FRIENDS OF NOBSKA LIGHT 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

2015

Legal Domicile

Principal Officer

LARA BALTER

Phone

7747636453

Tax Period

2024-01-01 to 2024-12-31

FRIENDS OF NOBSKA LIGHT INC, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $274K in total revenue in fiscal year 2024. Revenue fell 51% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $56K, a strong 20% operating margin.

Mission

THE CHARITABLE MISSION IS EDUCATION OF THE PUBLIC ON LOCAL MARITIME HERITAGE WHILE PERSERVING, PROTECTING, AND ENSURING PUBLIC ACCESS TO THE ICONIC 1876 LANDMARK NOBSKA LIGHT STATION, CONSISTING OF A SEASIDE LIGHTHOUSE TOWER, KEEPER'S HOUSE, AND TWO ACRES GROUNDS.

Program Service Accomplishments

Program 1

Expenses: $177,521

THE PRESERVATION AND EXTENSIVE RESTORATION OF THE KEEPERS HOUSE, THE LIGHTHOUSE TOWER, AND THE TWO ACRE SITE ON WHICH THEY ARE LOCATED.

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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 $245,600

Program Service Revenue $0

Investment Income $1,836

Other Revenue $26,534

TOTAL REVENUE $273,970

Expense Breakdown

Grants Paid $0

Salaries & Benefits $47,528

Fundraising Expenses $25,420

Program Expenses $177,521

Other Expenses $170,372

TOTAL EXPENSES $217,900

Year-over-Year Comparison

	2024	2023	Change
Revenue	$273,970	$556,089	-0.5%
Expenses	$217,900	$664,061	-0.7%
Net Income	$56,070	$-107,972	-1.5%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHY WALRATH	PRESIDENT	1.00	Officer Director	$0	$0	$0
PATRICK BURKE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
LARA BALTER	TREASURER	1.00	Officer Director	$0	$0	$0
STEPHEN LEVY	DIRECTOR	1.00	Director	$0	$0	$0
DAVID FORSBERG	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY THOMAS	DIRECTOR	1.00	Director	$0	$0	$0
KAREN FALCONE	DIRECTOR	1.00	Director	$0	$0	$0
CARISSA APRIL	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT MASCALI	DIRECTOR	1.00	Director	$0	$0	$0
JEANNINE JEFFREY	DIRECTOR	1.00	Director	$0	$0	$0
JOHN COOK	DIRECTOR	1.00	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
2024	$273,970	$217,900	$406,674	$56,070
2023	$556,089	$664,061	$340,969	$-107,972
2022	$396,332	$544,696	$451,542	$-148,364
2021	$222,948	$187,710	$597,563	$35,238
2020	$948,469	$1,083,417	$586,935	$-134,948
2019	$1,549,666	$1,331,515	$1,159,330	$218,151
2018	$489,977	$221,557	$481,013	$268,420