BAY HARBOR FOUNDATION

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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

2004

Legal Domicile

Principal Officer

JASON ALLEN

Phone

2314392700

Tax Period

2023-01-01 to 2023-12-31

BAY HARBOR FOUNDATION, founded in 2004, is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $57K in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Expenses of $63K exceeded revenue, resulting in a 12% operating deficit.

Mission

BAY HARBOR FOUNDATION, IN CLOSE HARMONY WITH ITS MEMBERS, DEDICATED ITSELF TO PROVIDE ASSISTANCE TO NOT FOR PROFIT CULTURAL, SOCIAL SERVICE AND ARTS BASED ORGANIZATIONS IN NORTHERN MICHIGAN GEOGRAPHIC FOCUS AREA.

Program Service Accomplishments

Program 1

Expenses: $10,562

AWARDED GRANTS TO OTHER NON-PROFIT ORGANIZATIONS TO SUPPORT THEIR EXEMPT PURPOSES.

Program 2

Expenses: $32,693

AWARDED SCHOLARSHIPS TO QUALIFYING STUDENTS TO ATTEND COLLEGES.

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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 $49,097

Program Service Revenue $0

Investment Income $7,456

Other Revenue $0

TOTAL REVENUE $56,553

Expense Breakdown

Grants Paid $23,815

Salaries & Benefits $22,114

Fundraising Expenses $8,655

Program Expenses $43,255

Other Expenses $17,297

TOTAL EXPENSES $63,226

Year-over-Year Comparison

	2023	2022	Change
Revenue	$56,553	$61,203	-0.1%
Expenses	$63,226	$60,785	+0.0%
Net Income	$-6,673	$418	-17.0%

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

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

$8,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES RAMER	DIRECTOR	1.00	Director	$0	$0	$0
DAVID JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
SCOT MORRISON	DIRECTOR	1.00	Director	$0	$0	$0
JUDY PHILLIPS	DIRECTOR	1.00	Director	$0	$0	$0
KATHY ABRASH	DIRECTOR	1.00	Director	$0	$0	$0
JASON ALLEN	CHAIRMAN	5.00	Officer Director	$0	$0	$0
CLAYTON WALDORF	VICE CHAIRMAN	5.00	Officer Director	$0	$0	$0
RODNEY PHILLIPS	TREASURER	5.00	Officer Director	$0	$0	$0
CANDACE FITZSIMONS	EXECUTIVE DIRECTOR	26.00	Officer	$8,000	$0	$8,000

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
2023	$56,553	$63,226	$588,280	$-6,673
2022	$61,203	$60,785	$526,430	$418
2021	$170,111	$125,359	$608,872	$44,752
2020	$121,545	$114,260	$521,327	$7,285
2019	$233,624	$218,191	$471,282	$15,433
2018	$207,550	$208,793	$402,295	$-1,243