CLOSED END FUND ASSOCIATION INC (EIN 043403082) - 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

1998

Legal Domicile

Principal Officer

RENNIE MCCONNOCHIEE

Phone

8164138900

Tax Period

2023-07-01 to 2024-06-30

CLOSED END FUND ASSOCIATION INC, founded in 1998, is a small nonprofit that reported $253K in total revenue in fiscal year 2023. Expenses of $280K exceeded revenue, resulting in a 11% operating deficit.

Mission

CLOSED END FUND ASSOCIATION IS COMMITTED TO EDUCATING THE INVESTING PUBLIC ABOUT THE MANY BENEFITS OF CLOSED END FUND PRODUCTS AND TO PROVIDE A RESOURCE FOR INFORMATION ABOUT ITS MEMBERS AND THEIR OFFERINGS

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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 $0

Program Service Revenue $252,937

Investment Income $43

Other Revenue $0

TOTAL REVENUE $252,980

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $280,355

Other Expenses $280,355

TOTAL EXPENSES $280,355

Year-over-Year Comparison

	2023	2022	Change
Revenue	$252,980	$240,964	+0.0%
Expenses	$280,355	$256,527	+0.1%
Net Income	$-27,375	$-15,563	+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

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
JONATHAN ISAAC	PRESIDENT	1.00	Officer Director	$0	$0	$0
JEFF KEELE	TREASURER	1.00	Officer Director	$0	$0	$0
CHRISTOPHER LARSEN	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFF MARGOLIN	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN KRAMER	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN SMITH	EXECUTIVE DIRECTOR	16.00	Officer	$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
2025	No data	No data	No data	No data
2024	$252,980	$280,355	$72,293	$-27,375
2023	$240,964	$256,527	$13,814	$-15,563
2022	$205,769	$244,242	$31,242	$-38,473
2021	$219,701	$258,075	$54,181	$-38,374
2020	$286,219	$281,348	$92,264	$4,871
2019	$351,071	$308,795	$104,098	$42,276

CLOSED END FUND ASSOCIATION INC