AQUIDNECK ISLAND LAND TRUST (EIN 223073770) - 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

1999

Legal Domicile

Principal Officer

TERENCE M SULLIVAN

Phone

4018492799

Tax Period

2023-10-01 to 2024-09-30

AQUIDNECK ISLAND LAND TRUST, founded in 1999, is a community nonprofit in the Environment sector that reported $2.6M in total revenue in fiscal year 2023. Revenue surged 44% from the prior year, signaling strong growth momentum. Expenses of $5.1M exceeded revenue, resulting in a 94% operating deficit.

Mission

PRESERVE AQUIDNECK ISLAND'S OPEN SPACES & NATURAL CHARACTER FOR THE LASTING BENEFIT OF THE COMMUNITY.

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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 $2,349,901

Program Service Revenue $0

Investment Income $410,103

Other Revenue $-142,279

TOTAL REVENUE $2,617,725

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,038,978

Fundraising Expenses $370,988

Program Expenses $4,305,567

Other Expenses $4,035,784

TOTAL EXPENSES $5,074,762

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,617,725	$1,820,954	+0.4%
Expenses	$5,074,762	$3,602,339	+0.4%
Net Income	$-2,457,037	$-1,781,385	+0.4%

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

189

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

$184,011

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JONATHAN GEWIRZ	CHAIR (AS OF 2/1/24)	1.00	Officer Director	$0	$0	$0
TOM HOCKADAY	CHAIR (TO 2/1/24)	1.00	Officer Director	$0	$0	$0
THOMAS GIBSON	VICE CHAIR (AS OF 2/1/24)	1.00	Officer Director	$0	$0	$0
CONLEY ZANI	VICE CHAIR (TO 2/1/24)	1.00	Officer Director	$0	$0	$0
ALVARO LONDONO	TREASURER (AS OF 2/1/24)	1.00	Officer Director	$0	$0	$0
ZIA EFTEKHAR	TREASURER (TO 2/1/24)	1.00	Officer Director	$0	$0	$0
CONLEY ZANI	SECRETARY (AS OF 2/1/24)	1.00	Officer Director	$0	$0	$0
BETTIE BEARDEN PARDEE	TRUSTEE	1.00	Director	$0	$0	$0
MARK MAROSITS	TRUSTEE	1.00	Director	$0	$0	$0
BILL CORCORAN	TRUSTEE	1.00	Director	$0	$0	$0
ELLEN BOWMAN	TRUSTEE (TO 10/23)	1.00	Director	$0	$0	$0
LIZ TABER KOBYLAK	TRUSTEE	1.00	Director	$0	$0	$0
SANDRA CRAIG	TRUSTEE	1.00	Director	$0	$0	$0
NANCY PARKER WILSON	TRUSTEE (TO 2/24)	1.00	Director	$0	$0	$0
STEPHEN HUTTLER	TRUSTEE	1.00	Director	$0	$0	$0
STEVE MCINNIS	TRUSTEE (TO 12/23)	1.00	Director	$0	$0	$0
TIMOTHY BROWN	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM W HARVEY II	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW KIRBY	TRUSTEE	1.00	Director	$0	$0	$0
DAVID MACBAIN	TRUSTEE	1.00	Director	$0	$0	$0
LILLY DICK	TRUSTEE (AS OF 5/24)	1.00	Director	$0	$0	$0
SARA WUERSTLE	TRUSTEE (AS OF 3/24)	1.00	Director	$0	$0	$0
TERENCE SULLIVAN	EXECUTIVE DIRECTOR	40.00	Officer	$67,411	$3,186	$70,597
MARTHA CURLEY	DIRECTOR OF FINANCE	40.00	Officer	$92,586	$20,828	$113,414
EDWARD MAGRO	DEVELOPMENT DIRECTOR	40.00	Highest	$147,577	$30,804	$178,381
CHARLES ALLOTT	FORMER EXECUTIVE DIRECTOR	40.00		$72,209	$581	$72,790

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	$2,617,725	$5,074,762	$25,780,238	$-2,457,037
2023	$1,820,954	$3,602,339	$28,033,960	$-1,781,385
2022	$12,286,416	$9,799,320	$29,066,748	$2,487,096
2021	$25,123,306	$20,242,686	$25,504,310	$4,880,620
2020	$3,051,978	$970,247	$19,241,770	$2,081,731
2019	$1,320,536	$1,062,105	$16,172,561	$258,431
2018	$1,671,306	$935,967	$15,420,558	$735,339

AQUIDNECK ISLAND LAND TRUST