INDEPENDENCE FORGE ASSOC INC C/O P… - 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

1992

Legal Domicile

Principal Officer

MELISSA MILLER

Phone

5082131580

Tax Period

2023-01-01 to 2023-12-31

INDEPENDENCE FORGE ASSOC INC C/O PLATINUM SERVICES PROPERTY MGMT, founded in 1992, is a small nonprofit that reported $893K in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $844K left a modest 5% surplus.

Mission

SERVICING A HOMEOWNERS' COMMUNITY; MANAGING AND ADMINISTERING THE SEWER SYSTEMS, ROAD, CLUBHOUSE AND OTHER AMENITIES SERVICING CANNON FORGE CONDOMINIUM ASSOCIATION AND SUMMERFIELD PROPERTY OWNERS' ASSOCIATION IN FOXBORO, MA.

Program Service Accomplishments

Program 1

Expenses: $827,337 Revenue: $870,839

THE ORGANIZATION'S PURPOSE IS TO MANAGE AND MAINTAIN A SEWER SYSTEM, ROADS, CLUBHOUSE AND OTHER AMENITIES SERVICING A COMMUNITY OF HOMEOWNERS ASSOCIATIONS.

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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 $870,839

Program Service Revenue $0

Investment Income $12,948

Other Revenue $8,869

TOTAL REVENUE $892,656

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $827,337

Other Expenses $843,647

TOTAL EXPENSES $843,647

Year-over-Year Comparison

	2023	2022	Change
Revenue	$892,656	$793,311	+0.1%
Expenses	$843,647	$727,389	+0.2%
Net Income	$49,009	$65,922	-0.3%

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

N/A

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
MARIO COLANGELO	DIRECTOR	N/A	Director	$0	$0	$0
VITALY DUMANIS	DIRECTOR	N/A	Director	$0	$0	$0
GIL FALK	DIRECTOR	N/A	Director	$0	$0	$0
MARGARET HAWKINS	DIRECTOR	N/A	Director	$0	$0	$0
DALE PACCIONE	DIRECTOR	N/A	Director	$0	$0	$0
JEFFREY PRAG	DIRECTOR	N/A	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	No data	No data	No data	No data
2023	$892,656	$843,647	$740,077	$49,009
2022	$793,311	$727,389	$790,224	$65,922
2021	$734,904	$738,826	$755,942	$-3,922
2020	$788,730	$661,460	$744,533	$127,270
2019	$563,311	$677,214	$687,111	$-113,903
2018	$508,802	$698,838	$798,053	$-190,036

INDEPENDENCE FORGE ASSOC INC C/O PLATINUM SERVICES PROPERTY MGMT