GREG RICHARDS LARRY POLATSCH & S W… - 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

2003

Legal Domicile

Principal Officer

ANDREW KAMINSKY

Phone

9178422591

Tax Period

2024-10-01 to 2025-09-30

GREG RICHARDS LARRY POLATSCH & S WEINGARD MEMORIAL FUND INC, founded in 2003, is a micro nonprofit in the Education sector that reported $22K in total revenue in fiscal year 2024. Revenue surged 400% from the prior year, signaling strong growth momentum. Expenses of $42K exceeded revenue, resulting in a 97% operating deficit.

Mission

THE PRIMARY PURPOSE OF THE GLS MEMORIAL FUND IS TO HONOR THE MEMORIES OF GREG RICHARDS, LARRY POLTASCH AND SCOTT WEINGARD WHO WERE TRAGICALLY LOST ON SEPTEMBER 11, 2001 IN THE ATTACH ON THE WORLD TRADE CENTER. THE ORGANIZATION RAISES FUNDS TO PRIMARILY ENDOW SCHOLARSHIPS TO THE UNIVERSITY OF MICHIGAN FOR STUDENTS IN NEED OF FINANCIAL ASSISTANCE FOR COLLEGE EDUCAITON. THE ORGANIZATION EXTENDED ITS MISSION TO INCLUDE MAKING CHARITABLE CONTRIBUTIONS TO OTHER WORTHWHILE ORGANIZED CHARITIES IN MEMORY OF THE THREE INDIVIDUALS HONORED BY THE FUND.

Program Service Accomplishments

Program 1

Expenses: $42,400 Revenue: $12,467

CHARITABLE DONATIONS - THE GREG RICHARDS, LARRY POLATSCH & SCOTT WEINGARD MEMORIAL FUND EXTENDED ITS MISSION TO INCLUDE MAKING CHARITABLE DONATIONS TO OTHER ORGANIZED CHARITIES. THE FUND CONTRIBUTED $26,000 TO THE UNIVERSITY OF MICHIGAN AND A COMBINED $10,400 TO OTHER CHARITIES AND FOUNDATIONS.

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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 $12,467

Program Service Revenue $0

Investment Income $9,038

Other Revenue $0

TOTAL REVENUE $21,505

Expense Breakdown

Grants Paid $36,400

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $42,400

Other Expenses $6,000

TOTAL EXPENSES $42,400

Year-over-Year Comparison

	2024	2023	Change
Revenue	$21,505	$4,300	+4.0%
Expenses	$42,400	$59,005	-0.3%
Net Income	$-20,895	$-54,705	-0.6%

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
JARED FELDMAN	DIRECTOR	0.00	Officer Director	$0	$0	$0
ANDREW KAMINSKY	EXECUTIVE DIRECTOR	3.00	Officer Director	$0	$0	$0
DANIEL POLATSCH	DIRECTOR	0.00	Officer 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	$21,505	$42,400	$206,596	$-20,895
2024	$4,300	$59,005	$227,491	$-54,705
2023	$98,013	$25,330	$283,162	$72,683
2022	$4,433	$36,765	$209,513	$-32,332
2021	$103,867	$75,670	$241,846	$28,197
2020	$116,882	$125,005	$213,647	$-8,123
2019	$9,957	$18,992	$221,768	$-9,035
2018	$1,331	$58,244	$232,402	$-56,913

GREG RICHARDS LARRY POLATSCH & S WEINGARD MEMORIAL FUND INC