FRIENDS OF ITHEMBA

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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

2004

Legal Domicile

Principal Officer

PAUL BAGNOLI

Phone

9083476831

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF ITHEMBA, founded in 2004, is a micro nonprofit in the Diseases & Disorders sector that reported $43K in total revenue in fiscal year 2023. Revenue surged 158% from the prior year, signaling strong growth momentum. The organization ran a surplus of $28K, a strong 64% operating margin.

Mission

THE MISSION OF FRIENDS OF ITHEMBA IS TO RAISE AWARENESS AND PROVIDE GRANT FUNDING FOR THE CARE AND EDUCATION OF VULNERABLE CHILDREN IN SOUTH AFRICA AND TO PROVIDE GRANT FUNDING FOR THE EDUCATIONAL NEEDS, ESPECIALLY EARLY CHILDHOOD EDUCATION OF THE INDIGENOUS POPULATION.

Program Service Accomplishments

Program 1

FRIENDS OF ITHEMBA MADE GRANTS THAT SUPPORT THE FOSTER CARE AND EDUCATIONAL NEEDS OF VULNERABLE CHILDREN PLACED IN THE CARE OF FOCUS ON ITHEMBA BY THE SOUTH AFRICAN GOVERNMENT. FOCUS ON ITHEMBA IS A...

Program 2

FRIENDS OF ITHEMBA MADE GRANTS THAT SUPPORTED THE ESTABLISHMENT OF EARLY CHILDHOOD EDUCATION FAVILITIES AND PRE-SCHOOL PROGRAMS ESTABLISHED BY FOCUS ON ITHEMBA. FOCUS ON ITHEMBA IS A REGISTERED...

FRIENDS OF ITHEMBA MADE GRANTS THAT SUPPORTED THE ESTABLISHMENT OF EARLY CHILDHOOD EDUCATION FAVILITIES AND PRE-SCHOOL PROGRAMS ESTABLISHED BY FOCUS ON ITHEMBA. FOCUS ON ITHEMBA IS A REGISTERED PUBLIC BENEFIT ORGANIZATION IN THE REPUBLIC OF SOUTH AFRICA.

Program 3

Expenses: $15,000

FRIENDS OF ITHEMBA MADE GRANTS THAT SUPPORTED FACILITIES DEVELOPMENT AND SCHOLARSHIP ASSISTANCE FOR THE WATERFALL SCHOOLS SERVING SCHOOL AGE CHILDREN. THE SCHOOLS WERE ESTABLISHED BY FOCUS ON...

FRIENDS OF ITHEMBA MADE GRANTS THAT SUPPORTED FACILITIES DEVELOPMENT AND SCHOLARSHIP ASSISTANCE FOR THE WATERFALL SCHOOLS SERVING SCHOOL AGE CHILDREN. THE SCHOOLS WERE ESTABLISHED BY FOCUS ON ITHEMBA, A REGISTERED PUBLIC BENEFIT ORGANIZATION IN THE REPUBLIC OF SOUTH AFRICA.

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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 $34,098

Program Service Revenue $0

Investment Income $9,244

Other Revenue $0

TOTAL REVENUE $43,342

Expense Breakdown

Grants Paid $15,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $15,000

Other Expenses $700

TOTAL EXPENSES $15,700

Year-over-Year Comparison

	2023	2022	Change
Revenue	$43,342	$16,778	+1.6%
Expenses	$15,700	$12,705	+0.2%
Net Income	$27,642	$4,073	+5.8%

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
LAUREN BAGNOLI	DIRECTOR	N/A	Director	$0	$0	$0
PAUL BAGNOLI	TREASURER	N/A	Officer Director	$0	$0	$0
DANIEL VAN DEN HEEVER	CHAIRMAN	N/A	Officer Director	$0	$0	$0
JUDY VAN DEN HEEVER	DIRECTOR	N/A	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	$43,342	$15,700	$35,790	$27,642
2022	$16,778	$12,705	$14,221	$4,073
2021	$83,585	$80,005	$11,066	$3,580
2020	$148,145	$159,515	$7,486	$-11,370
2019	$142,136	$141,166	$18,856	$970
2018	$163,085	$145,898	$17,886	$17,187