FRIENDS OF CRESCENT PARK

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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

KATHERINE HELDER

Phone

6162345368

Tax Period

2024-01-01 to 2024-12-31

FRIENDS OF CRESCENT PARK, founded in 2008, is a micro nonprofit in the Recreation & Sports sector that reported $14K in total revenue in fiscal year 2024. Revenue surged 33% from the prior year, signaling strong growth momentum. Expenses of $13K left a modest 7% surplus.

Mission

TO PRESERVE, IMPROVE, EXPAND, AND PROMOTE THE USE OF CRESCENT PARK IN THE CITY OF GRAND RAPIDS, MICHIGAN.

Program Service Accomplishments

Program 1

Expenses: $11,266

FRIENDS OF CRESCENT PARK MAINTAINED THE PREMISES TO PRESERVE CRESCENT PARK IN GRAND RAPIDS, MICHIGAN.

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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 $14,000

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $14,000

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $11,266

Other Expenses $13,018

TOTAL EXPENSES $13,018

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,000	$10,565	+0.3%
Expenses	$13,018	$7,734	+0.7%
Net Income	$982	$2,831	-0.7%

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
TIMOTHY MYERS	PRESIDENT	1.00	Officer Director	$0	$0	$0
KATIE HELDER	TREASURER	1.00	Officer Director	$0	$0	$0
KIM COUSINEAU	SECRETARY	1.00	Officer Director	$0	$0	$0
THOMAS R CURRAN JR	DIRECTOR	1.00	Director	$0	$0	$0
SAM PINTO	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	$14,000	$13,018	$1,726,221	$982
2023	$10,565	$7,734	$1,726,123	$2,831
2022	$15,000	$16,999	$1,725,973	$-1,999
2021	$10,000	$10,418	$1,724,407	$-418
2020	$18,500	$19,403	$1,725,278	$-903