FEDERAL HILL COMMERCE ASSOCIATION (EIN 061482194) - 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

1985

Legal Domicile

Principal Officer

RICK SIMONE

Phone

4014327783

Tax Period

2024-01-01 to 2024-12-31

FEDERAL HILL COMMERCE ASSOCIATION, founded in 1985, is a community nonprofit in the Community Improvement sector that reported $1.6M in total revenue in fiscal year 2024. Revenue surged 119% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 68% operating margin.

Mission

TO FOSTER DEVELOPMENT, PROMOTION AND IMPROVEMENTS OF THE AREAS DESIGNATED WITHIN ITS JURISDICATION.

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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 $1,453,652

Program Service Revenue $144,942

Investment Income $5,765

Other Revenue $25,299

TOTAL REVENUE $1,629,658

Expense Breakdown

Grants Paid $0

Salaries & Benefits $187,210

Fundraising Expenses $0

Program Expenses $289,952

Other Expenses $341,072

TOTAL EXPENSES $528,282

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,629,658	$742,531	+1.2%
Expenses	$528,282	$759,090	-0.3%
Net Income	$1,101,376	$-16,559	-67.5%

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

$190,064

Total Directors

$29,955

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ARMANDO BISCEGLIA	CHAIRMAN	1.00	Officer Director	$0	$500	$500
ROBERT ZORABEDIAN	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
ROBERT D'AMICO	TREASURER	1.00	Officer Director	$0	$0	$0
CHRIS CHABOT	SECRETARY	1.00	Officer Director	$0	$2,354	$2,354
DAVE ZARELLA	DIRECTOR	1.00	Director	$0	$13,800	$13,800
JESSICA WILKIN	DIRECTOR	1.00	Director	$0	$0	$0
CLARA BORGES	DIRECTOR	1.00	Director	$0	$0	$0
KEN TURCHETTA	DIRECTOR	1.00	Director	$0	$13,301	$13,301
STEVE ANDERSON	DIRECTOR	1.00	Director	$0	$0	$0
RICK SIMONE	PRESIDENT	20.00	Officer	$0	$187,210	$187,210

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	$1,629,658	$528,282	$1,193,175	$1,101,376
2023	$742,531	$759,090	$94,044	$-16,559
2022	$663,077	$588,154	$110,153	$74,923
2021	$360,467	$341,355	$38,039	$19,112
2020	$534,275	$557,606	$57,427	$-23,331

FEDERAL HILL COMMERCE ASSOCIATION