Friends of Coal Inc

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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

Aaron Bond

Phone

8592334743

Tax Period

2023-01-01 to 2023-12-31

Friends of Coal Inc, founded in 2008, is a small nonprofit in the Community Improvement sector that reported $889K in total revenue in fiscal year 2023. The organization ran a surplus of $479K, a strong 54% operating margin.

Mission

Friends of Coal, Inc. is a non-profit organziation dedicated to informing and educating Kentucky citizens about the coal industry and its vital role in the state's future. We provide a united voice for an industry that has been and remains a critical economic contributor to Kentucky. By working together, we can provide good jobs and benefits for future generations.

Program Service Accomplishments

Program 1

Increase awareness of and promote the coal industry in Kentucky.

Program 2

Provide flood relief support for Eastern Kentucky.

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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 $0

Program Service Revenue $887,443

Investment Income $1,247

Other Revenue $0

TOTAL REVENUE $888,690

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $409,374

TOTAL EXPENSES $409,374

Year-over-Year Comparison

	2023	2022	Change
Revenue	$888,690	$824,820	+0.1%
Expenses	$409,374	$390,016	+0.0%
Net Income	$479,316	$434,804	+0.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Melanie Kilpatrick	Director	1.00	Director	$0	$0	$0
Tucker Davis	Director	1.00	Director	$0	$0	$0
Andrew Boyd	Director	1.00	Director	$0	$0	$0
Aaron Bond	President	1.00	Officer	$0	$0	$0
Timothy Fields	Treasurer	1.00	Officer	$0	$0	$0
Lauren McElroy	Secretary	1.00	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	$888,690	$409,374	$1,324,112	$479,316
2022	$824,820	$390,016	$844,796	$434,804
2021	$732,549	$528,783	$409,992	$203,766
2020	$409,172	$361,004	$206,226	$48,168
2019	$385,113	$356,751	$158,058	$28,362
2018	$349,031	$303,451	$129,696	$45,580