FRIENDS OF LUDINGTON STATE PARK

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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

1992

Legal Domicile

Principal Officer

JOHN SAVAGE

Tax Period

2025-01-01 to 2025-12-31

FRIENDS OF LUDINGTON STATE PARK, founded in 1992, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $257K in total revenue in fiscal year 2025. The organization ran a surplus of $208K, a strong 81% operating margin.

Mission

FLSP was established May 25, 1992 and functions privately, as a non-profit 501(c)(3) organization, to promote the wise use and conservation of the Ludington State Park, one of the most beautiful state parks ever.

Program Service Accomplishments

Program 1

Expenses: $48,976

Programs to support and improve the park within the bounds of limits set up by the State. Our programs are designed to promote and enhance park operations.

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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 (2025)

Revenue Breakdown

Contributions & Grants $11,676

Program Service Revenue $236,756

Investment Income $2,789

Other Revenue $5,729

TOTAL REVENUE $256,950

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $48,976

Other Expenses $48,976

TOTAL EXPENSES $48,976

Year-over-Year Comparison

	2025	2024	Change
Revenue	$256,950	N/A	N/A
Expenses	$48,976	N/A	N/A
Net Income	$207,974	N/A	N/A

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

N/A

Independent Members

N/A

Employees

Volunteers

100

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
MARY ANNE REINER	DIRECTOR	0.00	Director	$0	$0	$0
BOB SASIN	DIRECTOR	0.00	Director	$0	$0	$0
JIM GALLIE	MANAGER	0.00	Director	$0	$0	$0
DAN ADAMS	SUPERVISOR	0.00	Director	$0	$0	$0
CORINNE ROGERS	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL GAUDETTE	DIRECTOR	0.00	Director	$0	$0	$0
BERNADETTE SEIM-BARNES	DIRECTOR	0.00	Director	$0	$0	$0
JOHN SAVAGE	TREASURER	0.00	Officer Director	$0	$0	$0
PATRICK OHARE	PRESIDENT	0.00	Officer	$0	$0	$0
GARY HEARING	VICE PRESIDENT	0.00	Officer	$0	$0	$0
NANCY HESTING	DIRECTOR	0.00	Officer	$0	$0	$0
MARGARET GRAMAS	SECRETARY	1.00	Officer	$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	$256,950	$48,976	$348,930	$207,974