FRIENDS OF COLETTI-MAGNI PARK 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

2022

Legal Domicile

Principal Officer

ELIZABETH METRAUX

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF COLETTI-MAGNI PARK INC, founded in 2022, is a small nonprofit in the Community Improvement sector that reported $220K in total revenue in fiscal year 2023. Expenses of $210K left a modest 4% surplus.

Mission

FRIENDS OF COLETTI-MAGNI PARK IS A RESIDENT-LED ORGANIZATION COMMITTED TO ENHANCING THE NEIGHBORHOOD THROUGH COLETTI-MAGNI PARK BEAUTIFICATION AND CULTURAL GATHERINGS. THE ANNUAL HALLOWEEN PUMPKIN CARVING EVENT IS HELD IN OCTOBER.

Program Service Accomplishments

Program 1

Expenses: $200,000 Revenue: $0

RECEIVED $200,000 FROM THE COMMONWEALTH OF MASSACHUSETTS THROUGH AN EARMARK IN THE COMMONWEALTH'S FISCAL 2023 BUDGET. EARMARK 7008-1116 WAS GRANTED TO THE FRIENDS OF COLETTI-MAGNI PARK FOR THE...

RECEIVED $200,000 FROM THE COMMONWEALTH OF MASSACHUSETTS THROUGH AN EARMARK IN THE COMMONWEALTH'S FISCAL 2023 BUDGET. EARMARK 7008-1116 WAS GRANTED TO THE FRIENDS OF COLETTI-MAGNI PARK FOR THE PURPOSE OF BEAUTIFICATION OF THE COLETTI-MAGNI PARK LOCATED IN NEWTON MA. FUNDING FROM THE COMMONWEALTH WAS RECEIVED IN TWO INSTALLMENTS: $100,000 IN FEBRUARY 2023 AND $100,000 IN JULY 2023. BEAUTIFICATION OF THE COLETTI-MAGNI PARK WILL BE PERFORMED AND MANAGED BY THE CITY OF NEWTON PARKS RECREATION AND CULTURE DEPARTMENT. FRIENDS OF COLETTI-MAGNI PARK DONATED $200,000 TO THE CITY OF NEWTON FOR PARK BEAUTIFICATION EFFORTS AND ELECTRICAL INFRASTRUCTURE IMPROVEMENTS AT THE COLETTI-MAGNI PARK. THIS DONATION WAS APPROVED BY THE NEWTON CITY COUNCIL ON JUNE 20 2023.

Program 2

Expenses: $9,790 Revenue: $0

FRIENDS OF COLETTI-MAGNI PARK HOSTED A COMMUNITY HALLOWEEN PUMPKIN CARVING EVENT ON OCTOBER 28 2023. THE EVENT IS FREE TO THE PUBLIC AND ATTRACTED 300-350 PARTICIPANTS INCLUDING RESIDENTS AND...

FRIENDS OF COLETTI-MAGNI PARK HOSTED A COMMUNITY HALLOWEEN PUMPKIN CARVING EVENT ON OCTOBER 28 2023. THE EVENT IS FREE TO THE PUBLIC AND ATTRACTED 300-350 PARTICIPANTS INCLUDING RESIDENTS AND NON-RESIDENTS OF NEWTON MA. THE EVENT CONSISTED OF PUMPKIN CARVING AND PAINTING YARD GAMES AND BLUEGRASS MUSIC DURING THE DAY. THE EVENING SESSION INCLUDED A PUMPKIN WALK WITH CANDLELIGHTS THROUGHOUT THE PARK SO THAT PARTICIPANTS COULD WALK THROUGH THE PARK IN THEIR HALLOWEEN COSTUMES AND SEE ALL THE CARVED AND PAINTED PUMPKINS ON DISPLAY. ALL PUMPKINS AND MATERIALS USED TO PAINT AND CARVE THE PUMPKINS WERE FREE TO THE PUBLIC. THIS EVENT WAS FUNDED THROUGH CONTRIBUTIONS FROM THE VILLAGE BANK THE COMMUNITY BANK LOCATED IN NEWTON MA. THE VILLAGE BANK DONATED $20,000 TO THE FRIENDS OF COLETTI-MAGNI PARK TO SUPPORT COMMUNITY ENGAGEMENT ACTIVITIES LIKE THE HALLOWEEN EVENT.

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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 $220,000

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $220,000

Expense Breakdown

Grants Paid $200,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $209,790

Other Expenses $10,240

TOTAL EXPENSES $210,240

Year-over-Year Comparison

	2023	2022	Change
Revenue	$220,000	N/A	N/A
Expenses	$210,240	N/A	N/A
Net Income	$9,760	N/A	N/A

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
ELIZABETH METRAUX	DIRECTOR	2.00	Officer Director	$0	$0	$0
MARIA PROIA	DIRECTOR	1.00	Officer Director	$0	$0	$0
JOHN DE VITO	DIRECTOR	1.00	Officer Director	$0	$0	$0
ANTHONY PELLEGRINI	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES PROIA	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA FORSYTHE	DIRECTOR	1.00	Director	$0	$0	$0
BO PELLEGRINI	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL RICHARDSON	DIRECTOR	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
2023	$220,000	$210,240	$10,053	$9,760