FOLLY ASSOCIATION OF BUSINESS (EIN 570870145) - 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

1989

Legal Domicile

Principal Officer

VINCE PERNA

Phone

8432967190

Tax Period

2024-01-01 to 2024-12-31

FOLLY ASSOCIATION OF BUSINESS, founded in 1989, is a micro nonprofit that reported $32K in total revenue in fiscal year 2024. Revenue fell 77% from the prior year — a significant decline worth monitoring. Expenses of $72K exceeded revenue, resulting in a 125% operating deficit.

Mission

THE PROMOTION OF BUSINESS AND TOURISM IN FOLLY BEACH, S.C.

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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 $136,800

Program Service Revenue $6,366

Investment Income $140

Other Revenue $-111,361

TOTAL REVENUE $31,945

Expense Breakdown

Grants Paid $8,500

Salaries & Benefits $0

Fundraising Expenses $50

Program Expenses $35,197

Other Expenses $63,257

TOTAL EXPENSES $71,757

Year-over-Year Comparison

	2024	2023	Change
Revenue	$31,945	$138,342	-0.8%
Expenses	$71,757	$123,612	-0.4%
Net Income	$-39,812	$14,730	-3.7%

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
VINCE PERNA	PRESIDENT	2.00	Officer Director	$0	$0	$0
ERIN GUTHRIE	VICE-PRESIDENT	2.00	Officer Director	$0	$0	$0
EMMA FEIDT	SECRETARY	2.00	Officer Director	$0	$0	$0
KRISTINA OGDEN	TREASURER	3.00	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
2024	$31,945	$71,757	$192,613	$-39,812
2023	$138,342	$123,612	$232,425	$14,730
2022	$153,614	$124,193	$217,695	$29,421
2021	$110,217	$62,814	$190,774	$47,403
2020	$34,443	$85,478	$136,828	$-51,035
2019	$110,151	$98,403	$185,363	$11,748
2018	$114,200	$107,546	$173,615	$6,654

FOLLY ASSOCIATION OF BUSINESS