FLEET RESERVE ASSOCIATION

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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

1924

Legal Domicile

Principal Officer

PHILLIP REID

Phone

7036831400

Tax Period

2022-01-01 to 2022-12-31

FLEET RESERVE ASSOCIATION, founded in 1924, is a community nonprofit in the Public & Societal Benefit sector that reported $2.3M in total revenue in fiscal year 2022. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $2.9M exceeded revenue, resulting in a 26% operating deficit.

Mission

ADVOCATE FOR SEA SERVICES ENLISTED PERSONNEL, RETIREES AND VETERANS, AND KEEPING MEMBERS INFORMED OF IMPORTANT MATTERS AFFECTING THEM AND THE U.S. NAVY, U.S. MARINES AND U.S. COAST GUARD.

Program Service Accomplishments

Program 1

COMMUNICATIONS: ACTIVITIES INCLUDE MARKETING INITIATIVES AND WEEKLY LEGISLATIVE EMAIL UPDATES; PUBLISHING AND DISTRIBUTION "FRA TODAY" MONTHLY MAGAZINE AND A QUARTERLY ON-LINE PUBLICATION TO ALL...

COMMUNICATIONS: ACTIVITIES INCLUDE MARKETING INITIATIVES AND WEEKLY LEGISLATIVE EMAIL UPDATES; PUBLISHING AND DISTRIBUTION "FRA TODAY" MONTHLY MAGAZINE AND A QUARTERLY ON-LINE PUBLICATION TO ALL MEMBERS AND OTHER INTERESTED PARTIES FOCUSED ON ITEMS OF INTEREST TO ACTIVE, RETIRED, RESERVIST AND VETERANS OF THE SEA SERVICES; ADDITIONALLY THE COMMUNICATIONS PROGRAMS INCLUDE PRESS RELEASES, SPEECHES AND HANDOUTS.

Program 2

MEMBER SERVICES: ACTIVITIES INCLUDE INDIVIDUAL MEMBER SUPPORT, BRANCH MAILINGS, MEMBERSHIP OUTREACH AND LONGEVITY RECOGNITION AWARDS FOR MEMBERS, THEIR SPOUSES AND DEPENDENTS.

Program 3

LEGISLATIVE: ACTIVITES ASSOCIATED WITH LEGISLATIVE AND ADVOCACY WORK AT THE NATIONAL LEVEL ON BEHALF OF MEMBERSHIP ON PAY, BENEFITS AND QUALITY OF LIFE PROGRAMS FOR MEMBERS OF THE SEA SERVICES...

LEGISLATIVE: ACTIVITES ASSOCIATED WITH LEGISLATIVE AND ADVOCACY WORK AT THE NATIONAL LEVEL ON BEHALF OF MEMBERSHIP ON PAY, BENEFITS AND QUALITY OF LIFE PROGRAMS FOR MEMBERS OF THE SEA SERVICES, VETERANS AND THEIR SPOUSES AND DEPENDENTS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $563,820

Program Service Revenue $834,037

Investment Income $107,376

Other Revenue $831,306

TOTAL REVENUE $2,336,539

Expense Breakdown

Grants Paid $3,162

Salaries & Benefits $1,605,445

Fundraising Expenses $0

Other Expenses $1,335,169

TOTAL EXPENSES $2,943,776

Year-over-Year Comparison

	2022	2021	Change
Revenue	$2,336,539	$3,173,307	-0.3%
Expenses	$2,943,776	$3,109,285	-0.1%
Net Income	$-607,237	$64,022	-10.5%

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

110

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

$237,333

Total Directors

$122,414

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER J SLAWINSKI	NATIONAL EXEC DIRECTOR	40.00	Officer Director	$112,023	$10,391	$122,414
JAMES W CAMPBELL	NATIONAL PRESIDENT	4.00	Officer Director	$0	$0	$0
JAMES E ROBBINS JR	NATIONAL VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
ROBERT G BEESE	PARLIAMENTARIAN	4.00	Director	$0	$0	$0
SAM LYMON	CHAPLAIN	4.00	Director	$0	$0	$0
MICHAEL FULTON	JR PAST NATL PRESIDENT	4.00	Director	$0	$0	$0
NEIL I ROSS	REGL PRES NE/NEW ENG	4.00	Director	$0	$0	$0
CHRISTOPHER J MURRY	REGL PRES EAST COAST	4.00	Director	$0	$0	$0
JACK M FOGEL	REGL PRES SOUTHEAST	4.00	Director	$0	$0	$0
MARIA A BEHM	REGL PRES NORTH CENTRAL	4.00	Director	$0	$0	$0
C URSULA GRUETZNER	REGL PRES SOUTH CENTRAL	4.00	Director	$0	$0	$0
ROGELIO A BACUD	REGL PRES SOUTHWEST	4.00	Director	$0	$0	$0
WILLIAM L HANZEL	REGL PRES WEST COAST	4.00	Director	$0	$0	$0
MICHELLE DAVIS	REGL PRES NORTHWEST	4.00	Director	$0	$0	$0
PHILLIP REID	FINANCE OFFICER	40.00	Officer	$105,111	$9,808	$114,919
JOHN R DAVIS	DIR, LEGISLATIVE PROGRAMS	40.00	Highest	$104,007	$9,583	$113,590

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	$2,336,539	$2,943,776	$3,748,806	$-607,237
2021	$3,173,307	$3,109,285	$5,138,696	$64,022
2020	$2,083,726	$2,976,243	$4,534,343	$-892,517