FRIENDS OF LATIMER QUILT AND TEXTILE CENTER (EIN 931051679) - 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

1991

Legal Domicile

Principal Officer

Carol Weber

Phone

5038428622

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF LATIMER QUILT AND TEXTILE CENTER, founded in 1991, is a small nonprofit that reported $218K in total revenue in fiscal year 2023. Revenue fell 51% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $47K, a strong 21% operating margin.

Mission

OPERATING A TEXTILE MUSEUM, INCLUDING RESTORATION OF DISPLAY MATERIALS

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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 $166,395

Program Service Revenue $51,683

Investment Income $0

Other Revenue $0

TOTAL REVENUE $218,078

Expense Breakdown

Grants Paid $0

Salaries & Benefits $51,051

Fundraising Expenses $0

Program Expenses $165,696

Other Expenses $120,383

TOTAL EXPENSES $171,434

Year-over-Year Comparison

	2023	2022	Change
Revenue	$218,078	$448,714	-0.5%
Expenses	$171,434	$98,204	+0.7%
Net Income	$46,644	$350,510	-0.9%

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

N/A

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
LARAYNE WOODWARD	BOARD MEMBER	2	Director	$0	$0	$0
LINDA MACHUTA	BOARD MEMBER	2	Director	$0	$0	$0
MARILYN ROOSSINCK	BOARD MEMBER	2	Director	$0	$0	$0
ARLENE SACHITANO	BOARD MEMBER	2	Director	$0	$0	$0
JON RODRIGUEZ	BOARD MEMBER	2	Director	$0	$0	$0
CAROL WEBER	PRESIDENT	5	Officer	$0	$0	$0
RHODA DEGIOVANNI	VICE PRESIDENT	2	Officer	$0	$0	$0
KATHY PARK	SECRETARY	2	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$218,078	$171,434	$675,552	$46,644
2022	$448,714	$98,204	$621,788	$350,510

FRIENDS OF LATIMER QUILT AND TEXTILE CENTER