SOUTHERN INDEPENDENT FORMAL WEAR A… - Form 990 Financial Data

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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

2013

Principal Officer

JOHN STREET

Phone

2057591466

Tax Period

2025-01-01 to 2025-12-31

SOUTHERN INDEPENDENT FORMAL WEAR ASSOCIATION, founded in 2013, is a small nonprofit that reported $123K in total revenue in fiscal year 2025. Revenue surged 32% from the prior year, signaling strong growth momentum.

Mission

DEDICATED TO EDUCATION, RESEARCH, THE ADVANCEMENT IN GENERAL OF THE SCIENCE, ART AND BUSINESS OF FORMAL WEAR RENTAL AND SALES.

Program Service Accomplishments

Program 1

Expenses: $104,184 Revenue: $76,922

TO EDUCATE AND ADVANCE THE BUSINESS OF FORMAL WEAR RENTAL AND SALES.

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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 (2025)

Revenue Breakdown

Contributions & Grants $46,094

Program Service Revenue $76,921

Investment Income $0

Other Revenue $0

TOTAL REVENUE $123,015

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $104,184

Other Expenses $119,867

TOTAL EXPENSES $119,867

Year-over-Year Comparison

	2025	2024	Change
Revenue	$123,015	$93,066	+0.3%
Expenses	$119,867	$116,305	+0.0%
Net Income	$3,148	$-23,239	-1.1%

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

N/A

Employees

N/A

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
DANNY BURCH	TREASURER	N/A	Officer Director	$0	$0	$0
RACHEL HOWELL	SECRETARY	N/A	Officer Director	$0	$0	$0
QUINCY BARNES	OFFICER	N/A	Officer	$0	$0	$0
RICK BOURBONAIS	OFFICER	N/A	Officer	$0	$0	$0
JIM DUBOIS	OFFICER	N/A	Officer	$0	$0	$0
JESSICA FEEHAN	OFFICER	N/A	Officer	$0	$0	$0
MISTY GREY	OFFICER	N/A	Officer	$0	$0	$0
GINO GUARNIERI	OFFICER	N/A	Officer	$0	$0	$0
GEORGE HANNAH	OFFICER	N/A	Officer	$0	$0	$0
JUSTIN HUGHEN	OFFICER	N/A	Officer	$0	$0	$0
LISA SOLBERG	OFFICER	N/A	Officer	$0	$0	$0
JOHN STREET	PRESIDENT	N/A	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
2025	$123,015	$119,867	$42,913	$3,148
2024	$93,066	$116,305	$39,765	$-23,239
2023	$91,218	$103,613	$63,004	$-12,395
2022	$109,464	$85,251	$75,199	$24,213
2021	$129,082	$107,932	$50,986	$21,150
2020	$4,850	$47,947	$29,836	$-43,097

SOUTHERN INDEPENDENT FORMAL WEAR ASSOCIATION