WESTEDGE FOUNDATION INC (EIN 451998194) - 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

2011

Legal Domicile

Principal Officer

MATTHEW FROHLICH

Phone

8435341484

Tax Period

2024-07-01 to 2025-06-30

WESTEDGE FOUNDATION INC, founded in 2011, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2024. Revenue fell 86% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $805K, a strong 53% operating margin.

Mission

TO SUPPORT THE CITY OF CHARLESTON AND THE MEDICAL UNIVERSITY OF SOUTH CAROLINA AND THE MEDICAL UNIVERSITY OF SOUTH CAROLINA 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 $1,028,926

Program Service Revenue $0

Investment Income $484,596

Other Revenue $0

TOTAL REVENUE $1,513,522

Expense Breakdown

Grants Paid $0

Salaries & Benefits $418,332

Fundraising Expenses $0

Program Expenses $393,918

Other Expenses $290,260

TOTAL EXPENSES $708,592

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,513,522	$10,714,253	-0.9%
Expenses	$708,592	$942,768	-0.2%
Net Income	$804,930	$9,771,485	-0.9%

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

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

$233,224

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CM WILLIAM D GREGORIE	CITY-APPOINTED	0.50	Director	$0	$0	$0
MAYOR WILLIAM COGSWELL	CITY-APPOINTED	1.00	Director	$0	$0	$0
LOGAN MCVEY	CITY-APPOINTED	0.30	Director	$0	$0	$0
STUART AMES	MUSCF-APPOINTED	1.50	Director	$0	$0	$0
RICK ANDERSON	MUSCF-APPOINTED BEG 1/1/25	0.30	Director	$0	$0	$0
DAWN HARTSELL	MUSCF-APPOINTED BEG 1/1/25	0.30	Director	$0	$0	$0
JESSICA PAUL	MUSCF-APPOINTED THRU 1/1/25	0.30	Director	$0	$0	$0
CAROLINE BROWN	MUSCF-APPOINTED THRU 1/1/25	0.30	Director	$0	$0	$0
GARRY LESESNE	AT-LARGE	0.30	Director	$0	$0	$0
KEVIN LUZAK	AT-LARGE	0.30	Director	$0	$0	$0
CHERYL KAYNARD	AT-LARGE	0.50	Director	$0	$0	$0
MATT FROHLICH	CHAIR (CITY-APPOINTED)	2.00	Officer Director	$0	$0	$0
ROBYN FRAMPTON	VICE CHAIR & TREASURER (MUSCF-APPOINTED)	1.50	Officer Director	$0	$0	$0
JOE MCDONALD	SECRETARY (AT-LARGE)	1.00	Officer Director	$0	$0	$0
MICHAEL MAHER	CEO - THROUGH 3/30/25	40.00	Officer	$229,660	$3,564	$233,224

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	$1,513,522	$708,592	$13,519,191	$804,930
2024	$10,714,253	$942,768	$12,819,959	$9,771,485
2023	$840,428	$1,488,436	$13,690,092	$-648,008
2022	$804,235	$1,742,698	$15,433,566	$-938,463
2021	$18,669,032	$21,032,636	$16,981,609	$-2,363,604
2020	$2,823	$1,710,882	$19,987,053	$-1,708,059
2019	$2,739	$942,098	$19,506,941	$-939,359
2018	$5,182,469	$572,040	$17,643,856	$4,610,429

WESTEDGE FOUNDATION INC