FRIENDS OF THE PENN INC (EIN 510536795) - Form 990 Financial Analysis & Trantor Score

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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

2005

Legal Domicile

Principal Officer

ELLEN ELLIOTT

Phone

7344530870

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF THE PENN INC, founded in 2005, is a small nonprofit in the Arts, Culture & Humanities sector that reported $268K in total revenue in fiscal year 2023. Revenue fell 48% from the prior year — a significant decline worth monitoring. Net assets of $1.6M represent 72 months of operating reserves.

Mission

TO PRESERVE, MAINTAIN, AND OPERATE THE HISTORIC PENN THEATRE IN PLYMOUTH, MICHIGAN AS A VENUE THAT PROMOTES APPRECIATION OF CINEMATIC, LITERARY, AND PERFORMING ARTS.

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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 $110,856

Program Service Revenue $97,833

Investment Income $2,777

Other Revenue $56,499

TOTAL REVENUE $267,965

Expense Breakdown

Grants Paid $0

Salaries & Benefits $96,916

Fundraising Expenses $807

Program Expenses $146,180

Other Expenses $188,301

TOTAL EXPENSES $285,217

Year-over-Year Comparison

	2023	2022	Change
Revenue	$267,965	$515,972	-0.5%
Expenses	$285,217	$311,950	-0.1%
Net Income	$-17,252	$204,022	-1.1%

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

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

$33,075

Total Directors

$33,075

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELLEN ELLIOTT	EXECUTIVE DIRECTOR	40.0	Officer Director	$33,075	$0	$33,075
MICHAEL HATISOS	CHAIRMAN	1.0	Officer Director	$0	$0	$0
SUSAN STONEY	VICE CHAIRPERSON	1.0	Officer Director	$0	$0	$0
GERALD SABATINI	TREASURER	2.0	Officer Director	$0	$0	$0
JOSEPH ELLIOTT	SECRETARY	4.0	Officer Director	$0	$0	$0
SANDRA MARULIS	DIRECTOR	1.0	Director	$0	$0	$0
WILLIAM PEREGORD	DIRECTOR	1.0	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	No data	No data	No data	No data
2023	$267,965	$285,217	$1,675,177	$-17,252
2022	$515,972	$311,950	$1,714,736	$204,022
2022	$515,972	$311,950	$1,714,736	$204,022
2021	$328,882	$201,385	$1,976,170	$127,497
2020	$193,893	$180,089	$1,137,433	$13,804

FRIENDS OF THE PENN INC