Michigan Floral 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

1949

Legal Domicile

Principal Officer

Rodney Crittenden

Tax Period

2023-01-01 to 2023-12-31

Michigan Floral Association, founded in 1949, is a small nonprofit that reported $375K in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $336K left a modest 10% surplus.

Mission

Provide education and professional partnerships, which help to position the members of MFA at the forefront of the floral industry.

Program Service Accomplishments

Program 1

Expenses: $100,328

Membership Meetings. Bring together members of Michigans floral industry to exchange ideas, participate in education, and be exposed to new products and services. Conventions are attended by...

Membership Meetings. Bring together members of Michigans floral industry to exchange ideas, participate in education, and be exposed to new products and services. Conventions are attended by approximately 400 members annually.

Program 2

Expenses: $35,124

Michigan florist membership information. Published by the Michigan Floral Association six times a year for its members. The main goal is to educate, share news and communicate between staff, board...

Michigan florist membership information. Published by the Michigan Floral Association six times a year for its members. The main goal is to educate, share news and communicate between staff, board and members of MFA. Serves approximately 1,500.

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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 $0

Program Service Revenue $369,907

Investment Income $0

Other Revenue $4,703

TOTAL REVENUE $374,610

Expense Breakdown

Grants Paid $0

Salaries & Benefits $143,510

Fundraising Expenses $0

Program Expenses $135,452

Other Expenses $192,496

TOTAL EXPENSES $336,006

Year-over-Year Comparison

	2023	2022	Change
Revenue	$374,610	$333,957	+0.1%
Expenses	$336,006	$314,908	+0.1%
Net Income	$38,604	$19,049	+1.0%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Okar	Director	1.00	Director	$0	$0	$0
Elizabeth Ballien	Director	1.00	Director	$0	$0	$0
Derek Woodruff	Director	1.00	Director	$0	$0	$0
Cliff McClumpha	Director	1.00	Director	$0	$0	$0
Jerome Raska	Director	1.00	Director	$0	$0	$0
John Smith	Director	1.00	Director	$0	$0	$0
Bob Patterson	Director	1.00	Director	$0	$0	$0
Skeeter Parkhouse	Director	1.00	Director	$0	$0	$0
Michelle Herr	Director	1.00	Director	$0	$0	$0
Tim Galea	Treasurer	1.00	Officer Director	$0	$0	$0
Rodney Crittenden	EVPCEOSecretary	40.00	Officer Director Highest	$0	$0	$0
Teresa Cytlak	Immediate Past President	1.00	Officer Director	$0	$0	$0
Allison Ludema	Vice President	1.00	Officer Director	$0	$0	$0
Doug Vos	President	1.00	Officer Director	$0	$0	$0
Cindy Ching	Executive Assistant	40.00	Key Emp	$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	No data	No data	No data	No data
2023	$374,610	$336,006	$271,441	$38,604
2022	$333,957	$314,908	$239,092	$19,049
2021	$254,750	$240,745	$230,034	$14,005
2020	$334,978	$316,966	$205,742	$18,012
2019	$268,413	$268,444	$205,754	$-31
2018	$274,850	$261,175	$197,220	$13,675