HORTENSE FLANAGAN MEMORIAL SCHOLAR… - Form 990 Financial Data

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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

1960

Legal Domicile

Principal Officer

JERRY SARDINA

Phone

9062286088

Tax Period

2023-01-01 to 2023-12-31

HORTENSE FLANAGAN MEMORIAL SCHOLARSHIP C/O FIRST BANK OF UPPER MICHIGAN, founded in 1960, is a micro nonprofit in the Education sector that reported $12K in total revenue in fiscal year 2023. Revenue surged 254% from the prior year, signaling strong growth momentum. Net assets of $157K represent 158 months of operating reserves.

Mission

TO GRANT COLLEGE SCHOLARSHIPS TO GRADUATING SENIORS OF IRON MOUNTAIN PUBLIC SCHOOL.

Program Service Accomplishments

Program 1

Expenses: $8,625

THE ONLY ACTIVITY OF THE TRUST IS GRANTING COLLEGE SCHOLARSHIPS

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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 $0

Investment Income $11,942

Other Revenue $0

TOTAL REVENUE $11,942

Expense Breakdown

Grants Paid $8,625

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $8,625

Other Expenses $3,650

TOTAL EXPENSES $12,275

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,942	$3,378	+2.5%
Expenses	$12,275	$13,920	-0.1%
Net Income	$-333	$-10,542	-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

N/A

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
JERRY SARDINA	TRUSTEE	2.00	Director	$0	$0	$0
ROB LANGSFORD	TRUSTEE	2.00	Director	$0	$0	$0
AMY RYAN	TRUSTEE	2.00	Director	$0	$0	$0
JON HARRY	TRUSTEE	2.00	Director	$0	$0	$0
CAROL QUANDT	TRUSTEE	2.00	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
2023	$11,942	$12,275	$157,028	$-333
2022	$3,378	$13,920	$157,361	$-10,542
2021	$16,124	$15,349	$167,903	$775
2020	$7,469	$13,491	$167,128	$-6,022
2019	$9,323	$14,367	$173,150	$-5,044
2018	$12,792	$14,803	$178,194	$-2,011

HORTENSE FLANAGAN MEMORIAL SCHOLARSHIP C/O FIRST BANK OF UPPER MICHIGAN