SENIOR FRIENDSHIP CENTERS FOUNDATI… - 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

1992

Legal Domicile

Principal Officer

ERIN MCLEOD

Phone

9419520911

Tax Period

2023-01-01 to 2023-12-31

SENIOR FRIENDSHIP CENTERS FOUNDATION INC, founded in 1992, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2023. Revenue surged 90% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.5M, a strong 87% operating margin.

Mission

TO EDUCATE THE COMMUNITY OF SOUTHWEST FLORIDA ABOUT THE SENIOR FRIENDSHIP CENTERS AND SERVICES AVAILABLE TO SENIOR ADULTS. THE GOAL IS TO GROW THE FOUNDATION FUNDS TO PROVIDE A PERMANENT SOURCE OF FUNDS FOR SENIOR FRIENDSHIP CENTER PROGRAMS WHICH ASSIST OLDER ADULTS. INCOME GENERATED BY THE FOUNDATION WILL SUPPLEMENT THE PROGRAMS OF THE FRIENDSHIP CENTERS AND ITS FINANCIAL DEVELOPMENT EFFORTS. IN DOING SO, THE FOUNDATION WILL CONTINUE TO LEAD IN THE MISSION OF THE ORGANIZATION TO PROMOTE HEALTHY, DIGNITY AND QUALITY OF LIFE THROUGHOUT THE JOURNEY OF AGING. ADDITIONALLY, THE FOUNDATION SUPPORTS THE ORGANIZATIONAL VISION TO LEAD THE WAY IN DELIVERY OF COMPREHENSIVE SERVICES THAT ENRICH LIVES OF OLDER ADULTS AND THEIR FAMILIES.

Program Service Accomplishments

Program 1

Expenses: $233,534

THE BENEFICIARY ORGANIZATION, SENIOR FRIENDSHIP CENTERS, INC (EIN 59-1522614) WAS ESTABLISHED IN 1973 AND SERVES THE NEEDS OF OLDER ADULTS IN FOUR COUNTIES OF SOUTHWEST FLORIDA - SARASOTA, DESOTO...

THE BENEFICIARY ORGANIZATION, SENIOR FRIENDSHIP CENTERS, INC (EIN 59-1522614) WAS ESTABLISHED IN 1973 AND SERVES THE NEEDS OF OLDER ADULTS IN FOUR COUNTIES OF SOUTHWEST FLORIDA - SARASOTA, DESOTO, CHARLOTTE, AND LEE. INDIVIDUAL DONATIONS, GIFT ANNUITIES, ESTATE BEQUESTS, AND COMMUNITY SUPPORT COMPRISE THE MAJORITY OF THE ANNUAL BUDGET OF THE SENIOR FRIENDSHIP CENTERS FOUNDATION.

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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 $2,281,924

Program Service Revenue $0

Investment Income $637,676

Other Revenue $0

TOTAL REVENUE $2,919,600

Expense Breakdown

Grants Paid $233,534

Salaries & Benefits $0

Fundraising Expenses $109,837

Program Expenses $233,534

Other Expenses $37,489

TOTAL EXPENSES $380,860

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,919,600	$1,535,375	+0.9%
Expenses	$380,860	$143,247	+1.7%
Net Income	$2,538,740	$1,392,128	+0.8%

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

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

$371,497

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL JUCEAM	CHAIR (AS OF 01/23)	1.00	Officer Director	$0	$0	$0
PATRICIA COURTOIS	PAST CHAIR (AS OF 01/23)	1.00	Officer Director	$0	$0	$0
KATHY SILVERBERG	VICE-CHAIR SOUTH	1.00	Officer Director	$0	$0	$0
PAM MAHONEY	VICE-CHAIR NORTH (AS OF 01/23)	1.00	Officer Director	$0	$0	$0
WENDY FISHMAN	TREASURER (AS OF 01/23)	1.00	Officer Director	$0	$0	$0
PAUL CARAGIULO	SECRETARY (AS OF 01/23)	1.00	Officer Director	$0	$0	$0
PHILIP DEMING	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE HOFMAN	DIRECTOR	1.00	Director	$0	$0	$0
ROBI LEACH	DIRECTOR (AS OF 01/23)	1.00	Director	$0	$0	$0
LAURA MAGNUSSON	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN MAISCH	DIRECTOR	1.00	Director	$0	$0	$0
JIM MEISTER	DIRECTOR (AS OF 01/23)	1.00	Director	$0	$0	$0
JENNIFER NIEDZINSKI	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINE SCHLESINGER	DIRECTOR (AS OF 01/23)	1.00	Director	$0	$0	$0
DARWIN TEPE	DIRECTOR (AS OF 07/23)	1.00	Director	$0	$0	$0
ROBERT THOMAS	DIRECTOR	1.00	Director	$0	$0	$0
ERIN MCLEOD	PRESIDENT/CEO	1.00	Officer	$0	$40,867	$214,867
DAVID BLEHAR	CFO/COO	1.00	Officer	$0	$19,657	$156,630

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	$2,919,600	$380,860	$9,829,004	$2,538,740
2022	$1,535,375	$143,247	$6,802,256	$1,392,128
2021	$814,822	$169,141	$6,563,887	$645,681
2020	$272,534	$441,629	$5,665,327	$-169,095
2019	$756,840	$493,838	$5,655,374	$263,002
2018	$273,123	$925,012	$5,222,247	$-651,889

SENIOR FRIENDSHIP CENTERS FOUNDATION INC