SENIOR CENTER FRIENDS

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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

SUSAN COBB

Tax Period

2024-01-01 to 2024-12-31

SENIOR CENTER FRIENDS, founded in 2018, is a small nonprofit in the Human Services sector that reported $204K in total revenue in fiscal year 2024.

Mission

To support the Traverse City Senior Center Network

Program Service Accomplishments

Program 1

Expenses: $204,449 Revenue: $0

Accept donations for the new building and turn the money over to the City of Traverse City

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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 $202,963

Program Service Revenue $0

Investment Income $1,529

Other Revenue $0

TOTAL REVENUE $204,492

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $204,449

Other Expenses $204,501

TOTAL EXPENSES $204,501

Year-over-Year Comparison

	2024	2023	Change
Revenue	$204,492	N/A	N/A
Expenses	$204,501	N/A	N/A
Net Income	$-9	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

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
Steve Nyland	President	5.00	Officer	$0	$0	$0
Pam Ward	Vice-President	5.00	Officer	$0	$0	$0
Sue Hull	Secretary	5.00	Officer	$0	$0	$0
Susan Cobb	Treasurer	1.00	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	$204,492	$204,501	$2,201	$-9