FRESH START FURNITURE BANK INC

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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

2014

Legal Domicile

Principal Officer

GEOFFREY SCHULTZ

Phone

5084852080

Tax Period

2024-01-01 to 2024-12-31

FRESH START FURNITURE BANK INC, founded in 2014, is a small nonprofit in the Human Services sector that reported $600K in total revenue in fiscal year 2024. Expenses of $548K left a modest 9% surplus.

Mission

FRESH START FURNITURE BANK PROVIDES DONATED AND PURCHASED FURNITUREAND HOME GOODS FOR FREE, TO PEOPLE IN NEED.

Program Service Accomplishments

Program 1

Expenses: $467,659

THE ORGANIZATION FURNISHED 621 FAMILIES (2,072 INDIVIDUALS) WITH OVER 31,760 PIECES OF FURNITURE AND HOME GOODS.

Program 2

Expenses: $57,977

THE ORGANIZATION'S SWEET DREAMS MATTRESS PROGRAM DISTRIBUTED A TOTAL OF 864 MATTRESSES, FOUNDATIONS, AND FRAMES TO FAMILIES

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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 $569,134

Program Service Revenue $0

Investment Income $12,232

Other Revenue $18,657

TOTAL REVENUE $600,023

Expense Breakdown

Grants Paid $340,449

Salaries & Benefits $4,512

Fundraising Expenses $2,657

Program Expenses $525,636

Other Expenses $201,515

TOTAL EXPENSES $548,314

Year-over-Year Comparison

	2024	2023	Change
Revenue	$600,023	$627,843	0.0%
Expenses	$548,314	$627,730	-0.1%
Net Income	$51,709	$113	+456.6%

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

122

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
DAVID SPELLMAN	CLERK	12.00	Director	$0	$0	$0
GEOFFREY WILLIAM SCHULTZ	PRESIDENT	40.00	Officer Director	$0	$0	$0
SUSAN ELAINE WAUDBY	TREASURER	40.00	Officer Director	$0	$0	$0
JENNIFER MANDELBAUM	DIRECTOR	0.25	Director	$0	$0	$0
LAURIE WYNNE	DIRECTOR	0.25	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	$600,023	$548,314	$1,278,619	$51,709
2023	$627,843	$627,730	$1,353,307	$113
2022	$795,828	$618,216	$672,996	$177,612
2021	$477,194	$424,010	$492,423	$53,184
2020	$326,815	$304,544	$440,294	$22,271
2019	$484,363	$330,953	$420,917	$153,410
2018	$418,877	$317,883	$263,732	$100,994