LOCAL FIRST OF WEST MICHIGAN (EIN 372042023) - Form 990 Financial Analysis & Trantor Score

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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

CARLOS MARTINEZ

Phone

6168083788

Tax Period

2024-01-01 to 2024-12-31

LOCAL FIRST OF WEST MICHIGAN, founded in 2004, is a small nonprofit in the Community Improvement sector that reported $594K in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $538K left a modest 9% surplus.

Mission

TO PROVIDE BUSINESS EDUCATION, MENTORING, AND NETWORKING

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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 (2024)

Revenue Breakdown

Contributions & Grants $172,831

Program Service Revenue $411,757

Investment Income $0

Other Revenue $9,095

TOTAL REVENUE $593,683

Expense Breakdown

Grants Paid $0

Salaries & Benefits $491,888

Fundraising Expenses $0

Other Expenses $45,620

TOTAL EXPENSES $537,508

Year-over-Year Comparison

	2024	2023	Change
Revenue	$593,683	$645,889	-0.1%
Expenses	$537,508	$592,322	-0.1%
Net Income	$56,175	$53,567	+0.0%

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

N/A

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

$100,061

Total Directors

$100,061

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TAMMY KARAS	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
CHRISTINE LINDEMAN	PRESIDENT	1.00	Officer Director	$0	$0	$0
CARLOS MARTINEZ	TREASURER	40.00	Officer Director	$89,687	$10,374	$100,061
PABLO GARCIA	SECRETARY	1.00	Officer Director	$0	$0	$0
SETH GETZ	BOARD MEMBER	1.00	Director	$0	$0	$0
JASON WHEELER	BOARD MEMBER	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
2024	$593,683	$537,508	$60,751	$56,175
2023	$645,889	$592,322	$23,980	$53,567
2022	$384,531	$530,552	$53,078	$-146,021
2021	$505,347	$402,905	$167,932	$102,442
2020	$419,071	$356,544	$131,859	$62,527
2019	$376,763	$416,080	$77,436	$-39,317
2018	$306,349	$456,464	$43,774	$-150,115

LOCAL FIRST OF WEST MICHIGAN