FRIENDS FOR LIFE

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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

1989

Legal Domicile

Principal Officer

INEZ RUSSELL

Phone

2547727600

Tax Period

2023-09-01 to 2024-08-31

FRIENDS FOR LIFE, founded in 1989, is a community nonprofit in the Health Care sector that reported $4.8M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. The organization ran a surplus of $860K, a strong 18% operating margin.

Mission

FRIENDS FOR LIFE (THE ORGANIZATION") IS A TEXAS PRIVATE NONPROFIT ORGANIZATION CHARTERED IN SEPTEMBER 1989. THE ORGANIZATION PROVIDES SUPPORT SYSTEMS AND SERVICES THAT EMPOWER SENIORS AND PEOPLE WITH DISABILITIES TO LIVES THEIR BEST LIVES AS INDEPENDENTLY AS POSSIBLE. THE ORGANIZATION ACCOMPLISHES THESE GOALS BY PROVIDING THE FOLLOWING PROGRAMS: REGISTERED PROFESSIONAL GUARDIANSHIP, MONEY MANAGEMENT SERVICES, QUALITY OF LIFE PROGRAMS, ADULT DAY CARE, LIFE SKILLS TRAINING AND CARE COORDINATION.

Program Service Accomplishments

Program 1

Expenses: $1,486,147 Revenue: $1,307,104

REGISTERED PROFESSIONAL GUARDIANSHIP: SERVED AS LEGAL GUARDIAN FOR 469 ELDERLY AND DISABLED ADULTS WHO HAD BEEN VICTIMS OF ABUSE, NEGLECT OR EXPLOITATION. LOCATED SAFE PLACES FOR THEM TO RESIDE AND...

Program 2

Expenses: $983,188 Revenue: $755,373

ADULT DAY CARE:IN JUNE OF 2000, FRIENDS FOR LIFE TOOK OVER AN ADULT DAY CARE PROGRAM IN WACO, TEXAS THAT WAS SCHEDULED TO CLOSE. THE CENTER IS OPEN FROM 7:30AM TO 5:30PM MONDAY THROUGH FRIDAY AND...

ADULT DAY CARE:IN JUNE OF 2000, FRIENDS FOR LIFE TOOK OVER AN ADULT DAY CARE PROGRAM IN WACO, TEXAS THAT WAS SCHEDULED TO CLOSE. THE CENTER IS OPEN FROM 7:30AM TO 5:30PM MONDAY THROUGH FRIDAY AND PROVIDES OPPORTUNITIES FOR SOCIAL SKILLS DEVELOPMENT, ON SITE AND COMMUNITY ACTIVITIES, VOLUNTEERING, MEALS AND TRANSPORTATION. LAST YEAR THE CENTER SERVED 126 PEOPLE.

Program 3

Expenses: $496,665 Revenue: $461,453

LIFE SKILLS TRAINING:A ONE-ON-ONE PROGRAM IN WHICH STAFF WORK INDIVIDUALLY WITH CLIENTS WHO HAVE DEVELOPMENTAL DISABILITIES, TEACHING THEM SKILLS TO HELP THEM BE MORE INDEPENDENT WITHIN THE FACILITY SETTING AND POSSIBLY ASSISTING WITH THEIR MOVE BACK INTO THE COMMUNITY. APPROXIMATELY 133 INDIVIDUALS WERE SERVED IN THIS PROGRAM.

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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 $1,908,499

Program Service Revenue $2,848,483

Investment Income $27,167

Other Revenue $22,849

TOTAL REVENUE $4,806,998

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,137,201

Fundraising Expenses $9,832

Program Expenses $3,621,338

Other Expenses $809,485

TOTAL EXPENSES $3,946,686

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,806,998	$3,757,975	+0.3%
Expenses	$3,946,686	$3,476,219	+0.1%
Net Income	$860,312	$281,756	+2.1%

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

122

Volunteers

906

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

$149,583

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
B J GREAVES	PRESIDENT	1.00	Officer Director	$0	$0	$0
SANDY RAY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
LEONARD ENGLANDER	TREASURER	1.00	Officer Director	$0	$0	$0
PAM THOMASON	SECRETARY	1.00	Officer Director	$0	$0	$0
ERMA BALLENGER	DIRECTOR	1.00	Director	$0	$0	$0
JOHN MORKOVSKY	DIRECTOR	1.00	Director	$0	$0	$0
ROBIN JAMISON	DIRECTOR	1.00	Director	$0	$0	$0
TOM RAY	DIRECTOR	1.00	Director	$0	$0	$0
NANCY WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
BUDDY EDWARDS	DIRECTOR	1.00	Director	$0	$0	$0
INEZ RUSSELL	EXECUTIVE DIRECTOR	60.00	Officer	$82,417	$0	$82,417
CARLA HINES	CFO	40.00	Officer	$53,646	$0	$53,646
CAREY AMTHOR	PROGRAM OFFICER	40.00	Officer	$13,520	$0	$13,520

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	No data	No data	No data	No data
2024	$4,806,998	$3,946,686	$3,529,036	$860,312
2023	$3,757,975	$3,476,219	$2,657,520	$281,756
2022	$3,137,299	$3,169,092	$2,465,667	$-31,793
2021	$3,158,758	$2,738,827	$2,118,394	$419,931
2020	$2,869,903	$3,056,657	$2,266,599	$-186,754
2019	$2,711,493	$2,738,855	$2,182,352	$-27,362
2018	$2,350,649	$2,389,945	$2,266,582	$-39,296