FRIENDSHIP HAVEN INC (EIN 420698245) - Form 990 Financial Analysis & Trantor Score

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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

1946

Legal Domicile

Principal Officer

JULIE THORSON

Phone

5155736018

Tax Period

2024-01-01 to 2024-12-31

FRIENDSHIP HAVEN INC, founded in 1946, is a mid-sized nonprofit in the Housing & Shelter sector that reported $26.3M in total revenue in fiscal year 2024. Expenses of $25.4M left a modest 4% surplus.

Mission

OFFERING INNOVATIVE AND RESPONSIVE SERVICES FOR AGING ADULTS.

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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 $633,633

Program Service Revenue $25,361,977

Investment Income $242,436

Other Revenue $66,111

TOTAL REVENUE $26,304,157

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,111,952

Fundraising Expenses $8,456

Program Expenses $21,851,316

Other Expenses $10,255,086

TOTAL EXPENSES $25,367,038

Year-over-Year Comparison

	2024	2023	Change
Revenue	$26,304,157	$25,418,285	+0.0%
Expenses	$25,367,038	$24,097,910	+0.1%
Net Income	$937,119	$1,320,375	-0.3%

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

Employees

550

Volunteers

120

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

$468,528

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIE THORSON	PRESIDENT/CE	40.00	Officer	$223,227	$36,868	$260,095
KALLEEN ENGELS	COFO	40.00	Officer	$172,109	$36,324	$208,433
NICOLE CONRAD	PHARMACIST	40.00	Highest	$172,276	$4,471	$176,747
ERIN HOVERSTEN-MAJEWSKI	ADMINISTRATO	40.00	Highest	$130,707	$38,821	$169,528
KELLY HINDMAN	CAMPUS DIREC	40.00	Highest	$114,944	$32,983	$147,927
ALMA CASTANEDA	PHYSICAL THE	40.00	Highest	$129,495	$12,953	$142,448
MINDY DERRIG	CONTROLLER	40.00	Highest	$119,103	$3,263	$122,366
TROY ANDERSON	DIRECTOR	1.00	Director	$0	$0	$0
MATT BEMRICH	DIRECTOR	1.00	Director	$0	$0	$0
TIM BURNS	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ENGLER	DIRECTOR	1.00	Director	$0	$0	$0
LUKE FILLMORE	DIRECTOR	1.00	Director	$0	$0	$0
LINDSAY HEFFERNAN	DIRECTOR	1.00	Director	$0	$0	$0
SHARON HOTZ	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MICHELLE JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
RICKI OSBORN-STUBBS	DIRECTOR	1.00	Director	$0	$0	$0
BOB SINGER	DIRECTOR	1.00	Director	$0	$0	$0
LINDA WHALEY	DIRECTOR	1.00	Director	$0	$0	$0
MATT JOHNSON	CHAIR	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
2024	$26,304,157	$25,367,038	$52,725,482	$937,119
2023	$25,418,285	$24,097,910	$52,774,407	$1,320,375
2022	$21,448,964	$21,825,410	$50,852,514	$-376,446
2021	$22,390,428	$20,708,892	$50,931,455	$1,681,536
2020	$21,289,552	$22,356,070	$51,930,981	$-1,066,518
2019	$20,680,141	$21,266,867	$53,737,746	$-586,726
2018	$20,772,117	$20,512,392	$55,019,801	$259,725

FRIENDSHIP HAVEN INC