FULLMER LEGACY FOUNDATION

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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

DAVID BUTTERFIELD

Phone

4357703975

Tax Period

2023-01-01 to 2023-12-31

FULLMER LEGACY FOUNDATION, founded in 2018, is a community nonprofit in the Youth Development sector that reported $2.6M in total revenue in fiscal year 2023. Revenue surged 681% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.3M, a strong 89% operating margin.

Mission

HELP UNDERPRIVILEGED AND AT-RISK YOUTH LEARN THE SKILLS OF DISCIPLINE, SPORTSMANSHIP, AND RESILIENCE THROUGH BOXING.

Program Service Accomplishments

Program 1

Expenses: $254,675

THE UTAH LEGISLATURE BUDGETED $2,000,000 TO BE USED TO BUILD AN OPERATING FACILITY THAT WILL HAVE A BOXING GYM. THE BUILDING WILL BE BUILT ON GOVERNMENT LAND WHICH IS BEING LEASED TO THE FOUNDATION FOR 50 YEARS BELOW FMV. ACTUAL PAID LEASE EXPENSE EACH YEAR IS $1. THE REMAINING FMV OF THE LEASE FOR 50 YEARS IS RECOGNIZED AS IN-KIND RENT DONATED FOR USE OF THE PROPERTY. DURING THE LAST QUARTER OF 2022 THE FOUNDATION ENTERED AN AGREEMENT WITH AN ENGINEERING FIRM TO GET THE BUILDING PROCESS MOVING FORWARD. IN 2023 THERE WAS MORE FOCUS ON APPLYING FOR GRANTS AND FIND OTHER FUNDING. THE FOUNDATION RECEIVED IN CASH $1,000,000 OF THE BUDGETED FUNDS FROM THE STATE OF UTAH.

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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 $2,519,500

Program Service Revenue $0

Investment Income $81,714

Other Revenue $0

TOTAL REVENUE $2,601,214

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,500

Fundraising Expenses $13,299

Program Expenses $254,675

Other Expenses $280,440

TOTAL EXPENSES $296,940

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,601,214	$332,923	+6.8%
Expenses	$296,940	$90,351	+2.3%
Net Income	$2,304,274	$242,572	+8.5%

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

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

$16,500

Total Directors