Friends of National Guard & Reserve FamiliesInc DBA Military Friends Fnds

EIN: 371462599 501(c)(3) Philanthropy & Grantmaking

Swampscott, MA

Total Revenue
$1,332,899
Total Expenses
$1,005,206
Total Assets
$2,021,051
Net Assets
$1,985,383
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
MA
Principal Officer
SGM JAMES KELLY
Phone
8443578387
Tax Period
2023-01-01 to 2023-12-31

Friends of National Guard & Reserve FamiliesInc DBA Military Friends Fnds, founded in 2003, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $1.3M in total revenue in fiscal year 2023. Revenue surged 44% from the prior year, signaling strong growth momentum. The organization ran a surplus of $328K, a strong 25% operating margin.

Mission

THE MILITARY FRIENDS FOUNDATION RECOGNIZES THE UNIQUE CONTRIBUTIONS AND SACRIFICES MADE BY MASSACHUSETTS MILITARY AND FAMILIES OF THE FALLEN AND FIRST RESPONDERS. WE ARE PROUD TO OFFER DIRECT GRANT PROGRAMS, COMMUNITY SUPPORT EVENTS, CASE MANAGEMENT SERVICES AND MORE TO ELIGIBLE FAMILIES WHO HAVE FACED HARDSHIPS RELATED TO MILITARY SERVICE.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,319,569
Program Service Revenue $0
Investment Income $13,330
Other Revenue $0
TOTAL REVENUE $1,332,899

Expense Breakdown

Grants Paid $684,503
Salaries & Benefits $180,774
Fundraising Expenses $50,441
Program Expenses $836,270
Other Expenses $139,929
TOTAL EXPENSES $1,005,206

Year-over-Year Comparison

2023 2022 Change
Revenue $1,332,899 $928,265 +0.4%
Expenses $1,005,206 $836,912 +0.2%
Net Income $327,693 $91,353 +2.6%
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

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
4
Independent Members
4
Employees
2
Volunteers
250

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
4
$124,473
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SARAH SWEENEY EXEC DIR 40.00
Officer
$124,473 $0 $124,473
SGM JAMES KELLY PRESIDENT OIF Veteran 1.00
Officer Director
$0 $0 $0
CARLENE BARRETT TREASURER GoldStar Mother 1.00
Officer Director
$0 $0 $0
SGT MICHAEL SWEENEY SECRETARY OEF Veteran 1.00
Officer 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
2023 $1,332,899 $1,005,206 $2,021,051 $327,693
2022 $928,265 $836,912 $1,868,658 $91,353
2020 $958,371 $745,996 $1,514,947 $212,375
2019 $1,496,225 $840,865 $1,375,072 $655,360
2018 $1,109,448 $755,294 $1,104,212 $354,154
2017 $927,914 $693,075 $847,321 $234,839
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