THE FRIENDS OF THE WESTFIELD 350 I… - Form 990 Financial Data

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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

2018

Legal Domicile

Principal Officer

HARRY ROCK

Phone

4135683101

Tax Period

2020-01-01 to 2020-12-31

THE FRIENDS OF THE WESTFIELD 350 INC, founded in 2018, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $4K in total revenue in fiscal year 2020. Revenue fell 94% from the prior year — a significant decline worth monitoring. Expenses of $53K exceeded revenue, resulting in a 1197% operating deficit.

Mission

TO WORK IN PARTNERSHIP WITH THE MAYOR'S OFFICE OF THE CITY OF WESTFIELD IN PLAN AND DELIVER A VARIETY OF ACTIVITIES AND EVENTS TO CELEBRATE THE 350TH FOUNDING BIRTHDAY OF THE CITY THROUGHOUT 2019. THE PLANNING IS TO BE INCLUSIVE AND WELCOMING OF ALL THE RESIDENTS, AGENCIES, ORGANIZATIONS, CHURCHES,SCHOOLS AND BUSINESSES OF THE CITY WITH AN EMPHASIS ON EMBRACING ALL OF THE RICH HISTORY, HERITAGE, CULTURES AND LANDMARKS THAT MADE THIS DIVERSE COMMUNITY SO SPECIAL SINCE MAY 19, 1669.

Program Service Accomplishments

Program 1

FIRST NIGHT. A NEW YEARS EVE FAMILY FRIENDLY EVENT THAT INCLUDED A PARADE, ICE SCULPTORS, ICE SKATING, FOOD VENDORS AND FIREWORKS.

Program 2

A HISTORICAL BOOK ON THE HISTORY OF WESTFIELD INCLUDING WRITE UPS ON CURRENT BUSINESSES.

Program 3

Expenses: $41,200

A WEEKEND OF A NUMBER OF EVENTS INCLUDING A PARADE, FIREWORKS AND A ROAD RACE.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $0

Other Revenue $4,067

TOTAL REVENUE $4,067

Expense Breakdown

Grants Paid $31,200

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $41,200

Other Expenses $21,544

TOTAL EXPENSES $52,744

Year-over-Year Comparison

	2020	2019	Change
Revenue	$4,067	$66,855	-0.9%
Expenses	$52,744	$196,976	-0.7%
Net Income	$-48,677	$-130,121	-0.6%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HARRY ROCK	PRESIDENT	30.00	Officer Director	$0	$0	$0
ANDREA PENNINGTON	TREASURER	15.00	Officer Director	$0	$0	$0
MARGARET CHAMPAGNE	CLERK	5.00	Officer Director	$0	$0	$0
JOYCE PERIGRIN	DIRECTOR	5.00	Director	$0	$0	$0
PATRICK BERRY	DIRECTOR	5.00	Director	$0	$0	$0
CYNTHIA GAYLORD	DIRECTOR	5.00	Director	$0	$0	$0
PETER MILLER	DIRECTOR	5.00	Director	$0	$0	$0
MARY O'CONNELL	DIRECTOR	5.00	Director	$0	$0	$0
GINO PAGLUICA	DIRECTOR	5.00	Director	$0	$0	$0
VANESSA DIANA	DIRECTOR	5.00	Director	$0	$0	$0
AMBER DANAHEY	DIRECTOR	5.00	Director	$0	$0	$0
KENNETH STOMSKI	DIRECTOR	5.00	Director	$0	$0	$0
PAUL NUNEZ	DIRECTOR	5.00	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
2020	$4,067	$52,744	$46,417	$-48,677

THE FRIENDS OF THE WESTFIELD 350 INC