FRIENDS OF THIRD PLACE COMMONS

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

PHIL SLUITER

Phone

2063663302

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF THIRD PLACE COMMONS, founded in 2000, is a small nonprofit in the Recreation & Sports sector that reported $216K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year.

Mission

ENRICH, FOSTER REAL COMMUNITY IN REAL SPACE OPEN TO EVERYONE; FACILITATE FREE PUBLIC EVENTS IN THE COMMONS; SPONSOR THE LOCAL FARMERS MARKET; PARTNER WITH CIVIC, SOCIAL SERVICE ENTITIES TO HELP MAXIMIZE THEIR IMPACT.

Program Service Accomplishments

Program 1

Expenses: $95,821

COMMUNITY EVENTS: Third Place Commons hosts hundreds of free community events each year including performances by local school bands/orchestras, music and dance studios, and community groups. Events also include community fairs (e.g., green fairs, safety and preparedness, etc.), crafts fairs, informational and educational forums (e.g., candidate forums, social issues, etc.), and other unique offerings. Events held both in-person and virtually via Zoom. Weekly and monthly programs included foreign language conversation groups, book and movie clubs, art-ins, and more. All events at the Commons are free of charge.

Program 2

Expenses: $45,652

FARMERS MARKET: The Lake Forest Park Farmers Market is a weekly Sunday market from Mothers Day through mid-October annually. The market, which is food and plant focused, features dozens of vendors of produce, meat, fish,eggs,flowers and locally produced specialty items, and welcomes thousands of weekly shoppers.

Program 3

Expenses: $34,943

WEEKEND MUSIC: Friends of Third Place Commons hosts free live music onstage with an open dance floor every Friday and Saturday night. Local and regional acts bring jazz, swing, big band, blues, funk, soul, country, zydeco and more to local audiences from throughout Seattle and north King County, while a large dance floor gives dancers plenty of space to rock and swing to the nights offerings.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $138,045

Program Service Revenue $0

Investment Income $736

Other Revenue $77,422

TOTAL REVENUE $216,203

Expense Breakdown

Grants Paid $0

Salaries & Benefits $103,291

Fundraising Expenses $18,480

Program Expenses $176,416

Other Expenses $115,066

TOTAL EXPENSES $218,357

Year-over-Year Comparison

	2023	2022	Change
Revenue	$216,203	$229,450	-0.1%
Expenses	$218,357	$210,049	+0.0%
Net Income	$-2,154	$19,401	-1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHIL SLUITER	Treasurer	1.00	Director	$0	$0	$0
SHARY VAN	President	1.00	Officer Director	$0	$0	$0
GIN THORSON	Director	1.00	Director	$0	$0	$0
BRIAN JOHNSON	Director	1.00	Director	$0	$0	$0
ERIKA OLSON	Director	1.00	Director	$0	$0	$0
NORMAN LIEBERMAN	Vice President	1.00	Officer Director	$0	$0	$0
AARON STADLER	Director	1.00	Officer 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	No data	No data	No data	No data
2023	$216,203	$218,357	$265,454	$-2,154
2022	$229,450	$210,049	$259,897	$19,401
2021	$171,358	$171,631	$238,509	$-273
2020	$178,985	$168,345	$238,268	$10,640
2019	$237,007	$212,235	$227,651	$24,772
2018	$242,035	$236,392	$203,806	$5,643