FRIENDS OF HAAC INC

EIN: 853582196 501(c)(3) Philanthropy & Grantmaking

ALEXANDRIA, VA

Total Revenue
$210,575
Total Expenses
$4,997
Total Assets
$221,645
Net Assets
$208,224
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
VA
Principal Officer
JOHN THORNBURG
Phone
7036849444
Tax Period
2023-01-01 to 2023-12-31

FRIENDS OF HAAC INC, founded in 2020, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $513K in total revenue in fiscal year 2022. Revenue surged 327% from the prior year, signaling strong growth momentum. Expenses of $625K exceeded revenue, resulting in a 22% operating deficit.

Mission

TO RAISE AND DISTRIBUTE FUNDS AND PROVIDE SUPPORT FOR THE HORATIO ALGER ASSOCIATION OF CANADA.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $210,575
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $210,575

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $4,997
TOTAL EXPENSES $4,997

Year-over-Year Comparison

2023 2022 Change
Revenue $210,575 $512,826 -0.6%
Expenses $4,997 $624,978 -1.0%
Net Income $205,578 $-112,152 -2.8%
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

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
4
Independent Members
4
Employees
N/A
Volunteers
4

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
0
$0
Total Directors
4
$1,491,679
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DENNIS WASHINGTON PRESIDENT 1.00
Director
$0 $0 $0
GREGORY ABEL DIRECTOR 1.00
Director
$0 $0 $0
TERRENCE J GIROUX SECRETARY-TREASURER 1.00
Director
$0 $454,573 $1,491,679
DAVID SOKOL VICE PRESIDENT 1.00
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 $210,575 $4,997 $221,645 $205,578
2022 $512,826 $624,978 $11,707 $-112,152
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