Community Foundation of South Lake County Inc (EIN 593343026) - 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

1995

Legal Domicile

Principal Officer

Laura Michalski

Tax Period

2023-10-01 to 2024-09-30

Community Foundation of South Lake County Inc, founded in 1995, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $978K in total revenue in fiscal year 2023. Revenue fell 42% from the prior year — a significant decline worth monitoring. Expenses of $3.7M exceeded revenue, resulting in a 275% operating deficit.

Mission

The Foundations purpose is to enhance the lives of the residents of South Lake County now and for future generations by working together with our donors to build resources, address needs, and collaborate on key community issues and initiatives.

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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 $300,714

Program Service Revenue $0

Investment Income $558,068

Other Revenue $119,224

TOTAL REVENUE $978,006

Expense Breakdown

Grants Paid $2,987,768

Salaries & Benefits $204,633

Fundraising Expenses $21,469

Program Expenses $3,586,822

Other Expenses $477,744

TOTAL EXPENSES $3,670,145

Year-over-Year Comparison

	2023	2022	Change
Revenue	$978,006	$1,689,296	-0.4%
Expenses	$3,670,145	$1,162,569	+2.2%
Net Income	$-2,692,139	$526,727	-6.1%

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

N/A

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
Doneth Rose	Director	2.00	Director	$0	$0	$0
Donald Keene	Director	1.00	Director	$0	$0	$0
Heather Theis	Director	1.00	Director	$0	$0	$0
Erica Cole	Director	1.00	Director	$0	$0	$0
Pat Carraciolo	Director	1.00	Director	$0	$0	$0
Lance Sewell	Director	1.00	Director	$0	$0	$0
Paula Hosington	Vice President	2.00	Officer Director	$0	$0	$0
Michael Spartz	Treasurer	2.00	Officer Director	$0	$0	$0
Mike Bucher	Immediate Past President	2.00	Officer	$0	$0	$0
Laura Michalski	Executive Director	40.00	Officer Key Emp	$0	$0	$0
Sandy Simmonds	President	2.00	Officer	$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	$978,006	$3,670,145	$19,142,546	$-2,692,139
2023	$1,689,296	$1,162,569	$18,631,354	$526,727
2022	$4,419,592	$1,470,970	$16,635,104	$2,948,622
2021	$3,315,100	$2,078,400	$17,602,287	$1,236,700
2020	$2,322,171	$1,080,908	$14,608,777	$1,241,263
2019	$1,227,761	$1,111,654	$13,321,233	$116,107
2018	$1,407,474	$1,058,375	$13,331,206	$349,099

Community Foundation of South Lake County Inc