1,688,119	$1,493,796	+0.1%
Net Income	$-195,422	$546,608	-1.4%

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

Volunteers

600

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

$156,010

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN FOSTER	PRESIDENT	1.00	Officer Director	$0	$0	$0
FRANCIS THOMAS	TREASURER	1.00	Officer Director	$0	$0	$0
CAROL PRITCHETT KEMP	SECRETARY	1.00	Officer Director	$0	$0	$0
CAROLINE KUNG	DIRECTOR	1.00	Director	$0	$0	$0
DR RICHARD SCHWARTZ	DIRECTOR	1.00	Director	$0	$0	$0
KOREN O ISKRA	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH HADDAD	DIRECTOR	1.00	Director	$0	$0	$0
DANA RASHTI	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL APICELLA	DIRECTOR (UNTIL 12/24)	1.00	Director	$0	$0	$0
KYLE ROBIDOUX	DIRECTOR (UNTIL 2/25)	1.00	Director	$0	$0	$0
KYLE ROBIDOUX	EXECUTIVE DIRECTOR (AS OF 5/25)	40.00	Officer	$0	$0	$0
JANET SECKEL-CERROTTI	EXECUTIVE DIRECTOR (UNTIL 2/25)	40.00	Officer	$127,486	$28,524	$156,010
PATRICIA CATALANO	GRANT WRITER	40.00	Highest	$118,750	$3,563	$122,313

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	$1,492,697	$1,688,119	$1,469,750	$-195,422
2024	$2,040,404	$1,493,796	$1,712,478	$546,608
2023	$1,336,143	$1,306,353	$1,052,566	$29,790
2022	$995,738	$1,291,689	$1,004,231	$-295,951
2021	$1,236,350	$1,222,171	$1,336,957	$14,179
2020	$1,319,666	$1,134,220	$1,477,068	$185,446
2019	$1,030,643	$1,108,930	$1,113,691	$-78,287
2018	$1,235,398	$1,105,615	$1,169,648	$129,783