Flying Heels Arena Association

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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

2020

Legal Domicile

Principal Officer

Marcy Wheatley

Phone

9705315465

Tax Period

2023-01-01 to 2023-12-31

Flying Heels Arena Association, founded in 2020, is a small nonprofit in the Recreation & Sports sector that reported $213K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $240K exceeded revenue, resulting in a 12% operating deficit.

Mission

Promotion of rodeo and ranching in Grand County, CO. by providing acitivities and entertainment for contestants and rodeo enthusiasts.

Program Service Accomplishments

Program 1

Expenses: $230,915 Revenue: $122,349

Weekly rodeo events during summer months.

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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 $213,307

Program Service Revenue $0

Investment Income $173

Other Revenue $0

TOTAL REVENUE $213,480

Expense Breakdown

Grants Paid $500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $230,915

Other Expenses $239,272

TOTAL EXPENSES $239,772

Year-over-Year Comparison

	2023	2022	Change
Revenue	$213,480	$227,619	-0.1%
Expenses	$239,772	$188,112	+0.3%
Net Income	$-26,292	$39,507	-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
Tish Linke-Krempin	Chair	10.00	Director	$0	$0	$0
Lorene Linke	Director	5.00	Director	$0	$0	$0
Marcy Wheatley	Treasurer	5.00	Director	$0	$0	$0
Jolene Linke	Director	5.00	Director	$0	$0	$0
Julie Martin	Director	5.00	Director	$0	$0	$0
Kayla Boyd	Director	5.00	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
2024	No data	No data	No data	No data
2023	$213,480	$239,772	$98,072	$-26,292
2022	$227,619	$188,112	$105,634	$39,507