DOWNTOWN WHEATON ASSOCIATION

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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

1993

Legal Domicile

Principal Officer

BRIAN BARE

Phone

6306820633

Tax Period

2023-01-01 to 2023-12-31

DOWNTOWN WHEATON ASSOCIATION, founded in 1993, is a small nonprofit that reported $638K in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum.

Mission

PROMOTE AND FURTHER THE VIABILITY OF THE DOWNTOWN BUSINESS COMMUNITY IN WHEATON, ILLINOIS.

Program Service Accomplishments

Program 1

Expenses: $526,024 Revenue: $638,364

SPECIAL EVENTS SUCH AS VINTAGE CAR SHOWS, ART FAIR, AND HOLIDAY EVENTS SERVE THE OVERALL BUSINESS COMMUNITY BY ATTRACTING CUSTOMERS TO THE DOWNTOWN AREA AND PROMOTE THE BUSINESSES IN DOWNTOWN...

SPECIAL EVENTS SUCH AS VINTAGE CAR SHOWS, ART FAIR, AND HOLIDAY EVENTS SERVE THE OVERALL BUSINESS COMMUNITY BY ATTRACTING CUSTOMERS TO THE DOWNTOWN AREA AND PROMOTE THE BUSINESSES IN DOWNTOWN WHEATON, MOST OF WHICH ARE MEMBERS OF THE ASSOCIATION.

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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 $178,315

Program Service Revenue $181,334

Investment Income $3,814

Other Revenue $274,901

TOTAL REVENUE $638,364

Expense Breakdown

Grants Paid $0

Salaries & Benefits $217,196

Fundraising Expenses $0

Program Expenses $526,024

Other Expenses $447,345

TOTAL EXPENSES $664,541

Year-over-Year Comparison

	2023	2022	Change
Revenue	$638,364	$531,527	+0.2%
Expenses	$664,541	$519,323	+0.3%
Net Income	$-26,177	$12,204	-3.1%

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

Total Directors

$98,483

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALLISON ORR	EXECUTIVE DI	60.00	Director	$98,483	$0	$98,483
BETSY ADAMOWSKI	EX-OFFICIO	1.00	Director	$0	$0	$0
CHERYL ARMSTRONG	TREASURER	3.00	Officer Director	$0	$0	$0
VICKIE AUSTIN	EX-OFFICIO	1.00	Director	$0	$0	$0
BRIAN BARE	PRESIDENT	3.00	Officer Director	$0	$0	$0
WILLIAM BARRETT	DIRECTOR	1.00	Director	$0	$0	$0
MIKE BENARD	EX-OFFICIO	1.00	Director	$0	$0	$0
SUSAN BISHEL	EX-OFFICIO	1.00	Director	$0	$0	$0
VAN DILLENKOFFER	EX-OFFICIO	1.00	Director	$0	$0	$0
ALEXIS HELLER	DIRECTOR	1.00	Director	$0	$0	$0
JIM KOZIK	EX-OFFICIO	1.00	Director	$0	$0	$0
GUS LEVENTIS	SECRETARY	3.00	Officer Director	$0	$0	$0
MATT MARQUEZ	DIRECTOR	1.00	Director	$0	$0	$0
JIM MATHIESON	DIRECTOR	1.00	Director	$0	$0	$0
MARGO MCCOLLISTER	DIRECTOR	1.00	Director	$0	$0	$0
KATHY MEYER	SECRETARY	3.00	Officer Director	$0	$0	$0
CRYSTAL MIROBALLI	EX-OFFICIO	1.00	Director	$0	$0	$0
DICK O'GORMAN	DIRECTOR	1.00	Director	$0	$0	$0
SAMANTHA RAFTERY	DIRECTOR	1.00	Director	$0	$0	$0
LYNN ROBBINS	DIRECTOR	1.00	Director	$0	$0	$0
MASSIMO SALATINO	DIRECTOR	1.00	Director	$0	$0	$0
VANESSA STANG	IMME. PAST P	1.00	Officer Director	$0	$0	$0
LISA UPHAM	DIRECTOR	1.00	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$638,364	$664,541	$193,809	$-26,177
2022	$531,527	$519,323	$225,422	$12,204
2021	$536,051	$570,634	$196,948	$-34,583
2020	$606,929	$583,471	$213,015	$23,458
2019	$376,119	$344,309	$139,548	$31,810
2018	$322,447	$308,163	$62,854	$14,284