WESTERN FLYER FOUNDATION

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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

2016

Legal Domicile

Principal Officer

EFRAIN CORIA

Phone

8312208047

Tax Period

2024-07-01 to 2025-06-30

WESTERN FLYER FOUNDATION, founded in 2016, is a community nonprofit in the Education sector that reported $1.4M in total revenue in fiscal year 2024. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $2.1M exceeded revenue, resulting in a 53% operating deficit.

Mission

TO STIR CURIOSITY THROUGH MARINE RESEARCH, EDUCATION, AND A BLEND OF SCIENCE AND ART INSPIRED BY JOHN STEINBECK, ED RICKETTS, AND THEIR JOURNEY ON THE WESTERN FLYER.

Program Service Accomplishments

Program 1

Expenses: $1,241,792

THE FOUNDATION MAINTAINED AND OPERATED THE HISTORIC RESEARCH VESSEL WESTERN FLYER AS THE PRIMARY PLATFORM FOR ITS EDUCATION, RESEARCH, AND OUTREACH ACTIVITIES. DURING THE FISCAL YEAR, THE VESSEL...

THE FOUNDATION MAINTAINED AND OPERATED THE HISTORIC RESEARCH VESSEL WESTERN FLYER AS THE PRIMARY PLATFORM FOR ITS EDUCATION, RESEARCH, AND OUTREACH ACTIVITIES. DURING THE FISCAL YEAR, THE VESSEL SUPPORTED EXPANDED PROGRAMMING IN MONTEREY BAY AND COMPLETED ITS FIRST EXTENDED EXPEDITION TO MEXICO. OPERATIONAL ACTIVITIES INCLUDED VESSEL MAINTENANCE, ONBOARD SYSTEMS MANAGEMENT, AND CREW SUPPORT NECESSARY TO SAFELY CONDUCT ALL PROGRAMS.

Program 2

Expenses: $386,333 Revenue: $29,488

THE WESTERN FLYER FOUNDATION SERVED OVER 1,700 STUDENTS THROUGH MARINE SCIENCE AND PLACE-BASED EDUCATION PROGRAMS DELIVERED ABOARD THE RESEARCH VESSEL WESTERN FLYER AND IN CLASSROOM AND SHORE-BASED SETTINGS. PROGRAMS INCLUDED AT-SEA AND DOCKED VESSEL EXPERIENCES, A MENTORSHIP PROGRAM, AND SCIENCE ILLUSTRATION AND NATURE JOURNALING. ACTIVITIES TOOK PLACE IN MONTEREY BAY AND DURING A 4,700-MILE, 100-DAY GULF OF CALIFORNIA EXPEDITION, WHICH ALSO SUPPORTED PILOT RESEARCH CONDUCTED WITH SCIENTIFIC PARTNERS AND CONTRIBUTED TO DATASETS FOR ONGOING RESEARCH AND FUTURE EDUCATIONAL USE.

Program 3

Expenses: $174,369

THE FOUNDATION CONDUCTED PUBLIC OUTREACH ACTIVITIES IN CALIFORNIA AND MEXICO THROUGH EVENTS, PRESENTATIONS, FREE PUBLIC VESSEL TOURS, AND DOCKSIDE PROGRAMMING, ENGAGING APPROXIMATELY 10,000 COMMUNITY MEMBERS.THE FOUNDATION ALSO ADVANCED PRODUCTION OF ITS SHORT FILM,WE SIMPLY LIKED IT, EXTENDING ITS EDUCATIONAL AND STORYTELLING REACH.

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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 $1,325,091

Program Service Revenue $21,800

Investment Income $25

Other Revenue $44,611

TOTAL REVENUE $1,391,527

Expense Breakdown

Grants Paid $0

Salaries & Benefits $454,603

Fundraising Expenses $193,105

Program Expenses $1,802,494

Other Expenses $1,679,870

TOTAL EXPENSES $2,134,473

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,391,527	$2,061,260	-0.3%
Expenses	$2,134,473	$1,447,984	+0.5%
Net Income	$-742,946	$613,276	-2.2%

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

144

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

$163,137

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHERRY FLUMERFELT	EXECUTIVE DIRECTOR	40.00	Officer	$138,749	$24,388	$163,137
WILLIAM GILLY	DIRECTOR	2.00	Director	$0	$0	$0
ENRIQUE HAMBLETON	DIRECTOR 10/25	2.00	Director	$0	$0	$0
JOHN GREGG	FOUNDER	10.00	Officer	$0	$0	$0
TOM KEFFER	BOARD PRESIDENT	10.00	Officer Director	$0	$0	$0
EFRAIN CORIA	TREASURER ST 01/2025	2.00	Officer Director	$0	$0	$0
SUSAN SHILLINGLAW	SECRETARY	2.00	Officer Director	$0	$0	$0
JACK BARTH	DIRECTOR	10.00	Director	$0	$0	$0
LINDA POWELL - MCMILLAN	DIRECTOR	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	$1,391,527	$2,134,473	$6,661,907	$-742,946
2024	$2,061,260	$1,447,984	$7,405,790	$613,276
2023	$1,951,738	$397,311	$6,623,453	$1,554,427
2022	$1,527,825	$112,493	$5,095,459	$1,415,332
2021	$702,741	$151,925	$3,260,238	$550,816
2020	$1,138,578	$-14,428	$2,709,422	$1,153,006
2019	$1,752,103	$436,786	$1,556,416	$1,315,317