BUSINESS FOR A FAIR MINIMUM WAGE 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

HOLLY SKLAR

Phone

3019605281

Tax Period

2024-01-01 to 2024-12-31

BUSINESS FOR A FAIR MINIMUM WAGE INC, founded in 2018, is a small nonprofit in the Community Improvement sector that reported $394K in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring.

Mission

TO EDUCATE ABOUT THE BUSINESS CASE FOR A HIGHER MINIMUM WAGE, AND TO ORGANIZE AND PUBLICIZE BUSINESS SUPPORT FOR RAISING THE MINIMUM WAGE AND OTHER FAIR EMPLOYMENT POLICIES.

Program Service Accomplishments

Program 1

Expenses: $377,078 Revenue: $225,000

EDUCATE AND ORGANIZE BUSINESS LEADERS IN SUPPORT OF A HIGHER MINIMUM WAGE AND OTHER FAIR EMPLOYMENT POLICIES AT THE FEDERAL, STATE AND LOCAL LEVEL. SHARE BUSINESS VIEWS WITH POLICYMAKERS AND THE...

EDUCATE AND ORGANIZE BUSINESS LEADERS IN SUPPORT OF A HIGHER MINIMUM WAGE AND OTHER FAIR EMPLOYMENT POLICIES AT THE FEDERAL, STATE AND LOCAL LEVEL. SHARE BUSINESS VIEWS WITH POLICYMAKERS AND THE PUBLIC THROUGH POLICY MEMOS AND REPORTS, MEETINGS, BRIEFINGS, HEARINGS, PRESS EVENTS, BUSINESS TOURS AND MORE. IDENTIFY, TRAIN AND ENGAGE DIVERSE BUSINESS SPOKESPEOPLE FOR PUBLIC EVENTS, MEDIA REQUESTS AND HEARINGS. MAKE THE BUSINESS AND ECONOMIC CASE FOR RAISING THE MINIMUM WAGE AND OTHER FAIR EMPLOYMENT POLICIES THROUGH OPINION MEDIA, NEWS MEDIA AND SOCIAL MEDIA.

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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 $169,082

Program Service Revenue $225,000

Investment Income $0

Other Revenue $0

TOTAL REVENUE $394,082

Expense Breakdown

Grants Paid $0

Salaries & Benefits $249,315

Fundraising Expenses $0

Program Expenses $377,078

Other Expenses $151,392

TOTAL EXPENSES $400,707

Year-over-Year Comparison

	2024	2023	Change
Revenue	$394,082	$498,695	-0.2%
Expenses	$400,707	$534,697	-0.3%
Net Income	$-6,625	$-36,002	-0.8%

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

$165,679

Total Directors

$175,614

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HOLLY SKLAR	PRESIDENT & CEO	40.00	Officer Director	$149,000	$0	$149,000
ALISSA BARRON-MENZA	DIRECTOR	2.00	Officer Director	$16,679	$0	$16,679
MICHAEL KANTER	DIRECTOR	1.00	Director	$0	$0	$0
DENISE BOWYER	DIRECTOR	1.00	Director	$3,285	$0	$3,285
LEWIS PRINCE	DIRECTOR	3.00	Director	$6,650	$0	$6,650

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	$394,082	$400,707	$1,883	$-6,625
2023	$498,695	$534,697	$8,508	$-36,002
2022	$359,150	$471,990	$44,510	$-112,840
2021	$579,207	$468,644	$157,350	$110,563
2020	$450,250	$434,593	$46,787	$15,657
2019	$443,549	$374,338	$31,130	$69,211

BUSINESS FOR A FAIR MINIMUM WAGE INC