LONGBOAT KEY 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

2019

Legal Domicile

Principal Officer

James Brown

Phone

9415044273

Tax Period

2023-01-01 to 2023-12-31

LONGBOAT KEY FOUNDATION INC, founded in 2019, is a small nonprofit in the Arts, Culture & Humanities sector that reported $555K in total revenue in fiscal year 2023. Revenue surged 46% from the prior year, signaling strong growth momentum. Expenses of $771K exceeded revenue, resulting in a 39% operating deficit.

Mission

To enhance the arts, cultural, and educational opportunities within the Town of Longboat Key.

Program Service Accomplishments

Program 1

Expenses: $754,390 Revenue: $0

Continuation of the funding and programming for completion of the Town Center Green.

Program 2

Expenses: $5,000 Revenue: $0

Support of the Paradise Center, a 501(c)(3) organization, whose mission is focused on community outreach to our local senior population.

Program 3

Expenses: $5,201 Revenue: $0

Support of Save Our Seabirds a local 501(c)(3) community organization whose mission is focused on the rescue, rehabilitation, and release of injured wild birds.

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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 $554,875

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $554,875

Expense Breakdown

Grants Paid $769,591

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $769,591

Other Expenses $1,029

TOTAL EXPENSES $770,620

Year-over-Year Comparison

	2023	2022	Change
Revenue	$554,875	$381,015	+0.5%
Expenses	$770,620	$72,817	+9.6%
Net Income	$-215,745	$308,198	-1.7%

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
James Brown	Chairperson	20	Director	$0	$0	$0
Rick Konsavage	Vice-Chairperson	10	Director	$0	$0	$0
Michael Seamon	Treasurer-Director	10	Director	$0	$0	$0
Robin Nystrom	Secretary-Director	10	Director	$0	$0	$0
Michael Garey	Director	10	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
2023	$554,875	$770,620	$155,608	$-215,745
2022	$381,015	$72,817	$371,353	$308,198