FOREVER 56 FOUNDATION 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

2018

Legal Domicile

Tax Period

2024-01-01 to 2024-12-31

FOREVER 56 FOUNDATION INC, founded in 2018, is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $56K in total revenue in fiscal year 2024. Net assets of $115K represent 25 months of operating reserves.

Mission

FOREVER 56 FOUNDATION PROVIDES SUPPORT AND SCHOLARSHIPS TO YOUTH AND ORGANIZATIONS THAT EXEMPLIFY THE SPIRIT OF ERIC OCONNOR

Program Service Accomplishments

Program 1

Expenses: $55,121

GIVING OUT SCHOLARSHIPS AND SUPPORTING YOUTH ORGANIZATIONS THAT EXEMPLIFY ERICS SPIRIT

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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 (2024)

Revenue Breakdown

Contributions & Grants $48,708

Program Service Revenue $0

Investment Income $1,188

Other Revenue $5,959

TOTAL REVENUE $55,855

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $55,121

Other Expenses $55,346

TOTAL EXPENSES $55,346

Year-over-Year Comparison

	2024	2023	Change
Revenue	$55,855	N/A	N/A
Expenses	$55,346	N/A	N/A
Net Income	$509	N/A	N/A

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

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
MIKE KRAWZCYK	DIRECTOR	1.00	Director	$0	$0	$0
JASON EYLER	DIRECTOR	1.00	Director	$0	$0	$0
KOREY TRAINOR	DIRECTOR	1.00	Director	$0	$0	$0
STEVE OCONNOR	PRESIDENT	2.00	Officer	$0	$0	$0
TONY OCONNOR	VICE PRESIDENT	2.00	Officer	$0	$0	$0
SHERRY OCONNOR	TREASURER	3.00	Officer	$0	$0	$0
KRISTIN OCONNOR	SECRETARY	2.00	Officer	$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	$55,855	$55,346	$114,863	$509
2023	$59,982	$38,643	$113,068	$21,339