Friends of Florence (EIN 911878427) - 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

1998

Legal Domicile

Phone

2023333705

Tax Period

2024-01-01 to 2024-12-31

Friends of Florence, founded in 1998, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.0M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Net assets of $4.5M represent 54 months of operating reserves.

Mission

Preserving and enhancing the cultural and historical integrity of the arts found in the city and region of Florence Italy and to increase public understanding and appreciation through educational programs and events.

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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 $905,647

Program Service Revenue $0

Investment Income $146,996

Other Revenue $-42,606

TOTAL REVENUE $1,010,037

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $8,288

Program Expenses $839,071

Other Expenses $1,058,244

TOTAL EXPENSES $1,058,244

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,010,037	$1,076,392	-0.1%
Expenses	$1,058,244	$1,245,221	-0.2%
Net Income	$-48,207	$-168,829	-0.7%

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

N/A

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	Role	Reportable Comp	Other Comp	Total
Simonetta Brandolini d'Adda	President	Officer Director	$0	$0	$0
Michael Collins	Vice President	Officer Director	$0	$0	$0
Joann K Gardner	Secretary	Officer Director	$0	$0	$0
Marchese Piero Antinori	Trustee	Director	$0	$0	$0
James P Morton	Trustee	Director	$0	$0	$0
Elissa Cullman	Trustee	Director	$0	$0	$0
Kathe Dyson	Trustee	Director	$0	$0	$0
Phillip Hughes	Treasurer	Officer Director	$0	$0	$0
Thomas Fries	Trustee	Director	$0	$0	$0
Stacy Simon	Trustee	Director	$0	$0	$0
Susan Boswell	Trustee	Director	$0	$0	$0
William Mayer	Trustee	Director	$0	$0	$0
Marchesa Rosaria Frescobaldi	Trustee	Director	$0	$0	$0
Kent McClelland	Trustee	Director	$0	$0	$0
Robert Craine	Trustee	Director	$0	$0	$0
Jeffrey Moreland	Trustee	Director	$0	$0	$0
James Dicke	Trustee	Director	$0	$0	$0
Roland Sturm	Trustee	Director	$0	$0	$0
Boniface A Zaino	Trustee	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	$1,010,037	$1,058,244	$4,543,024	$-48,207
2023	$1,076,392	$1,245,221	$4,893,115	$-168,829
2022	$841,592	$1,873,669	$4,773,193	$-1,032,077
2021	$2,334,864	$1,094,930	$6,014,179	$1,239,934
2020	$1,747,863	$983,113	$4,674,946	$764,750
2019	$1,516,643	$876,840	$3,925,891	$639,803
2018	$1,977,402	$965,614	$3,231,944	$1,011,788

Friends of Florence