FRIENDS OF RITTENHOUSE SQUARE

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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

1976

Legal Domicile

Tax Period

2023-10-01 to 2024-09-30

FRIENDS OF RITTENHOUSE SQUARE, founded in 1976, is a small nonprofit in the Environment sector that reported $923K in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $890K left a modest 4% surplus.

Mission

TO PRESERVE, PROTECT, AND BEAUTIFY THE RITTENHOUSE SQUARE PARK, IN THE RITTENHOUSE SECTION OF PHILADELPHIA.

Program Service Accomplishments

Program 1

Expenses: $730,372

The Friends of Rittenhouse Square was created in 1976 to address the increasing gap between available city funding and the maintenance needs of Rittenhouse Square. The Friends work in a...

The Friends of Rittenhouse Square was created in 1976 to address the increasing gap between available city funding and the maintenance needs of Rittenhouse Square. The Friends work in a public-private partnership with Philadelphia Parks & Recreation. The Friends provide all of the park landscaping, tree care, grass seeding, graffiti removal, bench repair, supplemental seasonal maintenance staff, sidewalk sweeping, dedicated park ranger, excess seasonal trash removal, holiday lights, doggie bags, etc. Upgraded lighting, the installation of a security camera system, and over one million dollars in historic restoration work are the most recent improvements the Friends have made to the park.

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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 $1,091,458

Program Service Revenue $0

Investment Income $4,185

Other Revenue $-172,485

TOTAL REVENUE $923,158

Expense Breakdown

Grants Paid $0

Salaries & Benefits $219,184

Fundraising Expenses $121,189

Program Expenses $730,372

Other Expenses $671,218

TOTAL EXPENSES $890,402

Year-over-Year Comparison

	2023	2022	Change
Revenue	$923,158	$799,828	+0.2%
Expenses	$890,402	$768,354	+0.2%
Net Income	$32,756	$31,474	+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

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
SEE THE ATTACHED	PLEASE SEE THE ATTACHED LIST	2.00	Director	$0	$0	$0
LAURA LAROSA	BOARD PRESIDENT	10.00	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
2024	$923,158	$890,402	$699,256	$32,756
2023	$799,828	$768,354	$678,592	$31,474
2022	$867,734	$1,000,845	$615,241	$-133,111
2021	$501,963	$710,673	$747,815	$-208,710
2020	$343,780	$741,159	$956,525	$-397,379