STATE STREET AREA 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

1986

Legal Domicile

Principal Officer

ANGELA HEFLIN

Phone

7346461500

Tax Period

2023-01-01 to 2023-12-31

STATE STREET AREA ASSOCIATION, founded in 1986, is a small nonprofit in the Community Improvement sector that reported $467K in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $409K left a modest 12% surplus.

Mission

PROMOTE THE ECONOMIC AND CIVIC HEALTH OF A SPECIFIC AREA OF DOWNTOWN ANN ARBOR, MICHIGAN

Program Service Accomplishments

Program 1

PROMOTION, ADVERTISNG, MARKETING IN THE STATE STREET AREA OF ANN ARBOR, MICHIGAN

Program 2

SPONSOR AN ART FAIR TO AATRACT PEOPLE TO DOWNTOWN ANN ARBOR, MICHIGAN

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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 $1,795

Program Service Revenue $464,746

Investment Income $219

Other Revenue $0

TOTAL REVENUE $466,760

Expense Breakdown

Grants Paid $0

Salaries & Benefits $132,621

Fundraising Expenses $0

Other Expenses $276,195

TOTAL EXPENSES $408,816

Year-over-Year Comparison

	2023	2022	Change
Revenue	$466,760	$401,731	+0.2%
Expenses	$408,816	$333,737	+0.2%
Net Income	$57,944	$67,994	-0.1%

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
ROBERT DASCOLA	DIRECTOR	N/A	Director	$0	$0	$0
AJ DAVIDSON	PRESIDENT	N/A	Officer Director	$0	$0	$0
AMY KARBO	DIRECTOR	N/A	Director	$0	$0	$0
DON KNIGHT	DIRECTOR	N/A	Director	$0	$0	$0
NICK LEMMER	DIRECTOR	N/A	Officer Director	$0	$0	$0
JEFF MORE	DIRECTOR	N/A	Director	$0	$0	$0
JENNIFER OLMSTEAD	DIRECTOR	N/A	Officer Director	$0	$0	$0
RANDY PARRISH	DIRECTOR	N/A	Director	$0	$0	$0
MIKE VAN PATTEN	VICE-PRESIDE	N/A	Director	$0	$0	$0
MICHAEL REIN	DIRECTOR	N/A	Director	$0	$0	$0
JIM SETA	DIRECTOR	N/A	Director	$0	$0	$0
JOHN SPLITT	TREASURER	N/A	Officer Director	$0	$0	$0
JOHN TEETER	DIRECTOR	N/A	Director	$0	$0	$0
LILLIANE WEBB	DIRECTOR	N/A	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$466,760	$408,816	$215,779	$57,944
2023	No data	No data	No data	No data
2023	No data	No data	No data	No data
2021	$270,307	$232,995	$86,093	$37,312
2020	$35,894	$144,695	$46,729	$-108,801
2019	$456,717	$440,752	$159,190	$15,965
2018	$369,486	$346,061	$138,891	$23,425