CLEVELAND ROWING FOUNDATION

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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

1989

Legal Domicile

Principal Officer

LESLIE THOMAS

Phone

3307014867

Tax Period

2024-01-01 to 2024-12-31

CLEVELAND ROWING FOUNDATION, founded in 1989, is a small nonprofit that reported $468K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $446K left a modest 5% surplus.

Mission

TO SUPPORT, FACILITATE, AND PROMOTE THE SPORT OF ROWING AND ITS BENEFITS TO THE COMMUNITY THROUGH ITS PROGRAMS, EVENTS AND AN AFFILIATED ORGANIZATION.

Program Service Accomplishments

Program 1

Revenue: $372,647

THE PROMOTION AND SUPPORT OF THE ROWING COMMUNITY IN CLEVELAND, OH.

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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 $93,405

Program Service Revenue $372,647

Investment Income $2,056

Other Revenue $0

TOTAL REVENUE $468,108

Expense Breakdown

Grants Paid $0

Salaries & Benefits $170,276

Fundraising Expenses $1,703

Program Expenses $395,546

Other Expenses $275,430

TOTAL EXPENSES $445,706

Year-over-Year Comparison

	2024	2023	Change
Revenue	$468,108	$428,812	+0.1%
Expenses	$445,706	$391,423	+0.1%
Net Income	$22,402	$37,389	-0.4%

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

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

$54,577

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM KOZACK	TRUSTEE	2.00	Director	$0	$0	$0
KRISTEN RUNNER	TRUSTEE	2.00	Director	$0	$0	$0
KATIE TOLLES	TRUSTEE	2.00	Director	$0	$0	$0
JEN FORBES	EXECUTIVE DI	40.00	Officer	$54,577	$0	$54,577
LESLIE THOMAS	TREASURER	4.00	Officer Director	$0	$0	$0
MICHELLE FOX	SECRETARY	2.00	Officer Director	$0	$0	$0
PAT CONNOR	VICE CHAIR	2.00	Officer Director	$0	$0	$0
BRIDGET MAHONEY	TRUSTEE	2.00	Director	$0	$0	$0
SUE TYLER	BOARD CHAIR	4.00	Officer Director	$0	$0	$0
JULIE TROTT-HEISEY	TRUSTEE	2.00	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	$468,108	$445,706	$3,023,628	$22,402
2023	$428,812	$391,423	$3,051,875	$37,389
2023	$428,812	$391,423	$3,051,875	$37,389
2022	$402,053	$384,037	$3,092,438	$18,016
2021	$447,526	$368,437	$3,119,589	$79,089
2020	$335,987	$359,721	$3,070,037	$-23,734
2019	$429,524	$400,219	$3,310,320	$29,305
2018	$390,287	$359,348	$3,311,662	$30,939