HARLEM LAKE MARION CORP

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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

1988

Legal Domicile

Principal Officer

SHANON WILLIAMS

Phone

7083834145

Tax Period

2023-01-01 to 2023-12-31

HARLEM LAKE MARION CORP, founded in 1988, is a small nonprofit that reported $931K in total revenue in fiscal year 2023.

Mission

TO CREATE AND SUPPORT A THRIVING AND VIBRANT BUSINESS ENVIRONMENT IN DOWNTOWN OAK PARK

Program Service Accomplishments

Program 1

Expenses: $790,031 Revenue: $888,884

THE ORGANIZATION PROVIDES ADVERTISING, PUBLIC RELATIONS, GROUNDS MAINTENANCE, AND GENERAL UPKEEP OF THE DOWNTOWN OAK PARK AREA FOR MEMBERS IN SPECIAL SERVICE AREA NUMBER 1 (SSA #1)

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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 $41,326

Program Service Revenue $888,795

Investment Income $472

Other Revenue $89

TOTAL REVENUE $930,682

Expense Breakdown

Grants Paid $0

Salaries & Benefits $227,743

Fundraising Expenses $0

Program Expenses $790,031

Other Expenses $693,617

TOTAL EXPENSES $921,360

Year-over-Year Comparison

	2023	2022	Change
Revenue	$930,682	$936,103	0.0%
Expenses	$921,360	$895,163	+0.0%
Net Income	$9,322	$40,940	-0.8%

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

$88,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSIE GOLDSCHMIDT	PRESIDENT	2.00	Officer Director	$0	$0	$0
MIKE FOX	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
JEFF LONG	TREASURER	2.00	Officer Director	$0	$0	$0
ERIN PAYTON	SECRETARY	2.00	Officer Director	$0	$0	$0
DAVID SCHRODT	DIRECTOR - ATTORNEY	2.00	Director	$0	$0	$0
PAUL BECKWITH	DIRECTOR	1.00	Director	$0	$0	$0
JIMMY CHEN	DIRECTOR	1.00	Director	$0	$0	$0
TINA SALERNO	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE VANDERLAAN	DIRECTOR	1.00	Director	$0	$0	$0
MIKE CARNEY	DIRECTOR	1.00	Director	$0	$0	$0
FRANK HEITZMAN	DIRECTOR	1.00	Director	$0	$0	$0
CAM DAVIS	DIRECTOR	1.00	Director	$0	$0	$0
SHANON WILLIAMS	EXECUTIVE DIRECTOR	40.00	Officer	$88,000	$0	$88,000

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	$930,682	$921,360	$715,372	$9,322
2022	$936,103	$895,163	$389,815	$40,940
2021	$750,935	$727,149	$288,732	$23,786
2020	$761,701	$681,335	$246,259	$80,366
2019	$929,593	$864,316	$151,225	$65,277
2018	$926,903	$862,479	$102,107	$64,424