TIMELESS GIFTS

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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

2012

Legal Domicile

Principal Officer

Joan Collaso

Phone

3122081119

Tax Period

2024-01-01 to 2024-12-31

TIMELESS GIFTS, founded in 2012, is a small nonprofit in the Arts, Culture & Humanities sector that reported $102K in total revenue in fiscal year 2024. Revenue fell 65% from the prior year — a significant decline worth monitoring. Expenses of $175K exceeded revenue, resulting in a 71% operating deficit.

Mission

To positively impact the lives of aspiring youth performers through mentoring and instructing to encourage and perpetuate creativity, confidence and professional etiquette while providing avenues for artistic growth and exposure.

Program Service Accomplishments

Program 1

Expenses: $22,884 Revenue: $0

Mentoring - Professional adult musicians and performers mentored and instructed aspiring youth musicians and performers.

Program 2

Expenses: $17,492 Revenue: $23,152

Production - Christmas Concert was produced and executed.

Program 3

Expenses: $5,831 Revenue: $9,757

Production - Summer 2024 concert was produced and executed.

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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 $63,950

Program Service Revenue $35,679

Investment Income $0

Other Revenue $2,685

TOTAL REVENUE $102,314

Expense Breakdown

Grants Paid $0

Salaries & Benefits $100,612

Fundraising Expenses $0

Program Expenses $174,649

Other Expenses $74,037

TOTAL EXPENSES $174,649

Year-over-Year Comparison

	2024	2023	Change
Revenue	$102,314	$295,896	-0.7%
Expenses	$174,649	$344,732	-0.5%
Net Income	$-72,335	$-48,836	+0.5%

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

N/A

Employees

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

$93,200

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Joan Walton Collaso	Executive Director	30	Key Emp Highest	$55,200	$0	$55,200
Rayzine Collaso	Executive Assistant	30	Key Emp	$38,000	$0	$38,000
Dr Diane Damper	Trustee	2	Director	$0	$0	$0
Megon Washington Hill	Trustee	1	Director	$0	$0	$0
Jessica Walton	Trustee	3	Director	$0	$0	$0
Georgette Greenlee	Trustee	1	Director	$0	$0	$0
Pam Oliver	Trustee	1	Director	$0	$0	$0
Randell Phillips	Secretary	2	Officer	$0	$0	$0
Gertrude Ricks	Treasurer	4	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	$102,314	$174,649	$70,390	$-72,335
2023	$295,896	$344,732	$152,114	$-48,836
2022	$360,333	$247,416	$200,946	$112,917
2021	$136,298	$152,998	$88,029	$-16,700
2020	$108,407	$63,884	$104,729	$44,523
2019	$41,516	$45,850	$62,991	$-4,334