BRIDGING AZ FURNITURE BANK

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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

Jim Piscopo

Phone

4803755454

Tax Period

2024-01-01 to 2024-12-31

BRIDGING AZ FURNITURE BANK, founded in 2004, is a small nonprofit in the Human Services sector that reported $319K in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $389K exceeded revenue, resulting in a 22% operating deficit.

Mission

Bridging AZ Furniture Bank is a unique service concept: Bridging AZ qualifies Social Service Agencies, and their caseworkers qualify the client who receives the furniture. Bridging AZ is Arizona's first and only furniture bank. In the past 20 years Bridging AZ has distributed over 380,000 items to families in need throughout Arizona, supporting over 200 social service agencies. Currently; Bridging AZ supports agencies who offer "Permanent Supportive Housing" to chronically homeless veterans and those who have disabilities both physically and/or mental. Bridging delivers furniture to 4-8 apartments per week. Each veteran receives an apartment of basic furniture, new cookware, linens and household items as well as a new bed and bed frame.

Program Service Accomplishments

Program 1

Expenses: $351,761 Revenue: $167,895

Bridging Furniture Bank was founded in 2004. The Furniture Bank collects donated furniture and household items to distribute through social service agencies for their clients. All clients receiving furniture or household goods are identified, qualified and further supported by the referring agency. Bridging qualifies the Agency and the agencies case managers qualify the families. The Furniture Bank is a welcoming atmosphere where case managers from social service agencies can select items they need for their clients to start rebuilding their lives. In 2024 Bridging AZ delivered furniture to over 350 people including setting up 230 apartments for chronically homeless Veterans. Note: Expenses include $37,841 cash spent purchasing beds, furniture for clients. Program income is generated through sales of donated product and agency fees. Values of used in-kind goods based comparable sales method. Values of new items supplied by retailers.

Program 2

Expenses: $36,564 Revenue: $46,000

Welcome Box Program: in 2023 Bridging took over a program from another agency. In 2024 Bridging provided 230 Welcome Boxes to previously homeless veterans who we deliver furniture to. Welcome boxes include sheets, towels, pillows, coffee maker, toaster, microwave, cookware and other kitchen and hygiene items. Note: Expenses include $30,814 cash spent purchasing NEW items for the welcome boxes and 1 hour each (230 hours @ $25 = $5,750) for purchasing and packing the boxes.

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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 $151,416

Program Service Revenue $167,895

Investment Income $0

Other Revenue $0

TOTAL REVENUE $319,311

Expense Breakdown

Grants Paid $141,250

Salaries & Benefits $83,689

Fundraising Expenses $0

Program Expenses $388,325

Other Expenses $164,241

TOTAL EXPENSES $389,180

Year-over-Year Comparison

	2024	2023	Change
Revenue	$319,311	$260,225	+0.2%
Expenses	$389,180	$331,321	+0.2%
Net Income	$-69,869	$-71,096	0.0%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jim Piscopo	Executive Director	2	Officer Director	$0	$0	$0
Pat Dodds	Director	2	Director	$0	$0	$0
Kim Arries	Chair	2	Officer Director	$0	$0	$0
Jane Gharibian	Secretary	2	Officer Director	$0	$0	$0
Lindsay Estrabrook	Treasurer	2	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
2024	$319,311	$389,180	$51,841	$-69,869
2023	$260,225	$331,321	$106,165	$-71,096
2022	$482,364	$473,103	$182,844	$9,261
2021	$401,620	$362,522	$293,199	$39,098
2020	$581,658	$543,773	$323,731	$37,885
2019	$479,784	$646,936	$214,670	$-167,152
2018	$396,969	$416,040	$290,440	$-19,071