PAPER CIRCLE

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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

2002

Legal Domicile

Principal Officer

SUSAN GILFERT

Tax Period

2023-01-01 to 2023-12-31

PAPER CIRCLE, founded in 2002, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $90K in total revenue in fiscal year 2023.

Mission

PRESERVATION OF PAPER MAKING AND EDUCATIONAL EVENTS FOR ELEMENTARY AGE CHILDREN.

Program Service Accomplishments

Program 1

Expenses: $94,299 Revenue: $89,941

ADVANCING THE ART OF PAPER MAKING AND SUPPORTING PRODUCT DEVELOPMENT

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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 $78,965

Program Service Revenue $10,570

Investment Income $0

Other Revenue $406

TOTAL REVENUE $89,941

Expense Breakdown

Grants Paid $2,000

Salaries & Benefits $53,182

Fundraising Expenses $2,398

Program Expenses $94,299

Other Expenses $39,117

TOTAL EXPENSES $94,299

Year-over-Year Comparison

	2023	2022	Change
Revenue	$89,941	$90,173	0.0%
Expenses	$94,299	$92,719	+0.0%
Net Income	$-4,358	$-2,546	+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

$19,215

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARA GILFERT	PRESIDENT	1	Officer Director	$0	$0	$0
MEGAN GILFERT	CO-SECRETARY	1	Officer Director	$0	$0	$0
DON ADLETA	DIRECTOR	1	Director	$0	$0	$0
TOM BALBO	DIRECTOR	1	Director	$0	$0	$0
KYLA RAFERT	CO-SECRETARY	1	Officer Director	$0	$0	$0
BARBARA ERY	EXECUTIVE DIR	20	Key Emp	$19,215	$0	$19,215
DREW SVOBODA	DIRECTOR	1	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	No data	No data	No data	No data
2023	$89,941	$94,299	$4,766	$-4,358
2022	$90,173	$92,719	$11,553	$-2,546
2021	$52,958	$79,171	$20,662	$-26,213
2020	$55,745	$49,288	$39,793	$6,457
2019	$80,667	$70,471	$32,794	$10,196
2018	$205,571	$217,835	$21,624	$-12,264