Friends of Nursing

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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

Legal Domicile

Principal Officer

Melanie Wallace

Tax Period

2024-06-01 to 2025-05-31

Friends of Nursing is a small nonprofit in the Health Care sector that reported $281K in total revenue in fiscal year 2024. Revenue surged 54% from the prior year, signaling strong growth momentum. The organization ran a surplus of $101K, a strong 36% operating margin.

Mission

Advance professional nursing by providing scholarships for quality education in baccalaureate and higher degree programs in Colorado schools of nursing.

Program Service Accomplishments

Program 1

Expenses: $170,025

Awarded scholarships to individuals enrolled in baccalaureate or higher degree programs in Colorado schools of nursing.

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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 $195,472

Program Service Revenue $0

Investment Income $56,408

Other Revenue $28,688

TOTAL REVENUE $280,568

Expense Breakdown

Grants Paid $170,025

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $170,025

Other Expenses $9,790

TOTAL EXPENSES $179,815

Year-over-Year Comparison

	2024	2023	Change
Revenue	$280,568	$182,265	+0.5%
Expenses	$179,815	$118,122	+0.5%
Net Income	$100,753	$64,143	+0.6%

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

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	Role	Reportable Comp	Other Comp	Total
Greta Pollard	Director	Director	$0	$0	$0
Brenda Olson	Director	Director	$0	$0	$0
MacKenzy Adams	Director	Director	$0	$0	$0
Amanda Wallace	Director	Director	$0	$0	$0
La Fawn Biddle	Director	Director	$0	$0	$0
Phyllis Wicklund	Director	Director	$0	$0	$0
Devona Troutman	Director	Director	$0	$0	$0
Michael Fant	Director	Director	$0	$0	$0
Melanie Wallace	President	Officer	$0	$0	$0
Teri Carlson	Treasurer	Officer	$0	$0	$0
Julie Benz	Vice President	Officer	$0	$0	$0
Barbara White	Secretary	Officer	$0	$0	$0
Cynthia Oster	Vice President	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	$280,568	$179,815	$734,565	$100,753
2024	$182,265	$118,122	$632,667	$64,143
2023	$117,010	$104,423	$568,522	$12,587
2022	$175,856	$79,180	$555,935	$96,676