PHOENIX PRIDE 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

1990

Legal Domicile

Principal Officer

MIKE FORNELLI

Phone

6022777433

Tax Period

2024-01-01 to 2024-12-31

PHOENIX PRIDE INC, founded in 1990, is a community nonprofit in the Civil Rights & Advocacy sector that reported $2.0M in total revenue in fiscal year 2024. Expenses of $2.5M exceeded revenue, resulting in a 24% operating deficit.

Mission

PHOENIX PRIDE UNITES, EDUCATES, AND ENGAGES PEOPLE TO SUPPORT AND EMPOWER THE LGBTQ COMMUNITY AND OUR ALLIES.

Program Service Accomplishments

Program 1

Expenses: $2,261,419 Revenue: $1,655,056

THIS YEARS 27TH ANNUAL PHOENIX PRIDE PARADE BROUGHT TOGETHER OVER 210 DIVERSE PARADE ENTRIES 4,500 INDIVIDUAL PARTICIPANTS FROM THE METROPOLITAN PHOENIX AREA AND BEYOND, WITH APPROXIMATELY 14,000...

THIS YEARS 27TH ANNUAL PHOENIX PRIDE PARADE BROUGHT TOGETHER OVER 210 DIVERSE PARADE ENTRIES 4,500 INDIVIDUAL PARTICIPANTS FROM THE METROPOLITAN PHOENIX AREA AND BEYOND, WITH APPROXIMATELY 14,000 GENERAL PUBLIC SPECTATORS. PARTICIPANTS INCLUDED LOCAL, REGIONAL, AND NATIONAL LGBTQ AND LGBTQ-FRIENDLY INDIVIDUALS AND ORGANIZATIONS FROM THE NON-PROFIT, PRIVATE, AND PUBLIC SECTORS. PARTICIPATION BY GOVERNMENT OFFICIALS, GOVERNMENT SERVICES, PRIVATE CORPORATIONS, AND CELEBRITIES CONTINUED TO RAISE AWARENESS AMONG SPECTATORS AND THE GENERAL PUBLIC OF THEIR SUPPORT FOR A PROSPEROUS LGBTQ COMMUNITY.

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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 $275,770

Program Service Revenue $1,416,118

Investment Income $15,653

Other Revenue $276,893

TOTAL REVENUE $1,984,434

Expense Breakdown

Grants Paid $76,670

Salaries & Benefits $370,807

Fundraising Expenses $126,218

Program Expenses $2,261,419

Other Expenses $2,013,167

TOTAL EXPENSES $2,460,644

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,984,434	$2,070,369	0.0%
Expenses	$2,460,644	$2,495,045	0.0%
Net Income	$-476,210	$-424,676	+0.1%

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

Volunteers

300

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

$139,198

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL FORNELLI	EXECUTIVE DIRECTOR	040.00	Officer	$125,519	$13,679	$139,198
DANIEL ECKSTROM	PRESIDENT	004.00	Officer Director	$0	$0	$0
PHILIP SIROIS	VICE PRESIDENT	004.00	Officer Director	$0	$0	$0
JOSH KUHN-MCROBERTS	TREASURER	004.00	Officer Director	$0	$0	$0
MICHAEL BEDRICK	SECRETARY	004.00	Officer Director	$0	$0	$0
JONATHAN HENSLEY	DIRECTOR AT LARGE	002.00	Director	$0	$0	$0
AIMEE MEREDITH	DIRECTOR	002.00	Director	$0	$0	$0
JADE RICE	DIRECTOR	002.00	Director	$0	$0	$0
ISAIAH HERNANDEZ	DIRECTOR	002.00	Director	$0	$0	$0
TAIT MOLINE	DIRECTOR UNTIL 05/08/24	002.00	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	$1,984,434	$2,460,644	$717,788	$-476,210
2023	$2,070,369	$2,495,045	$1,209,737	$-424,676
2022	$2,727,136	$2,499,988	$1,629,175	$227,148
2021	$2,632,851	$1,769,311	$1,959,458	$863,540
2020	$414,046	$607,887	$802,644	$-193,841
2019	$2,013,327	$1,749,438	$793,153	$263,889
2018	$1,876,464	$1,608,046	$439,657	$268,418