NATIONAL FLAG FOUNDATION

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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

1968

Legal Domicile

Principal Officer

ROMEL NICHOLAS

Phone

4122611776

Tax Period

2024-01-01 to 2024-12-31

NATIONAL FLAG FOUNDATION, founded in 1968, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $43K in total revenue in fiscal year 2024. Revenue surged 50% from the prior year, signaling strong growth momentum. Expenses of $119K exceeded revenue, resulting in a 179% operating deficit.

Mission

THE PURPOSE OF THE NATIONAL FLAG FOUNDATION IS TO PROMOTE A DEEPER APPRECIATION OF OUR NATION'S FOUNDING PRINCIPLES AND ITS FIRST AND PRINCIPAL EMBLEM, THE FLAG OF THE UNITED STATES OF AMERICA, BY SERVING AS A PRIMARY RESOURCE FOR PATRIOTIC AND FLAG EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $110,911

DURING THE PAST SEVEN YEARS, THE FOUNDATION HAS BEEN ABLE TO CONTINUE WORK ON ITS FUNDAMENTAL MISSION BY MAKING USE OF MODEST REVENUES AND ASSISTANCE OFFERED BY A STRONG TEAM OF VOLUNTEERS INCLUDING MEMBERS OF THE BOARD OF DIRECTORS. THE FOUNDATION, THROUGH PARTNERSHIPS WITH AND FUNDING FROM LOCAL FOUNDATIONS AND CORPORATIONS, HAS CREATED SEVERAL NATIONWIDE PATRIOTIC AND EDUCATIONAL CAMPAIGNS. THESE INCLUDE THE OPENING OF THE VISITOR'S CENTER DURING 2022 IN DOWNTOWN PITTSBURGH THAT WILL PROVIDE AN EDUCATIONAL RESOURCE DESTINATION FOR VISITORS, STUDENTS, AND RESIDENTS; AN INITIATIVE TO LOCATE AMERICAN FLAG DISPOSAL BOXES IN COUNTY OFFICE BUILDINGS ACROSS THE COUNTRY; AND NFF MOMENTS, WHICH WILL PROVIDE FLAG RELATED VIDEO CLIPS AND FACTS AT SPORTING EVENTS ACROSS THE COUNTRY. MOST RECENTLY, NFF HAS CREATED AND PILOTED NEW FEDERAL BIPARTISAN LEGISLATION TO ASSIST OUR NATION'S PURPLE HEART RECIPIENTS.

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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 $42,774

Program Service Revenue $0

Investment Income $39

Other Revenue $0

TOTAL REVENUE $42,813

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $110,911

Other Expenses $119,291

TOTAL EXPENSES $119,291

Year-over-Year Comparison

	2024	2023	Change
Revenue	$42,813	$28,460	+0.5%
Expenses	$119,291	$120,110	0.0%
Net Income	$-76,478	$-91,650	-0.2%

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

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
ROMEL NICHOLAS	CHAIRMAN	0.50	Officer Director	$0	$0	$0
JASON CANNON	VICE CHAIRMAN	0.10	Officer Director	$0	$0	$0
JAMES CRAWFORD	TREASURER	0.10	Officer Director	$0	$0	$0
GARY M DILMORE	SECRETARY	0.10	Officer Director	$0	$0	$0
FRANK J DECARLO	DIRECTOR	0.10	Director	$0	$0	$0
SCOTT CAPLAN	DIRECTOR	0.10	Director	$0	$0	$0
MICHAEL A DUNN MD FACP	DIRECTOR	0.10	Director	$0	$0	$0
PETER J KEIM MD	DIRECTOR	0.10	Director	$0	$0	$0
SANDI MCQUAIDE	DIRECTOR	0.10	Director	$0	$0	$0
SUE ROBERTS	DIRECTOR	0.10	Director	$0	$0	$0
MIKE THOMPSON	DIRECTOR	0.10	Director	$0	$0	$0
JO ANN MAITLAND	DIRECTOR	0.10	Director	$0	$0	$0
PAUL J WANSTREET	DIRECTOR	0.10	Director	$0	$0	$0
CAROLYN WELSH	DIRECTOR	0.10	Director	$0	$0	$0
NORRIS C BLOUNT	DIRECTOR	0.10	Director	$0	$0	$0
JOHN BANASZAK	DIRECTOR	0.10	Director	$0	$0	$0
JAMES A HILL	DIRECTOR	0.10	Director	$0	$0	$0
JUDY MURTHA	DIRECTOR	0.10	Director	$0	$0	$0
ROCKY BLEIER	DIRECTOR	0.10	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	$42,813	$119,291	$766,487	$-76,478
2023	$28,460	$120,110	$842,965	$-91,650
2022	$7,785	$189,630	$934,615	$-181,845
2021	$145,498	$99,858	$1,116,460	$45,640
2020	$55,651	$167,368	$1,135,113	$-111,717
2018	$529,986	$158,290	$830,572	$371,696