Friends of Recreation Inc (EIN 812812213) - 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

2016

Legal Domicile

Principal Officer

Alicia Mullen

Phone

5618351313

Tax Period

2023-10-01 to 2024-09-30

Friends of Recreation Inc, founded in 2016, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $342K in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. The organization ran a surplus of $294K, a strong 86% operating margin.

Mission

To enhance and support the public recreational programs and facilities in the Town of Palm Beach, promoting community engagement and wellbeing.

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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 $309,898

Program Service Revenue $0

Investment Income $32,359

Other Revenue $0

TOTAL REVENUE $342,257

Expense Breakdown

Grants Paid $30,000

Salaries & Benefits $0

Fundraising Expenses $8,781

Program Expenses $30,000

Other Expenses $18,304

TOTAL EXPENSES $48,304

Year-over-Year Comparison

	2023	2022	Change
Revenue	$342,257	$293,758	+0.2%
Expenses	$48,304	$66,225	-0.3%
Net Income	$293,953	$227,533	+0.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Matthew Smith	Chairman	1.00	Officer Director	$0	$0	$0
Michael Ainslie	Vice Chairman	1.00	Officer Director	$0	$0	$0
Darlene Jordan	Vice Chairman	1.00	Officer Director	$0	$0	$0
Michael Kluger	Director	1.00	Director	$0	$0	$0
Alicia Mullen	Treasurer	1.00	Director	$0	$0	$0
Steve Smith	Director	1.00	Director	$0	$0	$0
Suzanne Ainslie	Director	1.00	Director	$0	$0	$0
Robert Crespi	Director	1.00	Director	$0	$0	$0
Cody Crowell	Director	1.00	Director	$0	$0	$0
Natalie Emerson	Director	1.00	Director	$0	$0	$0
Kimberly Goodwin	Director	1.00	Director	$0	$0	$0
Kelly Grace	Director	1.00	Director	$0	$0	$0
Jason Kalisman	Director	1.00	Director	$0	$0	$0
Sara Maggio	Director	1.00	Director	$0	$0	$0
Marley Overman	Director	1.00	Director	$0	$0	$0
Todd Peter	Director	1.00	Director	$0	$0	$0
Gary Pohrer	Director	1.00	Director	$0	$0	$0
Carolyn Ryan	Director	1.00	Director	$0	$0	$0
Diane Sterne	Director	1.00	Director	$0	$0	$0
Tara Vecellio	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	$342,257	$48,304	$1,401,280	$293,953
2023	$293,758	$66,225	$994,182	$227,533
2023	$293,758	$66,225	$994,182	$227,533
2022	$141,584	$56,759	$705,522	$84,825
2021	$302,329	$22,027	$666,673	$280,302
2020	$467,199	$82,693	$554,728	$384,506
2019	$67,473	$122,308	$3,192,766	$-54,835
2018	$2,472,273	$2,584,474	$4,485,620	$-112,201

Friends of Recreation Inc