FRIENDS OF ST MICHAEL

EIN: 872670688 501(c)(3) Education

Petoskey, MI

Total Revenue
$245,819
Total Expenses
$288,408
Total Assets
$13,382
Net Assets
$-34,018
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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
MI
Principal Officer
Bret Keefe
Phone
2313308272
Tax Period
2022-01-01 to 2022-12-31

FRIENDS OF ST MICHAEL, founded in 2021, is a small nonprofit in the Education sector that reported $246K in total revenue in fiscal year 2022. Revenue surged 32% from the prior year, signaling strong growth momentum. Expenses of $288K exceeded revenue, resulting in a 17% operating deficit.

Mission

The primary exempt purpose of Friends of St. Michael is promoting Classical Catholic education in Northern Michigan.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $221,316
Program Service Revenue $23,454
Investment Income $19
Other Revenue $1,030
TOTAL REVENUE $245,819

Expense Breakdown

Grants Paid $87,797
Salaries & Benefits $130,992
Fundraising Expenses $0
Program Expenses $288,408
Other Expenses $69,619
TOTAL EXPENSES $288,408

Year-over-Year Comparison

2022 2021 Change
Revenue $245,819 $186,531 +0.3%
Expenses $288,408 $177,960 +0.6%
Net Income $-42,589 $8,571 -6.0%
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

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Governance

Voting Members
3
Independent Members
3
Employees
14
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
3
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Lizette Bondy President 5
Officer
$0 $0 $0
Gail Kozlowski Vice President 5
Officer
$0 $0 $0
Bret Keefe Secretary-Treasurer 5
Officer
$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
2022 $245,819 $288,408 $13,382 $-42,589
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