Friends of Rea Park 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

Michael G Harding

Phone

8122329492

Tax Period

2023-01-01 to 2023-12-31

Friends of Rea Park Inc, founded in 2014, is a small nonprofit in the Recreation & Sports sector that reported $188K in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $187K, a strong 100% operating margin.

Mission

Raise funds to support the historic Rea Park Club House and golf course that is owned by the city of Terre Haute, Indiana.

Program Service Accomplishments

Program 1

Expenses: $939 Revenue: $175,012

Received $175,012 of contributions which will be used in 2024 to support renovation of and additions to the historic Rea Park Club House

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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 $175,012

Program Service Revenue $0

Investment Income $13,402

Other Revenue $0

TOTAL REVENUE $188,414

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $763

Program Expenses $939

Other Expenses $939

TOTAL EXPENSES $939

Year-over-Year Comparison

	2023	2022	Change
Revenue	$188,414	$140,664	+0.3%
Expenses	$939	$1,871	-0.5%
Net Income	$187,475	$138,793	+0.4%

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
Michael Harding	President	4.00	Officer Director	$0	$0	$0
William Olah	Secretary	1.00	Officer Director	$0	$0	$0
William Verdeyen	Vice President	1.00	Officer Director	$0	$0	$0
Orville Earl Elliott	Treasurer	2.00	Officer 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
2023	$188,414	$939	$569,426	$187,475