FLOORCOVERING INDUSTRY IMPROVEMENT FUND (EIN 226512809) - 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

1973

Legal Domicile

Principal Officer

JIM BURKE

Phone

4012582625

Tax Period

2024-01-01 to 2024-12-31

FLOORCOVERING INDUSTRY IMPROVEMENT FUND, founded in 1973, is a small nonprofit in the Employment sector that reported $194K in total revenue in fiscal year 2024. Net assets of $644K represent 40 months of operating reserves.

Mission

TO ACCEPT DUES COLLECTED FROM FLOORING CONTRACTORS AND REMIT TO TRADE ASSOCIATION TO PROVIDE FUNDING FOR MEETINGS AND OTHER EVENTS TO PROMOTE THE TECHNICAL ADVANCEMENT OF THE INDUSTRY.

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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 $167,457

Program Service Revenue $0

Investment Income $26,095

Other Revenue $0

TOTAL REVENUE $193,552

Expense Breakdown

Grants Paid $194,742

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $0

TOTAL EXPENSES $194,742

Year-over-Year Comparison

	2024	2023	Change
Revenue	$193,552	$196,751	0.0%
Expenses	$194,742	$135,000	+0.4%
Net Income	$-1,190	$61,751	-1.0%

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

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

$50,000

Total Directors

$50,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM BURKE	PRESIDENT	1.00	Officer Director	$0	$0	$44,000
L JAMES SPIRO	CLERK	1.00	Officer Director	$0	$0	$6,000
STEVE BECHT	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
JAMES COLOMBO	SECRETARY	1.00	Officer Director	$0	$0	$0
MATT MARRAMA	TREASURER	1.00	Officer Director	$0	$0	$0
JOHN MCNULTY	ASSOCIATE DI	1.00	Director	$0	$0	$0
DAVID RUGGIERI	DIRECTOR	1.00	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	$193,552	$194,742	$643,565	$-1,190
2023	$196,751	$135,000	$644,755	$61,751
2022	$201,479	$145,000	$583,004	$56,479
2021	$180,113	$80,000	$526,525	$100,113
2020	$161,873	$109,120	$426,412	$52,753
2019	$211,111	$125,001	$373,659	$86,110

FLOORCOVERING INDUSTRY IMPROVEMENT FUND