THE TENNIS FOUNDATION OF CONNECTIC… - 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

1989

Legal Domicile

Phone

2037767331

Tax Period

2023-10-01 to 2024-09-30

THE TENNIS FOUNDATION OF CONNECTICUT INC, founded in 1989, is a small nonprofit in the Recreation & Sports sector that reported $195K in total revenue in fiscal year 2023. Revenue surged 498% from the prior year, signaling strong growth momentum. Expenses of $175K left a modest 11% surplus.

Mission

To promote economic development and support urban programs in Connecticut and the local community.

Program Service Accomplishments

Program 1

Expenses: $150,749

The Tennis Foundation of Connecticut is in the process of setting a long-term strategy that will entail granting its financial assets to support programs and events for the benefit of the State of...

The Tennis Foundation of Connecticut is in the process of setting a long-term strategy that will entail granting its financial assets to support programs and events for the benefit of the State of Connectiut and the community. Property has been purchased with the intent of developing a student enrichment and tennis fitness center, which will combine academic enrichment, character building and tennis development.

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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 $0

Investment Income $159,949

Other Revenue $35,443

TOTAL REVENUE $195,392

Expense Breakdown

Grants Paid $145,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $150,749

Other Expenses $29,769

TOTAL EXPENSES $174,769

Year-over-Year Comparison

	2023	2022	Change
Revenue	$195,392	$32,689	+5.0%
Expenses	$174,769	$216,931	-0.2%
Net Income	$20,623	$-184,242	-1.1%

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
Chris Shackelton	Chairman of the Board	005.00	Officer Director	$0	$0	$0
Barry Brooks	Vice Chairman	001.00	Officer Director	$0	$0	$0
Jay Brotman	Secretary	000.30	Officer Director	$0	$0	$0
Mandy Agre	Treasurer	000.30	Officer Director	$0	$0	$0
Mary-Jane Foster	Director	000.30	Director	$0	$0	$0
Rich Jacob	Director	000.30	Director	$0	$0	$0
Mark Ojakian	Director	000.30	Director	$0	$0	$0
Vin Petrini	Director	000.30	Director	$0	$0	$0
Anne Worcester	Director	000.30	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	$195,392	$174,769	$3,875,969	$20,623
2023	$32,689	$216,931	$3,850,266	$-184,242
2022	No data	$77,224	$4,030,532	No data
2021	No data	$59,948	$4,099,559	No data
2020	No data	$814,074	$4,776,557	No data
2019	$5,983,931	$1,216,706	$16,348,871	$4,767,225
2018	$4,206,686	$5,230,599	$11,197,269	$-1,023,913

THE TENNIS FOUNDATION OF CONNECTICUT INC