KINGS POINT RECREATION CORPORATION

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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

FRANK IOVINE

Phone

5614993335

Tax Period

2023-01-01 to 2023-12-31

KINGS POINT RECREATION CORPORATION, founded in 2012, is a mid-sized nonprofit in the Recreation & Sports sector that reported $26.8M in total revenue in fiscal year 2023. The organization ran a surplus of $8.0M, a strong 30% operating margin.

Mission

The Rec Area of Kings Point was designed and is operated for residents and guests of Kings Point, which consists of 3 clubhouses, pools, two golf courses, theater, bus system, 2 dining areas, other common areas.

Program Service Accomplishments

Program 1

Expenses: $18,768,920 Revenue: $26,819,299

THE RECREATION AREA OF KINGS POINT WAS DESIGNED AND IS OPERATED FOR THE PLEASURE OF KINGS POINT RESIDENTS AND THEIR GUESTS. THE REC AREA CONSISTS OF 3 CLUBHOUSES, SWIMMING POOLS, 2 GOLF COURSES, A...

THE RECREATION AREA OF KINGS POINT WAS DESIGNED AND IS OPERATED FOR THE PLEASURE OF KINGS POINT RESIDENTS AND THEIR GUESTS. THE REC AREA CONSISTS OF 3 CLUBHOUSES, SWIMMING POOLS, 2 GOLF COURSES, A 1,300 SEAT THEATER, BUS SYSTEM, 2 DINING FACILITIES, SPA FACILITIES, ENTRY GATES, ROADS, AND OTHER COMMON FACILITIES.

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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 $0

Program Service Revenue $26,819,299

Investment Income $0

Other Revenue $0

TOTAL REVENUE $26,819,299

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $18,768,920

Other Expenses $18,843,919

TOTAL EXPENSES $18,843,919

Year-over-Year Comparison

	2023	2022	Change
Revenue	$26,819,299	$26,178,208	+0.0%
Expenses	$18,843,919	$16,944,832	+0.1%
Net Income	$7,975,380	$9,233,376	-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

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
KEN BRADLEY	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
HOWARD HOFFMAN	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
ANITA KOLSKY	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
FRANK IOVINE	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
BRUCE KLEIN	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
BARRY LEVINE	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
BONNIE LEFKOWITZ	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
LISA D'ORTIZ	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
LISA MANZIONE	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
JOSEPH MILLER	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
FRAN MORROW	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
ARTHUR SIMON	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
JOEL ROSENSCHEIN	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
MARY ELLEN SORCE	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
ROCHELLE FEINBERG	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
MAUREEN FOX	PLENARY DIRECTOR	1.000	Director	$0	$0	$0
STEPHANIE WATMAN	PLENARY DIRECTOR	1.000	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
2024	No data	No data	No data	No data
2023	$26,819,299	$18,843,919	$22,564,283	$7,975,380
2022	$26,178,208	$16,944,832	$23,054,036	$9,233,376
2021	$25,502,124	$15,995,415	$17,448,550	$9,506,709
2020	$24,147,820	$16,093,866	$13,166,686	$8,053,954