Friends of Memorial Hall Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

2017

Legal Domicile

Principal Officer

Joseph Zuffante

Phone

6173063030

Tax Period

2023-01-01 to 2023-12-31

Friends of Memorial Hall Inc, founded in 2017, is a small nonprofit in the Arts, Culture & Humanities sector that reported $498K in total revenue in fiscal year 2023. Revenue surged 690% from the prior year, signaling strong growth momentum. Expenses of $426K left a modest 14% surplus.

Mission

The mission of the Friends is the historic preservation of Memorial Hall including its design and reconstruction. Built in 1792 as the residence of Samuel Dexter a member of President John Adams Cabinet the building was converted in 1888 into the Abraham Lincoln Post 11 of the Grand Army of the Republic. Post 11 later expanded to serve all veterans. Today the building is being renovated to provide a stable headquarters for veteran support and community services.

Program Service Accomplishments

Program 1

Expenses: $367,996 Revenue: $0

Historic Preservation NTEE code A84: Under a contract with the City of Boston the organization continued restoring the historic building and grounds to their 1888 appearance. Several vendors provided services and materials with principal craftsmanship from the Preservation Carpentry program at the North Bennet Street School. The building-nearly condemned in the 1990s-has undergone extensive structural and exterior rehabilitation and is on track for completion by the end of 2025. These are the expenses that came from the restricted contract funds from the Community Preservation Committee of the City of Boston

Program 2

Expenses: $13,927 Revenue: $0

Operating Support for Memorial Hall at 14 Green Street Charlestown NTEE Code A80: Provide supplemental operating support to help maintain the buildings operations including the spaces occupied by the Charlestown Learning and Lacrosse Center and the Movement Lab LLC. Both are non-profit programs providing services to over 200 Charlestown youth. Also included in this total is $3,000 in scholarships awarded to the children of Charlestown veterans.

Program 3

Expenses: $44,043 Revenue: $0

Various Restricted Giving Projects including Memorial Hall Renovation Overage NTEE code A84; $17,678 Memorial Hall Cupola Reconstruction of failing cupola NTEE code A84; $2,025 and Supplemental...

Various Restricted Giving Projects including Memorial Hall Renovation Overage NTEE code A84; $17,678 Memorial Hall Cupola Reconstruction of failing cupola NTEE code A84; $2,025 and Supplemental Renovation Expenses NTEE code A84 $9,000.

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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 $129,388

Program Service Revenue $367,996

Investment Income $145

Other Revenue $0

TOTAL REVENUE $497,529

Expense Breakdown

Grants Paid $17,158

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $425,966

Other Expenses $408,808

TOTAL EXPENSES $425,966

Year-over-Year Comparison

	2023	2022	Change
Revenue	$497,529	$62,994	+6.9%
Expenses	$425,966	$72,959	+4.8%
Net Income	$71,563	$-9,965	-8.2%

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

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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
Joseph Zuffante	President	25.00	Officer Director	$0	$0	$0
Lawrence F Stevens	Treasurer	15.00	Officer Director	$0	$0	$0
Stanley Leonard	Vice President	5.00	Officer Director	$0	$0	$0
David Hennessey	Clerk	5.00	Officer Director	$0	$0	$0
Kira Dunn	Director	5.00	Director	$0	$0	$0
Amanda Zettel	Director	5.00	Director	$0	$0	$0
Dan Noonan	Director	5.00	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	$497,529	$425,966	$94,053	$71,563
2020	$18,333	$20,633	$9,188	$-2,300
2019	$13,959	$15,978	$11,488	$-2,019
2018	$15,233	$10,427	$35,010	$4,806
2017	$99,110	$14,579	$87,144	$84,531
2016	$13,593	$11,000	$2,613	$2,593