BREC FOUNDATION (EIN 680526294) - 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

BOBBY VARNAU

Phone

2252267381

Tax Period

2024-01-01 to 2024-12-31

BREC FOUNDATION, founded in 2002, is a small nonprofit in the Recreation & Sports sector that reported $363K in total revenue in fiscal year 2024. Revenue fell 38% from the prior year — a significant decline worth monitoring. Net assets of $1.0M represent 34 months of operating reserves.

Mission

THE MISSION OF BREC FOUNDATION IS TO RAISE FUNDS FOR PARKS AND RECREATION TO BENEFIT THE HEALTH, WELFARE, AND CULTURE FOR ALL CITIZENS AND VISITORS OF EAST BATON ROUGE PARISH. WE ACT AS GOOD STEWARDS OF FUNDS ENTRUSTED TO US BY OUR DONORS AND ABIDE BY THEIR WISHES AND DIRECTIVES. WE FACILITATE AND SUPPORT INNOVATION, SOUND CORPORATE GOVERNANCE, AND THE DEVELOPMENT OF MEANINGFUL PARTNERSHIPS TO FURTHER OUR MISSION AND PROVIDE OPPORTUNITIES TO OUR MEMBERS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $282,211

Program Service Revenue $45,406

Investment Income $35,568

Other Revenue $0

TOTAL REVENUE $363,185

Expense Breakdown

Grants Paid $245,660

Salaries & Benefits $82,903

Fundraising Expenses $19,755

Program Expenses $333,392

Other Expenses $57,515

TOTAL EXPENSES $386,078

Year-over-Year Comparison

	2024	2023	Change
Revenue	$363,185	$583,799	-0.4%
Expenses	$386,078	$367,961	+0.0%
Net Income	$-22,893	$215,838	-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

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

$177,692

Total Directors

$177,692

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ZACH CORBIN	PRESIDENT	1.00	Officer Director	$0	$0	$0
WILL CHADWICK	SECRETARY	1.00	Officer Director	$0	$0	$0
BOBBY VARNAU	TREASURER	1.00	Officer Director	$0	$0	$0
ROY HEIDELBERG	IMMEDIATE PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
JEFF ANDRY	DIRECTOR	1.00	Director	$0	$0	$0
BRAD ALLEN	DIRECTOR	1.00	Director	$0	$0	$0
MAXINE CORMIER	DIRECTOR	1.00	Director	$0	$0	$0
JAMES DUTSCHKE	DIRECTOR	1.00	Director	$0	$0	$0
JAMES GILMORE	DIRECTOR	1.00	Director	$0	$0	$0
MARCIA BLANCHARD	DIRECTOR	1.00	Director	$0	$0	$0
ELLEN MCKNIGHT	DIRECTOR	1.00	Director	$0	$0	$0
SHANE MORRISON	DIRECTOR	1.00	Director	$0	$0	$0
ADAM PARKER	AT LARGE	1.00	Officer Director	$0	$0	$0
JENNIFER GRAVES ROMERO	DIRECTOR	1.00	Director	$0	$0	$0
JOSH SMITH	DIRECTOR	1.00	Director	$0	$0	$0
BOBBY VARNAU	DIRECTOR	1.00	Director	$0	$0	$0
BYRON WASHINGTON	DIRECTOR	1.00	Director	$0	$0	$0
MARYBETH WILKERSON	DIRECTOR	1.00	Director	$0	$0	$0
CARL STAGES	EXECUTIVE DIRECTOR	40.00	Officer Director	$177,692	$0	$177,692
KATHERINE CRIFASI	DIRECTOR	1.00	Director	$0	$0	$0
JOHN GRINTON	DIRECTOR	1.00	Director	$0	$0	$0
LANDON HESTER	DIRECTOR	1.00	Director	$0	$0	$0
JACOB ROLAND	DIRECTOR	1.00	Director	$0	$0	$0
MONICA VELA-VICK	DIRECTOR	1.00	Director	$0	$0	$0
ROSSIE WASHINTON JR	DIRECTOR	1.00	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	$363,185	$386,078	$1,042,914	$-22,893
2023	$583,799	$367,961	$1,184,467	$215,838
2022	$444,362	$527,089	$959,579	$-82,727
2021	$347,434	$295,321	$1,061,214	$52,113
2020	$208,128	$234,675	$1,026,032	$-26,547
2019	$458,583	$495,373	$1,021,833	$-36,790
2018	$294,452	$484,629	$1,045,071	$-190,177

BREC FOUNDATION