FRIENDS OF LACES

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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

1992

Legal Domicile

Phone

3235495900

Tax Period

2024-07-01 to 2025-06-30

FRIENDS OF LACES, founded in 1992, is a small nonprofit in the Education sector that reported $375K in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $56K, a strong 15% operating margin.

Mission

FRIENDS OF L.A.C.E.S. SUPPORTS LOS ANGELES CENTER FOR ENRICHED STUDIES (L.A.C.E.S) BY SUPPLEMENTING STAFFING, RESOURCES, EXTRACURRICULAR PROGRAMS AND ACTIVITIES NOT PROVIDED BY THE LOS ANGELES UNIFIED SCHOOL DISTRICT.

Program Service Accomplishments

Program 1

Expenses: $207,331

DEPARTMENT SUPPORT - EXPENSES MADE FOR TRANSPORTATION, TECHNOLOGY SUPPORT, CAMPUS AIDES, ANTI-PLAGIARISM SOFTWARE AND OTHER ITEMS OF THIS KIND.

Program 2

Expenses: $23,937

EDUCATION & ATHLETICS - THESE PROGRAMS PROVIDE SUPPORT IN VARIOUS WAYS. ATHLETIC EXPENSES ARE MADE FOR ITEMS LIKE UNIFORMS, WARM UP OUTFITS FOR BOYS AND GIRLS SPORTS TEAMS AND TOURNAMENT FEES...

EDUCATION & ATHLETICS - THESE PROGRAMS PROVIDE SUPPORT IN VARIOUS WAYS. ATHLETIC EXPENSES ARE MADE FOR ITEMS LIKE UNIFORMS, WARM UP OUTFITS FOR BOYS AND GIRLS SPORTS TEAMS AND TOURNAMENT FEES. EDUCATION EXPENSES SUPPORT SUBSTANTIVE AND ENRICHMENT COURSES BY PROVIDING BOOKS, SUPPLIES, WORKBOOKS AND SNACKS.

Program 3

Expenses: $56,537

AFTER SCHOOL CLUBS/ACTIVITIES - INCLUDED ARE VARIOUS CLUBS (JAPANESE, FRENCH, MOCK TRIAL, ETC.) AND EXPENSES TO SUPPORT ENRICHMENT TRIPS TO PLACES LIKE YOSEMITE, MAGIC MOUNTAIN AND ACTIVITIES...

AFTER SCHOOL CLUBS/ACTIVITIES - INCLUDED ARE VARIOUS CLUBS (JAPANESE, FRENCH, MOCK TRIAL, ETC.) AND EXPENSES TO SUPPORT ENRICHMENT TRIPS TO PLACES LIKE YOSEMITE, MAGIC MOUNTAIN AND ACTIVITIES INCLUDING THE 8TH GRADE CULMINATION.

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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 $320,112

Program Service Revenue $0

Investment Income $12,151

Other Revenue $42,882

TOTAL REVENUE $375,145

Expense Breakdown

Grants Paid $21,944

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $309,749

Other Expenses $296,842

TOTAL EXPENSES $318,786

Year-over-Year Comparison

	2024	2023	Change
Revenue	$375,145	$315,489	+0.2%
Expenses	$318,786	$324,610	0.0%
Net Income	$56,359	$-9,121	-7.2%

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

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANNE ALEXANDER	CO-PRESIDENT	5.00	Officer	$0	$0	$0
JOEY SOLOMON	CO-PRESIDENT	5.00	Officer	$0	$0	$0
MARTHA PANIAGUA	CO-TREASURER	5.00	Officer	$0	$0	$0
HENRY CHU	CO-TREASURER	5.00	Officer	$0	$0	$0
MICHELLE ORSO	SECRETARY	5.00	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	$375,145	$318,786	$677,333	$56,359
2024	No data	No data	No data	No data
2023	$358,907	$241,953	$630,595	$116,954
2022	$317,116	$297,622	$511,665	$19,494
2021	$277,283	$223,075	$492,171	$54,208
2020	$446,819	$421,204	$437,963	$25,615
2019	$526,227	$440,513	$412,348	$85,714
2018	$537,370	$539,003	$326,634	$-1,633