King Street Center Foundation 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

Shabnam Nolan

Phone

8028626736

Tax Period

2021-04-01 to 2022-03-31

King Street Center Foundation Inc, founded in 2014, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2021. Revenue surged 2146% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.5M, a strong 81% operating margin.

Mission

To support King Street Center, Inc. ("KSC") by 1) purchasing certain real property, 2) leasing the Project Property to KSC and 3) all other purposes permitted by law that further the support of KSC.

Program Service Accomplishments

Program 1

Expenses: $256,510 Revenue: $0

The King Street Center Foundation (KSCF) was a supporting organization of the King Street Center ("KSC") whose mission is to ".. create a place where kids meet opportunity through learning, play and community." ** KSCF was a "Qualified Active Low-Income Community Business" for purposes of entering into a financing arrangement involving "New Markets Tax Credits." As part of the financing structure, KSC transferred existing real property and construction in progress to KSCF who then completed the major construction and renovations on the "King Street Center" facility in downtown Burlington, Vermont. ** The NMTC financing project was "unwound" beginning in November 2021 and ending in March 2022 with the liquidation of KSCF and the transfer of its assets (cash and property and equipment, at net book value) net of its liabilities (cumulative amounts "Due to KSC") to KSC.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $26

Other Revenue $1,865,353

TOTAL REVENUE $1,865,379

Expense Breakdown

Grants Paid $55,311

Salaries & Benefits $0

Fundraising Expenses $2,064

Program Expenses $256,510

Other Expenses $298,660

TOTAL EXPENSES $353,971

Year-over-Year Comparison

	2021	2020	Change
Revenue	$1,865,379	$83,049	+21.5%
Expenses	$353,971	$330,060	+0.1%
Net Income	$1,511,408	$-247,011	-7.1%

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

$112,436

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Shabnam Nolan	President (Oct - Mar)	2.00	Officer	$0	$1,770	$27,685
Victoria Smith	President (Apr - Nov)	2.00	Officer	$0	$14,121	$84,751
Michael Monte	Director	0.20	Director	$0	$0	$0
Anna Grady	Director	0.20	Director	$0	$0	$0
Stacy Fagan	Director	0.20	Director	$0	$0	$0
Eric Ode	Director	0.20	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
2022	$1,865,379	$353,971	No data	$1,511,408
2021	$83,049	$330,060	$5,014,684	$-247,011
2020	$83,168	$330,579	$5,261,695	$-247,411
2019	$83,160	$331,712	$5,505,009	$-248,552