FOREKIDS FOUNDATIONS INC DBA ZURICH CLASSIC OF NEW ORLEANS (EIN 581940111) - 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

1958

Legal Domicile

Principal Officer

STEVE WORTHY

Phone

5043423000

Tax Period

2024-10-01 to 2025-09-30

FOREKIDS FOUNDATIONS INC DBA ZURICH CLASSIC OF NEW ORLEANS, founded in 1958, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $20.7M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $19.2M left a modest 7% surplus.

Mission

THE PRIMARY PURPOSE OF THE FOUNDATION IS THE PROMOTION OF SOCIAL WELFARE FOR THE COMMUNITY OF NEW ORLEANS BY PROMOTING, MANAGING, AND SPONSORING AN ANNUAL PGA TOUR GOLF TOURNAMENT.

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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 $1,866,984

Program Service Revenue $17,929,216

Investment Income $738,879

Other Revenue $171,506

TOTAL REVENUE $20,706,585

Expense Breakdown

Grants Paid $3,190,292

Salaries & Benefits $1,384,704

Fundraising Expenses $0

Program Expenses $18,634,095

Other Expenses $14,617,632

TOTAL EXPENSES $19,192,628

Year-over-Year Comparison

	2024	2023	Change
Revenue	$20,706,585	$19,053,043	+0.1%
Expenses	$19,192,628	$17,600,651	+0.1%
Net Income	$1,513,957	$1,452,392	+0.0%

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

750

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

$757,966

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN COLOMB	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN CHERAMINE	EX-OFFICIO	1.00	Director	$0	$0	$0
CHARLES RICE	DIRECTOR	1.00	Director	$0	$0	$0
CHAV PIERCE	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
DARRAH SCHAEFER	DIRECTOR	1.00	Director	$0	$0	$0
JIM GARNER	DIRECTOR	1.00	Director	$0	$0	$0
SAM SOLOMON	DIRECTOR	1.00	Director	$0	$0	$0
GORDY RUSH	DIRECTOR	1.00	Director	$0	$0	$0
JERRY BOLOGNA	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BARRANCO	DIRECTOR	1.00	Director	$0	$0	$0
MARK ROMIG	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PEGGY COLEMAN	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT BALLARD	DIRECTOR	1.00	Director	$0	$0	$0
MELVIN RODRIGUE	DIRECTOR	1.00	Director	$0	$0	$0
PHILIP GARRETT JR	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL RODRIGUE JR	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS KENYON	VP OF SALES & MARKETING	40.00	Key Emp	$192,000	$15,212	$207,212
STEVE WORTHY	CEO	40.00	Key Emp	$490,500	$60,254	$550,754

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	$20,706,585	$19,192,628	$17,514,853	$1,513,957
2024	$19,053,043	$17,600,651	$15,530,768	$1,452,392
2023	$17,405,479	$16,415,798	$12,545,664	$989,681
2022	$16,554,167	$15,521,858	$11,128,381	$1,032,309
2021	$13,321,599	$12,485,448	$10,997,884	$836,151
2020	$3,471,560	$2,987,050	$9,672,459	$484,510
2019	$13,892,145	$13,563,379	$6,331,800	$328,766
2018	$13,657,286	$13,359,705	$10,190,406	$297,581

FOREKIDS FOUNDATIONS INC DBA ZURICH CLASSIC OF NEW ORLEANS