NORRIS PENROSE LEGACY FOUNDATION (EIN 863390659) - Form 990 Financial Analysis & Trantor Score

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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

2021

Legal Domicile

Principal Officer

MICHAEL JORGENSEN

Phone

7196351101

Tax Period

2024-02-01 to 2025-01-31

NORRIS PENROSE LEGACY FOUNDATION, founded in 2021, is a community nonprofit in the Recreation & Sports sector that reported $1.8M in total revenue in fiscal year 2024. Revenue fell 77% from the prior year — a significant decline worth monitoring.

Mission

TO ACQUIRE AND CONTINUE THE OPERATION, MAINTENANCE, AND CAPITAL IMPROVEMENTS OF NORRIS PENROSE EVENT CENTER (NPEC), SO AS TO CONTINUE THE LESSENING OF THE BURDEN OF ANY LOCAL GOVERNMENT TO FINANCIALLY SUPPORT THE COMMUNITY EVENTS HELD AT NPEC.

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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 $149,630

Program Service Revenue $1,258,933

Investment Income $6,068

Other Revenue $394,245

TOTAL REVENUE $1,808,876

Expense Breakdown

Grants Paid $106,000

Salaries & Benefits $571,126

Fundraising Expenses $0

Program Expenses $480,214

Other Expenses $1,082,132

TOTAL EXPENSES $1,759,258

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,808,876	$7,915,633	-0.8%
Expenses	$1,759,258	$5,299,022	-0.7%
Net Income	$49,618	$2,616,611	-1.0%

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

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

$197,310

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE JORGENSEN	PRESIDENT	1.00	Officer Director	$0	$0	$0
RICH BENDER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
RALPH BRADEN	SECRETARY	1.00	Officer Director	$0	$0	$0
RICK POWELL	TREASURER	1.00	Officer Director	$0	$0	$0
JERRY BIGGS	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT BRYAN	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN CHILTON	DIRECTOR	1.00	Director	$0	$0	$0
MATT GRAGE	DIRECTOR	1.00	Director	$0	$0	$0
GARY MARKLE	DIRECTOR	1.00	Director	$0	$0	$0
MIKE MCCOY	DIRECTOR	1.00	Director	$0	$0	$0
BOBBY NORRIS	DIRECTOR	1.00	Director	$0	$0	$0
JEFF RENEHAN	DIRECTOR	1.00	Director	$0	$0	$0
CAROLE SONDRUP	DIRECTOR	1.00	Director	$0	$0	$0
CATHERINE STEELE	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
BILL TUTT	DIRECTOR	1.00	Director	$0	$0	$0
THAYER TUTT	DIRECTOR	1.00	Director	$0	$0	$0
KYLE PARK	GENERAL MANAGER	30.00	Officer	$159,900	$37,410	$197,310

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
2025	$1,808,876	$1,759,258	$7,146,787	$49,618
2024	$7,915,633	$5,299,022	$7,381,121	$2,616,611

NORRIS PENROSE LEGACY FOUNDATION