FRIENDS OF WESTWOOD RECREATIONAL C… - Form 990 Financial Data

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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

2008

Legal Domicile

Principal Officer

MICHAEL EVELOFF

Phone

3105561370

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF WESTWOOD RECREATIONAL COMPLEX, founded in 2008, is a small nonprofit in the Recreation & Sports sector that reported $445K in total revenue in fiscal year 2023. Revenue fell 29% from the prior year — a significant decline worth monitoring. Net assets of $3.8M represent 102 months of operating reserves.

Mission

TO SUPPORT LOCAL INFRASTRUCTURE INCLUDING PARKS, SCHOOLS, LIBRARIES, POLICE DEPARTMENTS, AND FIRE STATIONS.

Program Service Accomplishments

Program 1

Expenses: $398,235

Provided funds to support several Los Angeles Fire Department stations with equipment, consumer electronics, equipment maintenance and facility maintenance.Provided funds to support the West Los...

Provided funds to support several Los Angeles Fire Department stations with equipment, consumer electronics, equipment maintenance and facility maintenance.Provided funds to support the West Los Angeles Police Department with outreach programs, officer appreciation events and office equipment/furniture.Provided funds to support local public elementary and middle schools, libraries and parks with education programs, outreach programs, safety equipment, office equipment, recreational programming and facilities improvements.

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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 $343,216

Program Service Revenue $0

Investment Income $101,510

Other Revenue $0

TOTAL REVENUE $444,726

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $398,235

Other Expenses $467,716

TOTAL EXPENSES $467,716

Year-over-Year Comparison

	2023	2022	Change
Revenue	$444,726	$621,999	-0.3%
Expenses	$467,716	$499,419	-0.1%
Net Income	$-22,990	$122,580	-1.2%

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

N/A

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
JOSEPH GALLOWAY	Director	8.00	Director	$0	$0	$0
LAURA LAKE	Director	1.00	Director	$0	$0	$0
JAMES GOODMAN	Vice President	5.00	Officer	$0	$0	$0
MICHAEL EVELOFF	President	4.00	Officer	$0	$0	$0
STEVE SINES	Treasurer	1.00	Officer	$0	$0	$0
GERALYN GOODMAN	Secretary	2.00	Officer	$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	No data	No data	No data	No data
2023	$444,726	$467,716	$3,772,666	$-22,990
2022	$621,999	$499,419	$3,605,454	$122,580
2021	$711,973	$574,111	$3,765,928	$137,862
2020	$836,882	$934,743	$3,766,034	$-97,861
2019	$1,198,216	$524,214	$4,134,456	$674,002
2018	$352,259	$450,351	$3,420,867	$-98,092

FRIENDS OF WESTWOOD RECREATIONAL COMPLEX