Fremont Area Foundation Inc

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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

Legal Domicile

Principal Officer

Brad Woleslagel

Phone

4193344468

Tax Period

2023-01-01 to 2023-12-31

Fremont Area Foundation Inc, founded in 2011, is a small nonprofit in the Education sector that reported $198K in total revenue in fiscal year 2023. The organization ran a surplus of $119K, a strong 60% operating margin.

Mission

Funds are raised to improve athletic facilities owned by public education entity in Fremont, Ohio

Program Service Accomplishments

Program 1

Expenses: $69,072

Funds are raised to improve athletic facilities owned by public education entity in Fremont, Ohio

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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 $80,373

Program Service Revenue $0

Investment Income $16,118

Other Revenue $101,156

TOTAL REVENUE $197,647

Expense Breakdown

Grants Paid $12,727

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $69,072

Other Expenses $66,008

TOTAL EXPENSES $78,735

Year-over-Year Comparison

	2023	2022	Change
Revenue	$197,647	$194,059	+0.0%
Expenses	$78,735	$46,510	+0.7%
Net Income	$118,912	$147,549	-0.2%

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

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
Scott Logan	Secretary	000.25	Officer Director	$0	$0	$0
Chad Berndt	Trustee	000.25	Director	$0	$0	$0
Steve Blue	Treasurer	000.25	Officer Director	$0	$0	$0
Hal Hawk	Trustee	000.25	Director	$0	$0	$0
Art Bucci	Trustee	000.25	Director	$0	$0	$0
Brad Woleslagel	President	000.25	Officer Director	$0	$0	$0
Paul Hershey	Vice President	000.25	Officer Director	$0	$0	$0
Jim Carmack	Trustee	000.25	Director	$0	$0	$0
Don Wennsinger	Trustee	000.25	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	$197,647	$78,735	$864,049	$118,912
2022	$194,059	$46,510	$677,858	$147,549
2021	$176,519	$71,486	$563,428	$105,033
2020	$170,259	$28,464	$560,832	$141,795
2019	$218,836	$34,546	$576,430	$184,290
2018	$220,819	$55,505	$534,585	$165,314