FRIENDS OF MARTIN'S PARK INC

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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

WILLIAM RICHARD

Phone

6175900400

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF MARTIN'S PARK INC, founded in 2016, is a micro nonprofit in the Recreation & Sports sector that reported $86K in total revenue in fiscal year 2023. Revenue surged 66% from the prior year, signaling strong growth momentum. Expenses of $309K exceeded revenue, resulting in a 261% operating deficit.

Mission

TO RAISE FUNDS FOR CONSTRUCTION AND MAINTENANCE OF A UNIVERSALLY ACCESSIBLE PARK AND PLAYGROUND TO HONOR MARTIN RICHARD AND HIS LEGACY.

Program Service Accomplishments

Program 1

Expenses: $259,690

OPERATIONS AND MAINTENANCE OF MARTIN'S PARK TO HONOR THE MEMORY OF MARTIN RICHARD. THE PARK OPENED TO THE PUBLIC IN JUNE 2019.

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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 $61,277

Program Service Revenue $0

Investment Income $24,346

Other Revenue $0

TOTAL REVENUE $85,623

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $259,690

Other Expenses $308,757

TOTAL EXPENSES $308,757

Year-over-Year Comparison

	2023	2022	Change
Revenue	$85,623	$51,473	+0.7%
Expenses	$308,757	$250,449	+0.2%
Net Income	$-223,134	$-198,976	+0.1%

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

N/A

Volunteers

125

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
WILLIAM RICHARD	PRESIDENT	10.0	Officer Director	$0	$0	$0
THOMAS CROHAN	TREASURER	2.0	Officer Director	$0	$0	$0
CHARLAYNE MURRELL-SMITH	SECRETARY	2.0	Officer Director	$0	$0	$0
CHRIS COOK	DIRECTOR	2.0	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	No data	No data	No data	No data
2023	$85,623	$308,757	$4,549,644	$-223,134
2022	$51,473	$250,449	$4,187,005	$-198,976
2021	$677,726	$217,270	$5,263,012	$460,456
2020	$26,125	$115,482	$4,589,081	$-89,357
2019	$232,624	$133,783	$4,319,063	$98,841
2018	$1,588,183	$506,400	$3,930,100	$1,081,783