FRIENDS OF LAKE FOREST PARKS & REC… - Form 990 Financial Data

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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

2000

Legal Domicile

Principal Officer

JACKIE GRECA

Phone

8472346700

Tax Period

2023-10-01 to 2024-09-30

FRIENDS OF LAKE FOREST PARKS & REC FOUNDATION, founded in 2000, is a community nonprofit in the Recreation & Sports sector that reported $1.5M in total revenue in fiscal year 2023. Revenue surged 511% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 91% operating margin.

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE FUNDS FOR PROGRAMS, FACILITIES AND EVENTS FOR THE LAKE FOREST PARKS AND RECREATION DEPARTMENT WHICH FALL OUSIDE THE CITY OF LAKE FOREST'S BUDGET.

Program Service Accomplishments

Program 1

Expenses: $57,412

TO PROVIDE OPERATING EXPENSE ASSISTANCE TO THE LAKE FOREST PARKS AND RECREATION DEPARTMENT FOR ITS BEACH WALKWAY PROJECT.

Program 2

Expenses: $16,561

TO PURCHASE SAILBOATS AND PROVIDE FINANCIAL SUPPORT TO THE LAKE FOREST PARKS AND RECREATION DEPARTMENT FOR ITS SAILING PROGRAM.

Program 3

Expenses: $11,234

TO PROVIDE PROGRAM SUPPLIES FOR THE KINDERHAVEN PRE-SCHOOL,

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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 $1,569,784

Program Service Revenue $0

Investment Income $1,817

Other Revenue $-78,586

TOTAL REVENUE $1,493,015

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $19,535

Program Expenses $99,000

Other Expenses $131,334

TOTAL EXPENSES $131,334

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,493,015	$244,299	+5.1%
Expenses	$131,334	$444,601	-0.7%
Net Income	$1,361,681	$-200,302	-7.8%

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACKIE GRECA	PRESIDENT	1.00	Officer Director	$0	$0	$0
NICOLE FABIANO-OERTEL	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BRIAN LARISEY	SECRETARY & TREASURER	1.00	Officer Director	$0	$0	$0
RICK AMOS	DIRECTOR	0.50	Director	$0	$0	$0
KENDALL WESTRICH DAVIS	DIRECTOR	0.50	Director	$0	$0	$0
FRED JACKSON	DIRECTOR	0.50	Director	$0	$0	$0
STEVE MALIN	DIRECTOR	0.50	Director	$0	$0	$0
MIKE MACDOUGAL	DIRECTOR	0.50	Director	$0	$0	$0
KEVIN MAGNUSON	DIRECTOR	0.50	Director	$0	$0	$0
JOHN OERTEL	DIRECTOR	0.50	Director	$0	$0	$0
PJ O'NEIL	DIRECTOR	0.50	Director	$0	$0	$0
ELIZABETH CHUNG-HALL	DIRECTOR	0.50	Director	$0	$0	$0
RICK ZIGLER	DIRECTOR	0.50	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	$1,493,015	$131,334	$1,918,604	$1,361,681
2023	$244,299	$444,601	$620,864	$-200,302
2022	$618,206	$503,505	$756,834	$114,701
2021	$433,092	$731,318	$990,377	$-298,226
2020	$607,019	$443,643	$920,645	$163,376
2019	$972,956	$1,367,137	$791,204	$-394,181
2018	$1,014,383	$467,580	$1,286,256	$546,803

FRIENDS OF LAKE FOREST PARKS & REC FOUNDATION