THE FURNITURE RESOURCE CENTER

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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

1971

Legal Domicile

Principal Officer

JASON MILLER

Phone

2483321300

Tax Period

2024-01-01 to 2024-12-31

THE FURNITURE RESOURCE CENTER, founded in 1971, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year.

Mission

TO PROVIDE BEDS AND FURNITURE TO CHILDREN AND FAMILIES IN NEED.

Program Service Accomplishments

Program 1

Expenses: $1,677,795 Revenue: $613,850

IN 2024, THE FURNITURE BANK PROVIDED 2,028 FAMILIES WITH 17,036 ITEMS CONSERVATIVELY VALUED AT 962,851. IN TOTAL, WE SERVED 4,736 INDIVIDUALS: 1,898 ADULTS AND 2,838 CHILDREN. 1,405 FAMILIES WERE...

IN 2024, THE FURNITURE BANK PROVIDED 2,028 FAMILIES WITH 17,036 ITEMS CONSERVATIVELY VALUED AT 962,851. IN TOTAL, WE SERVED 4,736 INDIVIDUALS: 1,898 ADULTS AND 2,838 CHILDREN. 1,405 FAMILIES WERE REFERRED TO OUR FURNITURE FOR FAMILIES PROGRAM AND RECEIVED 15,078 ITEMS VALUED AT 823,742. AN ADDITIONAL 665 FAMILIES BENEFITED FROM OUR FREE COMMUNITY AREA, RECEIVING 1,995 ITEMS VALUED AT 140,784 FOR NO CHARGE. THIS INCLUDES 1,537 MATTRESSES, 1,342 BOX SPRINGS, 1,288 DRESSERS, 729 DINING TABLES, 2,975 DINING CHAIRS, 993 SOFAS, 1,849 PIECES OF LIVING ROOM FURNITURE AND 4,365 OTHER HOUSEHOLD ITEMS. SEVENTY-NINE PERCENT (79%) OF THE FAMILIES WE SERVED REPORTED AN ANNUAL HOUSEHOLD INCOME OF 20,000 OR LESS. FIFTY-FIVE PERCENT (55%) REPORTED AN ANNUAL HOUSEHOLD INCOME OF UNDER 10,000. OUR TRUCKS PICKED UP FURNITURE FROM THE HOMES OF 4,027 FURNITURE DONORS. WE ALSO PROVIDED NO- OR LOW-COST FURNITURE DELIVERIES TO THE HOMES OF 706 FAMILIES IN CONJUNCTION WITH OUR NONPROFIT PARTNERS.

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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 $1,223,212

Program Service Revenue $613,850

Investment Income $18,371

Other Revenue $14,706

TOTAL REVENUE $1,870,139

Expense Breakdown

Grants Paid $815,262

Salaries & Benefits $633,643

Fundraising Expenses $102,515

Program Expenses $1,677,795

Other Expenses $429,793

TOTAL EXPENSES $1,878,698

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,870,139	$2,090,400	-0.1%
Expenses	$1,878,698	$2,094,166	-0.1%
Net Income	$-8,559	$-3,766	+1.3%

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

$48,462

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DIANE CHARLES	PRESIDENT &	40.00	Officer	$48,462	$0	$48,462
DAVE ZICK	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
ALEX SCHWALLBACH	BOARD VICE C	1.00	Officer Director	$0	$0	$0
JASON MILLER	TREASURER	1.00	Director	$0	$0	$0
CHRIS RICHARDS	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN ALBRECHT	DIRECTOR	1.00	Director	$0	$0	$0
BETH BEAL	DIRECTOR	1.00	Director	$0	$0	$0
JILL GLEBA	DIRECTOR	1.00	Director	$0	$0	$0
STEVE MATTAR	DIRECTOR	1.00	Director	$0	$0	$0
BRUCE GLEBA	DIRECTOR	1.00	Officer Director	$0	$0	$0
KEITH JELINEK	DIRECTOR	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	$1,870,139	$1,878,698	$619,559	$-8,559
2023	$2,090,400	$2,094,166	$628,254	$-3,766
2022	$1,795,379	$1,881,491	$650,986	$-86,112
2021	$1,525,670	$1,454,153	$681,599	$71,517
2020	$1,524,993	$1,367,171	$588,180	$157,822
2019	$1,490,243	$1,550,346	$440,204	$-60,103
2018	$1,219,555	$1,226,818	$504,596	$-7,263