FLOORING INDUSTRY ADVANCEMENT FOUN… - 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

1980

Legal Domicile

Principal Officer

RICH COOPER

Phone

3149683522

Tax Period

2024-10-01 to 2025-09-30

FLOORING INDUSTRY ADVANCEMENT FOUNDATION, founded in 1980, is a small nonprofit that reported $299K in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. The organization ran a surplus of $60K, a strong 20% operating margin.

Mission

TO ADVANCE THE FLOORING INDUSTRY THROUGH MARKET RESEARCH, DEVELOPMENT, FIELD EXPERIENCE, INFORMATIONAL AND PROMOTIONAL PROGRAMS.

Program Service Accomplishments

Program 1

FOUNDATION IS PROMOTING, IMPROVING, AND ADVANCING THE FLOORING INDUSTRY BY COORDINATING FIELD EXPERIENCE WITH TRAINING REQUIREMENTS AND ADVERTISING TO THE CONSUMER THE ADVANTAGES OF USING FOUNDATION...

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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 $0

Program Service Revenue $291,748

Investment Income $6,814

Other Revenue $0

TOTAL REVENUE $298,562

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $238,294

TOTAL EXPENSES $238,294

Year-over-Year Comparison

	2024	2023	Change
Revenue	$298,562	$316,249	-0.1%
Expenses	$238,294	$261,714	-0.1%
Net Income	$60,268	$54,535	+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

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
MIKE GOULD	TRUSTEE	0.50	Director	$0	$0	$0
DON PRINCE	TRUSTEE	0.50	Director	$0	$0	$0
RICH COOPER	CHAIRMAN/TRUSTEE	1.00	Director	$0	$0	$0
BRIAN MCGEE	TRUSTEE	0.50	Director	$0	$0	$0
ALEX VERSEMAN	TRUSTEE	0.50	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	$298,562	$238,294	$508,081	$60,268
2024	$316,249	$261,714	$447,813	$54,535
2023	$293,048	$286,078	$393,278	$6,970
2022	$270,651	$296,372	$386,308	$-25,721
2021	$218,939	$201,563	$412,029	$17,376
2020	$272,251	$190,307	$394,653	$81,944
2019	$285,701	$274,237	$324,007	$11,464
2018	$284,560	$304,187	$301,245	$-19,627

FLOORING INDUSTRY ADVANCEMENT FOUNDATION