FRIENDS OF CANAAN INC (EIN 300627217) - Form 990 Financial Analysis & Trantor Score

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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

2011

Principal Officer

DAVID HERRING

Tax Period

2023-07-01 to 2024-06-30

FRIENDS OF CANAAN INC, founded in 2011, is a community nonprofit in the Education sector that reported $2.6M in total revenue in fiscal year 2023. Expenses of $2.4M left a modest 8% surplus.

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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 $2,573,495

Program Service Revenue $4,738

Investment Income $0

Other Revenue $38,793

TOTAL REVENUE $2,617,026

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,528,914

Fundraising Expenses $0

Program Expenses $1,992,912

Other Expenses $884,807

TOTAL EXPENSES $2,413,721

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,617,026	$2,469,491	+0.1%
Expenses	$2,413,721	$1,711,858	+0.4%
Net Income	$203,305	$757,633	-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

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
NICKIE BACKUS	BOARD SECRET	N/A	Officer Director	$0	$0	$0
JERRY EATON	BOARD MEMBER	N/A	Director	$0	$0	$0
DAVID HERRING	BOARD PRESID	N/A	Officer Director	$0	$0	$0
JENNIFER LYON	BOARD MEMBER	N/A	Director	$0	$0	$0
KENNETH MILLER	BOARD VICE P	N/A	Officer Director	$0	$0	$0
ANGELA RECORD	BOARD MEMBER	N/A	Director	$0	$0	$0
KRISTI ALLARD	CHIEF OPER O	N/A	Officer	$0	$0	$0
RHONDA PENNINGTON	CHIEF ADMIN	N/A	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
2025	No data	No data	No data	No data
2024	$2,617,026	$2,413,721	$2,402,867	$203,305
2023	$2,469,491	$1,711,858	$1,531,025	$757,633
2022	$2,388,809	$2,206,348	$1,002,466	$182,461
2021	$1,459,448	$1,586,472	$826,179	$-127,024
2020	$1,805,568	$1,815,028	$433,689	$-9,460
2019	$1,304,039	$1,224,403	$409,220	$79,636
2018	$1,047,566	$1,008,067	$241,144	$39,499

FRIENDS OF CANAAN INC