Steele Memorial Benefit Association

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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

1977

Legal Domicile

Principal Officer

Jenny Tracy

Phone

2087565604

Tax Period

2022-10-01 to 2023-09-30

Steele Memorial Benefit Association, founded in 1977, is a micro nonprofit that reported $66K in total revenue in fiscal year 2022. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $84K exceeded revenue, resulting in a 27% operating deficit.

Mission

The Foundation benefits Steele Memorial Medical Center and the community it serves.

Program Service Accomplishments

Program 1

Expenses: $70,201

The Foundation conducts fundraising activities to purchase capital equipment and supplement operational needs of Steele Memorial Medical Center and the community it serves. For the year ended...

The Foundation conducts fundraising activities to purchase capital equipment and supplement operational needs of Steele Memorial Medical Center and the community it serves. For the year ended September 30, 2023, the Foundation contributed $70,201 towards medical equipment for the Medical Center.

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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 (2022)

Revenue Breakdown

Contributions & Grants $65,665

Program Service Revenue $0

Investment Income $226

Other Revenue $0

TOTAL REVENUE $65,891

Expense Breakdown

Grants Paid $70,201

Salaries & Benefits $0

Fundraising Expenses $2,336

Program Expenses $70,201

Other Expenses $13,448

TOTAL EXPENSES $83,649

Year-over-Year Comparison

	2022	2021	Change
Revenue	$65,891	$120,068	-0.5%
Expenses	$83,649	$134,725	-0.4%
Net Income	$-17,758	$-14,657	+0.2%

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

$55,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mike England	Vice Chair	1.00	Officer Director	$0	$0	$0
Karen Whitworth	Chair	1.00	Officer Director	$0	$0	$0
Jean Anders	Secretary/Treasurer	1.00	Officer Director	$0	$0	$0
Sally Edwards	Director	1.00	Director	$0	$0	$0
Robert Perry	Director	1.00	Director	$0	$0	$0
Marti Bingham	Director (Beg Nov 2022)	1.00	Director	$0	$0	$0
Chimerie Pakuer	Director (Beg Nov 2022)	1.00	Director	$0	$0	$0
Ross Cole	Director (Beg Nov 2022)	1.00	Director	$0	$0	$0
Noreen Skelton	Director (Beg Nov 2022)	1.00	Director	$0	$0	$0
Jenny Tracy	Foundation Director	6.00	Officer	$0	$0	$55,500

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
2023	$65,891	$83,649	$152,633	$-17,758
2022	$120,068	$134,725	$170,391	$-14,657
2021	$316,719	$583,561	$508,578	$-266,842
2020	$196,701	$161,944	$451,890	$34,757
2019	$105,190	$198,246	$417,133	$-93,056
2018	$51,902	$184,052	$510,189	$-132,150