OMAHA BAR ASSOCIATION

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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

1976

Legal Domicile

Principal Officer

DAVE SOMMERS

Phone

4023423786

Tax Period

2024-07-01 to 2025-06-30

OMAHA BAR ASSOCIATION, founded in 1976, is a small nonprofit that reported $340K in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $319K left a modest 6% surplus.

Mission

TO PROMOTE THE ADMINISTRATION OF JUSTICE, UPHOLD THE HONOR AND INTEGRITY OF THE PROFESSION OF LAW IN OMAHA, AND TO ENCOURAGE CORDIAL RELATIONS AMONG LAWYERS.

Program Service Accomplishments

Program 1

Expenses: $140,689 Revenue: $128,908

LAWYER REFERRALS AND CLERICAL SERVICES

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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 $203,540

Program Service Revenue $128,908

Investment Income $7,747

Other Revenue $0

TOTAL REVENUE $340,195

Expense Breakdown

Grants Paid $0

Salaries & Benefits $179,685

Fundraising Expenses $0

Program Expenses $140,689

Other Expenses $139,322

TOTAL EXPENSES $319,007

Year-over-Year Comparison

	2024	2023	Change
Revenue	$340,195	$281,466	+0.2%
Expenses	$319,007	$279,770	+0.1%
Net Income	$21,188	$1,696	+11.5%

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

Employees

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

$76,250

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVE SOMMERS	EXECUTIVE DIRECTOR	60.00	Officer	$76,250	$0	$76,250
ANGELA LENNON	PRESIDENT	5.00	Officer Director	$0	$0	$0
MARK JACOBS	TREASURER	2.00	Officer Director	$0	$0	$0
QUINN EATON	SECRETARY	2.00	Officer Director	$0	$0	$0
KATHLEEN PALLESEN	PRESIDENT ELECT	2.00	Director	$0	$0	$0
ANDY WILSON	IMMEDIATE PAST PRESIDENT	2.00	Director	$0	$0	$0
JOEL CARNEY	TREASURER ELECT	2.00	Director	$0	$0	$0
KATE MCNAMARA	IMMEDIATE PAST TREASURER	2.00	Director	$0	$0	$0
ANDREW MCCHESNEY	EXECUTIVE COUNCIL	2.00	Director	$0	$0	$0
KOREY TAYLOR	EXECUTIVE COUNCIL	2.00	Director	$0	$0	$0
HON TRESSA ALIOTH	EXECUTIVE COUNCIL	2.00	Director	$0	$0	$0
STEVE HOGAN	EXECUTIVE COUNCIL	2.00	Director	$0	$0	$0
ANN MANGIAMELI	EXECUTIVE COUNCIL	2.00	Director	$0	$0	$0
STEPHANIE TIRITILLI	EXECUTIVE COUNCIL	2.00	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
2025	$340,195	$319,007	$299,517	$21,188
2024	$281,466	$279,770	$278,329	$1,696
2023	$252,072	$269,016	$276,633	$-16,944
2022	$221,396	$233,760	$293,577	$-12,364
2021	$222,627	$211,139	$305,941	$11,488
2020	$229,828	$229,449	$294,453	$379
2019	$268,405	$272,483	$294,074	$-4,078
2018	$273,562	$289,667	$311,369	$-16,105