LAKE HOPATCONG FOUNDATION

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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

MARTIN KANE

Phone

9736632500

Tax Period

2023-01-01 to 2023-12-31

LAKE HOPATCONG FOUNDATION, founded in 2012, is a small nonprofit in the Recreation & Sports sector that reported $700K in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Expenses of $674K left a modest 4% surplus.

Mission

FOCUSING ON ENHANCING THE LAKE HOPATCONG ENVIRONMENT AND EXPERIENCE, WITH EFFORTS THAT INCLUDE WATER QUALITY, PUBLIC SAFETY, LAKE EDUCATION, COMMUNITY COHESIVENESS, HISTORICAL PRESERVATION, ENVIRONMENTAL PROTECTION, PUBLIC INFORMATION, AND ARTS AND CULTURE.

Program Service Accomplishments

Program 1

Expenses: $448,715 Revenue: $105,696

EDUCATIONAL OUTREACH/PUBLIC INFORMATION SERVICES - IMPLEMENT OUTREACH PROGRAMS ON AQUATIC INVASIVE SPECIES PROTECTION AND LAKE ECOLOGY, ENVIRONMENTAL EDUCATION FIELD TRIPS AND PUBLIC EDUCATION...

EDUCATIONAL OUTREACH/PUBLIC INFORMATION SERVICES - IMPLEMENT OUTREACH PROGRAMS ON AQUATIC INVASIVE SPECIES PROTECTION AND LAKE ECOLOGY, ENVIRONMENTAL EDUCATION FIELD TRIPS AND PUBLIC EDUCATION CRUISES, PUBLIC SAFETY, AND B-SAFE DOCK NUMBER PROGRAMS.COMMUNITY - BUILD A SENSE OF LAKE COMMUNITY AND SUPPORT LOCAL BUSINESSES THAT SURROUND IT THROUGH THE ANNUAL LAKE HOPATCONG BLOCK PARTY. IMPROVE AND ENHANCE RECREATIONAL OPPORTUNITIES BY OFFERING GUIDED HIKING AND PADDLE TRIPS AND MAINTAIN 11 MILES OF THE LAKE HOPATCONG TRAIL AND WORKING TO EXPAND THE TRAIL TO BE 40 MILES AROUND LAKE HOPATCONG. ENVIRONMENTAL AND CULTURAL CENTER - RESTORE AND RE PURPOSE THE HISTORICAL LAKE HOPATCONG TRAIN STATION IN LANDING FOR USE AS THE LAKE HOPATCONG CULTURAL ENVIRONMENTAL CENTER OFFERING COMMUNITY PROGRAMING AND TO SERVE AS THE OFFICE FOR THE LAKE HOPATCONG FOUNDATION.

Program 2

Expenses: $3,068

WATER QUALITY- THE LAKE HOPATCONG FOUNDATION WORKS TO MAINTAIN AND IMPROVE THE LAKE ENVIRONMENT AS THE HEALTH OF THE LAKE AFFECTS ALL FACETS OF THE LAKE HOPATCONG EXPERIENCE. THE FOUNDATION PARTNERS WITH OTHER STAKEHOLDER GROUPS AROUND THE LAKE TO IMPLEMENT WATER QUALITY IMPROVEMENT PROJECTS AND PROJECTS TO MITIGATE THE IMPACTS OF HARMFUL ALGAL BLOOMS (HABS) THROUGHOUT THE WATERSHED. THE FOUNDATION OVERSEES HAB VOLUNTEER MONITORING AND REPORTING PROGRAM, PREVENTS THE INTRODUCTION AND LIMITS THE SPREAD OF NEW AQUATIC INVASIVE SPECIES, THROUGH PUBLIC OUTREACH AND VOLUNTEER EFFORTS, AND CONDUCTS ROADSIDE AND LAKE-WIDE DEBRIS CLEANUPS.

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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 $587,395

Program Service Revenue $105,696

Investment Income $6,733

Other Revenue $0

TOTAL REVENUE $699,824

Expense Breakdown

Grants Paid $0

Salaries & Benefits $379,863

Fundraising Expenses $98,728

Program Expenses $451,783

Other Expenses $293,984

TOTAL EXPENSES $673,847

Year-over-Year Comparison

	2023	2022	Change
Revenue	$699,824	$818,317	-0.1%
Expenses	$673,847	$588,757	+0.1%
Net Income	$25,977	$229,560	-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

Volunteers

657

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

$91,236

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS D FLINN	TRUSTEE	2.00	Director	$0	$0	$0
MARTIN KANE	CHAIRMAN & TRUSTEE	15.00	Officer Director	$0	$0	$0
BEN TERNER	TRUSTEE	2.00	Director	$0	$0	$0
GARY WHITMAN	TRUSTEE	2.00	Director	$0	$0	$0
KATHI JONES	TREASURER & TRUSTEE	2.00	Officer Director	$0	$0	$0
ROBERT HAMBURGER	VICE CHAIRMAN & TRUSTEE	2.00	Officer Director	$0	$0	$0
LINDA KARPIAK	TRUSTEE	2.00	Director	$0	$0	$0
JAMES LEFFLER	TRUSTEE	2.00	Director	$0	$0	$0
BELA SZIGETHY	TRUSTEE EMERITUS	2.00	Director	$0	$0	$0
KERRY KIRK PFLUGH	TRUSTEE	2.00	Director	$0	$0	$0
LEON J MOREAU IV	TRUSTEE	2.00	Director	$0	$0	$0
KYLE RICHTER	EXECUTIVE DIRECTOR	40.00	Officer	$80,988	$10,248	$91,236

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	$699,824	$673,847	$2,777,669	$25,977
2022	$818,317	$588,757	$2,769,353	$229,560
2021	$676,963	$524,214	$2,545,308	$152,749
2020	$527,187	$613,005	$2,344,780	$-85,818
2019	$584,859	$555,609	$2,451,384	$29,250
2018	$870,585	$432,841	$2,578,389	$437,744