THE WILL MCLEAN FOUNDATION INC

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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

1994

Legal Domicile

Principal Officer

DOUG SPEARS

Phone

4075042231

Tax Period

2023-01-01 to 2023-12-31

THE WILL MCLEAN FOUNDATION INC, founded in 1994, is a small nonprofit in the Arts, Culture & Humanities sector that reported $310K in total revenue in fiscal year 2023. Revenue fell 76% from the prior year — a significant decline worth monitoring. Net assets of $1.7M represent 66 months of operating reserves.

Mission

THE GOALS ARE: -TO PROMOTE, IN THE STATE OF FLORIDA AND ELSEWHERE, THE WORKS OF WILL MCLEAN AND THE WORKS OF OTHER FLORIDA ARTISTS. -TO PROVIE FOR RESEARCH, EDUCATION, PERFORMANCE, AND TRAINING -TO PROMOTE UNDERSTANDING AND APPRECIATION OF THE WORKS OF FLORIDA'S ARTISTS PROVIDE FACILITIES, PROGRAMS AND EDUCATIONAL MATERIALS -TO PROMOTE INVOLVEMENT BY NONPROFESSIONAL AND PROFESSIONAL COMMUNITIES ALIKE, IN THE ARTISTIC AND EDUCATIONAL FIELDS -TO PROVIDE LOANS, SCHOLARSHIPS AND GRANTS TO STUDENTS, ORGANIZATIONS AND/OR SPECIFIC INDIVIDUALS IN THE COMMUNITY FOR THE PROMULGATION OF ARTISTIC PRODUCTIONS IN SPECIFIED AREAS

Program Service Accomplishments

Program 1

Expenses: $52,181 Revenue: $236,218

PROVIDING PROGRAMS AND FACILITIES TO PROMOTE AND SUPPORT PERFORMANCE OPPORTUNITIES FOR FLORIDA ARTISTS AND APPRECIATION OF THEIR WORK, PROVIDING EDUCATIONAL OPPORTUNITIES IN THE FLORIDA FOLK ARTS...

PROVIDING PROGRAMS AND FACILITIES TO PROMOTE AND SUPPORT PERFORMANCE OPPORTUNITIES FOR FLORIDA ARTISTS AND APPRECIATION OF THEIR WORK, PROVIDING EDUCATIONAL OPPORTUNITIES IN THE FLORIDA FOLK ARTS, EXTENDING SPONSORSHIPS TO OTHER NONPROFIT ORGANIZATIONS TO SUPPORT PERFORMANCE AND EDUCATIONAL OPPORTUNITIES AND PROVIDING EDUCATIONAL SCHOLARSHIPS FOR COLLEGE STUDENTS HAVING A DEMONSTRATED INTEREST IN THE ARTS.

Program 2

Expenses: $189,439

WMF FACILITIES, LLC IS A WHOLLY-OWNED ENTITY OF THE FOUNDATION THAT HOLDS TITLE TO AND OPERATES THE FLORIDA SAND MUSIC RANCH. THE RANCH SERVES THE FOUNDATION'S MISSION OF PROVIDING FACILITIES TO...

WMF FACILITIES, LLC IS A WHOLLY-OWNED ENTITY OF THE FOUNDATION THAT HOLDS TITLE TO AND OPERATES THE FLORIDA SAND MUSIC RANCH. THE RANCH SERVES THE FOUNDATION'S MISSION OF PROVIDING FACILITIES TO SUPPORT, PROMOTE AND ENCOURAGE ARTISTIC INVOLVEMENT AND PERFORMANCE BY RENTING THE PROPERTY FOR MUSIC FESTIVALS AND EVENTS. WMF FACILITIES, LLC OPERATES AND MANAGES THE PROPERTY, WHICH INCLUDES AN 80 ACRE CAMPGROUND, THREE PERMANENT STAGE / EVENT STRUCTURES, A FULLY FUNCTIONAL KITCHEN FACILITY, RESTROOM / SHOWER FACILITIES AND RELATED UTILITY AND MAINTENANCE STRUCTURES. THE PROPERTY WAS DONATED TO WMF FACILITIES, LLC ON NOVEMBER 1, 2022 BY SERTOMA YOUTH RANCH, INC (EIN 59-2603520), A 501C3 TAX-EXEMPT ORGANIZATION. FOR FEDERAL TAX PURPOSES, WMF FACILITIES, LLC IS CONSIDERED A DIREGARDED ENTITY OF THE FOUNDATION.

Program 3

Expenses: $13,668

SCHOLARSHIPS TO STUDENTS, ORGANIZATIONS AND/OR SPECIFIC INDIVIDUALS IN THE COMMUNITY FOR THE PROMULGATION OF ARTISTIC PRODUCTIONS IN SPECIFIC AREAS.

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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 $24,443

Program Service Revenue $236,218

Investment Income $20,815

Other Revenue $28,413

TOTAL REVENUE $309,889

Expense Breakdown

Grants Paid $0

Salaries & Benefits $61,647

Fundraising Expenses $1,216

Program Expenses $255,288

Other Expenses $259,474

TOTAL EXPENSES $321,121

Year-over-Year Comparison

	2023	2022	Change
Revenue	$309,889	$1,302,789	-0.8%
Expenses	$321,121	$125,432	+1.6%
Net Income	$-11,232	$1,177,357	-1.0%

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

120

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUG SPEARS	PRESIDENT	15.00	Officer Director	$0	$0	$0
BARI LITSCHAUER	VP	0.50	Officer Director	$0	$0	$0
KATHY WALLACE	SECRETARY	1.00	Officer Director	$0	$0	$0
MIKE JURGENSON	TREASURER	10.00	Officer Director	$0	$0	$0
INGRID SCHAPER	TREASURER (F	10.00	Officer Director	$0	$0	$0
BARBARA SHEEN TODD	DIRECTOR AT	0.50	Director	$0	$0	$0
MARY ANN DINELLA	DIRECTOR AT	0.50	Director	$0	$0	$0
SCOTT JACKSON	DIRECTOR AT	0.50	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	$309,889	$321,121	$1,718,486	$-11,232
2022	$1,302,789	$125,432	$1,657,905	$1,177,357
2021	$22,346	$11,996	$569,530	$10,350