Springfield Business Improvement D… - 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

1998

Legal Domicile

Phone

4137811591

Tax Period

2022-07-01 to 2023-06-30

Springfield Business Improvement District Inc, founded in 1998, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2022. Revenue decreased 6% compared to the prior year.

Mission

Promote the developmnet of business and economic activity within the business improvement district in Springfield, Massachusetts.

Program Service Accomplishments

Program 1

Promote the developmnet of business and economic activity within the business improvement district in Springfield, Massachusetts.

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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 (2022)

Revenue Breakdown

Contributions & Grants $305,388

Program Service Revenue $924,412

Investment Income $12,196

Other Revenue $70,840

TOTAL REVENUE $1,312,836

Expense Breakdown

Grants Paid $63,368

Salaries & Benefits $377,256

Fundraising Expenses $0

Other Expenses $936,063

TOTAL EXPENSES $1,376,687

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,312,836	$1,395,180	-0.1%
Expenses	$1,376,687	$1,310,690	+0.1%
Net Income	$-63,851	$84,490	-1.8%

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

Volunteers

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

$85,748

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Christopher Russell	Former ED	40.00		$0	$0	$245,683
Michelle Grout	Executive Dir.	40.00	Officer	$0	$0	$85,748
James Hickson	Chairman	2.00	Officer Director	$0	$0	$0
Keith Weppler	Vice Chairman	2.00	Officer Director	$0	$0	$0
Paul Marcelina	Treasurer	2.00	Officer Director	$0	$0	$0
Jeffrey Fialky	Clerk	1.00	Director	$0	$0	$0
Evan Plotkin	Director	1.00	Director	$0	$0	$0
Sara Smith	Director	1.00	Director	$0	$0	$0
Paul Lessard	Director	1.00	Director	$0	$0	$0
Augustine Kim	Director	1.00	Director	$0	$0	$0
Raipher Peligrino	Chairman	1.00	Director	$0	$0	$0
Brian Connors	01103	1.00	Director	$0	$0	$0
Kay Simpson	Director	1.00	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$1,312,836	$1,376,687	$2,032,775	$-63,851
2022	$1,356,557	$1,513,322	$2,233,005	$-156,765
2021	$1,395,180	$1,310,690	$2,328,496	$84,490
2020	$1,494,666	$1,511,733	$2,324,383	$-17,067
2019	$1,467,730	$1,325,773	$1,684,840	$141,957
2018	$1,296,305	$1,116,972	$1,603,586	$179,333

Springfield Business Improvement District Inc