Richardson Improvement Corporation

EIN: 810552449 501(c)(3) Recreation & Sports

Richardson, TX

Total Revenue
N/A
Total Expenses
$9,879
Total Assets
$23,634
Net Assets
$21,300
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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
TX
Phone
9727444074
Tax Period
2023-10-01 to 2024-09-30

Mission

To provide professional assistance exclusively to the City of Richardson in the form of consulting services, planning processes, grant writing services, and the professional parks and recreation services at a cost below the cost that would be incurred if these services were obtained on the open market.

Program Service Accomplishments

Program 1
Expenses: $0 Revenue: $0

Writing and submitting of major grant requests for the City of Richardson's Parks and Recreation Department facilities.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $0

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $0
Other Expenses $9,879
TOTAL EXPENSES $9,879

Year-over-Year Comparison

2023 2022 Change
Revenue N/A $740 -1.0%
Expenses $9,879 $1,602,607 -1.0%
Net Income N/A $-1,601,867 N/A
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

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Governance

Voting Members
3
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
3
$975,103
Total Directors
3
$975,103
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Donald G Magner President 1.0
Officer Director
$0 $95,266 $453,238
Kent Pfeil Vice President 1.0
Officer Director
$0 $75,038 $324,604
Yvonne Falgout Secretary/Treasurer 1.0
Officer Director
$0 $37,815 $197,261
Lori Smeby Former Secretary/Treasurer 0.0
$0 $30,775 $189,703
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 $9,879 $23,634 No data
2023 $740 $1,602,607 $31,179 $-1,601,867
2022 No data $10,237 $1,641,546 No data
2021 $2 $11,556 $1,653,568 $-11,554
2020 $35 $9,050 $1,664,687 $-9,015
2019 $42 $10,850 $1,671,852 $-10,808
2018 $5,309 $11,598 $1,682,465 $-6,289
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