THE PROGRESSIVE INC

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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

1909

Legal Domicile

Principal Officer

NORMAN STOCKWELL

Phone

6082574626

Tax Period

2023-01-01 to 2023-12-31

THE PROGRESSIVE INC, founded in 1909, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. Expenses of $1.1M left a modest 6% surplus.

Mission

THE PROGRESSIVE, INC. PUBLISHES THE PROGRESSIVE MAGAZINE, DISTRIBUTES EDITORIAL MATERIAL TO LOCAL AND NATIONAL NEWSPAPERS, AND MAY ALSO PRODUCE EDUCATIONAL TELEVISION AND RADIO PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $334,649 Revenue: $0

EDITORIAL COSTS ENCOMPASS THE PERSONNEL EXPENSES OF THOSE WHO SELECT, EDIT, AND WRITE MATERIAL FOR THE MAGAZINE AND THE ASSOCIATED EXPENSES INVOLVED WITH SUPPORTING THOSE ACTIVITIES.

Program 2

Expenses: $285,211 Revenue: $66,958

CIRCULATION COSTS INCLUDE ALL RELATED PRINTING, DISTRIBUTING, AND PROMOTING COSTS OF THE PROGRESSIVE'S MONTHLY PUBLICATION, THE PROGRESSIVE, WHICH IS DISTRIBUTED TO APPROXIMATELY 30,000 SUBSCRIBERS...

Program 3

Expenses: $55,743

ART AND PRODUCTION COSTS INCLUDE THE DESIGN, LAYOUT, AND PREPARATION OF THE MAGAZINE EACH MONTH FOR PRINTING BY THE ART DIRECTOR AND THE ART ASSOCIATE.

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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 $1,061,230

Program Service Revenue $80,186

Investment Income $1,445

Other Revenue $22,398

TOTAL REVENUE $1,165,259

Expense Breakdown

Grants Paid $0

Salaries & Benefits $370,369

Fundraising Expenses $182,044

Program Expenses $698,856

Other Expenses $705,151

TOTAL EXPENSES $1,090,242

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,165,259	$1,280,469	-0.1%
Expenses	$1,090,242	$1,028,594	+0.1%
Net Income	$75,017	$251,875	-0.7%

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

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

$84,507

Total Directors

$158,712

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES FRIEDMAN	PRESIDENT	5.00	Officer Director	$0	$0	$0
WILLIAM WHITE	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
NORMAN STOCKWELL	PUBLISHER/SECRETARY	40.00	Officer Director	$74,217	$10,290	$84,507
DANIEL LIBBY	STAFF REPRESENTATIVE	40.00	Director	$66,373	$7,832	$74,205
MICHAEL APPLE	AT-LARGE MEMBER	5.00	Director	$0	$0	$0
ED ANGELINA	AT-LARGE MEMBER	5.00	Director	$0	$0	$0
MIMI GOLDBERG	AT-LARGE MEMBER	5.00	Director	$0	$0	$0
SUE COLLINS	AT-LARGE MEMBER	5.00	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	No data	No data	No data	No data
2023	$1,165,259	$1,090,242	$743,165	$75,017
2022	$1,280,469	$1,028,594	$624,202	$251,875
2021	$1,449,117	$923,630	$339,899	$525,487
2020	$939,233	$918,538	$43,151	$20,695
2019	$1,130,532	$992,453	$59,959	$138,079
2018	$974,607	$1,086,817	$33,555	$-112,210