FRIENDLY INN SETTLEMENT INC

EIN: 340714413 501(c)(3) Human Services

CLEVELAND, OH

Total Revenue
$1,788,681
Total Expenses
$2,124,532
Total Assets
$4,856,451
Net Assets
$4,444,901
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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
1874
Legal Domicile
OH
Principal Officer
YOLANDA ARMSTRONG
Phone
2164317656
Tax Period
2023-01-01 to 2023-12-31

FRIENDLY INN SETTLEMENT INC, founded in 1874, is a community nonprofit in the Human Services sector that reported $1.8M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $2.1M exceeded revenue, resulting in a 19% operating deficit.

Mission

TO IMPROVE THE QUALITY OF LIFE BY CULTIVATING, PLANTING, AND NURTURING INDIVIDUALS, FAMILIES AND COMMUNITIES TO MAKE A DIFFERENCE IN THE WORLD.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,073,965
Program Service Revenue $510,772
Investment Income $26,751
Other Revenue $177,193
TOTAL REVENUE $1,788,681

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,280,885
Fundraising Expenses $0
Program Expenses $1,314,425
Other Expenses $843,647
TOTAL EXPENSES $2,124,532

Year-over-Year Comparison

2023 2022 Change
Revenue $1,788,681 $1,559,935 +0.1%
Expenses $2,124,532 $1,888,257 +0.1%
Net Income $-335,851 $-328,322 +0.0%
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

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Governance

Voting Members
15
Independent Members
15
Employees
42
Volunteers
225

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
3
$0
Total Directors
15
$119,943
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
YOLANDA ARMSTRONG EXECUTIVE DI 40.00
Director
$119,943 $0 $119,943
ROBERT BANKSTON BOARD MEMBER N/A
Director
$0 $0 $0
TYANNA BLANCHARD BOARD MEMBER N/A
Director
$0 $0 $0
RHONDA CROWDER VICE PRESIDE N/A
Director
$0 $0 $0
TIFFANY DARBY BOARD MEMBER N/A
Director
$0 $0 $0
LATONIA DAVIS BOARD MEMBER N/A
Director
$0 $0 $0
CHARISE DAWSON SECRETARY N/A
Officer Director
$0 $0 $0
BELINDA HARRIS BOARD MEMBER N/A
Director
$0 $0 $0
BRUNETTA HARRIS BOARD MEMBER N/A
Director
$0 $0 $0
DR DAVID COBB JR BOARD MEMBER N/A
Director
$0 $0 $0
DUSTIN KLEIN PRESIDENT N/A
Officer Director
$0 $0 $0
TERENNA MARKS BOARD MEMBER N/A
Director
$0 $0 $0
DR MAUREEN MITCHELL BOARD MEMBER N/A
Director
$0 $0 $0
TYSON MITCHELL TREASURER N/A
Officer Director
$0 $0 $0
TAMEKA TAYLOR BOARD MEMBER N/A
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 $1,788,681 $2,124,532 $4,856,451 $-335,851
2022 $1,559,935 $1,888,257 $5,241,441 $-328,322
2021 $2,423,639 $2,293,198 $5,679,767 $130,441
2020 $2,644,946 $2,347,767 $5,546,433 $297,179
2019 $2,834,536 $2,682,252 $5,299,453 $152,284
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