WESTGATE FOUNDATION INC (EIN 593725614) - 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

2002

Legal Domicile

Principal Officer

THOMAS DUGAN

Phone

4073513351

Tax Period

2022-01-01 to 2022-12-31

WESTGATE FOUNDATION INC, founded in 2002, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $5.3M in total revenue in fiscal year 2022. Revenue surged 842% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.2M, a strong 61% operating margin.

Mission

THE ORGANIZATION AIMS TO BE A CATALYST FOR POSITIVE CHANGE IN ITS LOCAL COMMUNITIES BY PARTNERING WITH ORGANIZATIONS THAT SEEK TO END THE NATION'S DRUG EPIDEMIC, CREATE STABILITY FOR FAMILIES IN NEED, PROVIDE CRITICAL RESOURCES TO OUR ACTIVE MILITARY & VETERANS, AND DEVELOP WORKFORCE READINESS PROGRAMS AROUND THE COUNTRY. THE FOUNDATION IS ALSO DEDICATED TO SUPPORTING TEAM MEMBERS IN AN UNFORESEEN CRISIS WHEN THEY NEED ASSISTANCE THE MOST.

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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 $5,126,240

Program Service Revenue $0

Investment Income $136,646

Other Revenue $0

TOTAL REVENUE $5,262,886

Expense Breakdown

Grants Paid $1,388,291

Salaries & Benefits $496,591

Fundraising Expenses $0

Program Expenses $1,388,291

Other Expenses $156,219

TOTAL EXPENSES $2,041,101

Year-over-Year Comparison

	2022	2021	Change
Revenue	$5,262,886	$558,516	+8.4%
Expenses	$2,041,101	$332,539	+5.1%
Net Income	$3,221,785	$225,977	+13.3%

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

100

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
DAVID SIEGEL	PRESIDENT	0.50	Officer Director	$0	$0	$0
MARK WALTRIP	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
KAREN WALTRIP	DIRECTOR	0.10	Director	$0	$0	$0
JACQUELINE SIEGEL	DIRECTOR	0.10	Director	$0	$0	$0
TOM DUGAN	TREASURER	0.20	Officer Director	$0	$0	$0
JIM GISSY	DIRECTOR	0.10	Director	$0	$0	$0
BARRY SIEGEL	DIRECTOR	0.10	Director	$0	$0	$0
RICHARD SIEGEL	DIRECTOR	0.10	Director	$0	$0	$0
STEVE SIEGEL	DIRECTOR	0.10	Director	$0	$0	$0
CRISA MARDER	DIRECTOR	0.10	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	No data	No data	No data	No data
2022	$5,262,886	$2,041,101	$3,345,889	$3,221,785
2021	$558,516	$332,539	$576,450	$225,977
2020	$502,066	$220,240	$350,473	$281,826
2019	$878,236	$856,118	$68,647	$22,118
2018	$763,012	$1,254,614	$46,529	$-491,602

WESTGATE FOUNDATION INC