FRIENDS OF MERIT FRIENDS OF MERIT

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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

2023

Legal Domicile

Principal Officer

DAVID M WHITE

Tax Period

2023-12-01 to 2024-07-01

FRIENDS OF MERIT FRIENDS OF MERIT, founded in 2023, is a micro nonprofit that reported $3K in total revenue in fiscal year 2023. Expenses of $14K exceeded revenue, resulting in a 351% operating deficit.

Mission

THIS ORGANIZATION WAS FORMED TO EDUCATE AND INFORM RESIDENTS OF MERIT REGARDING LEGISLATIVE CHANGE & MUNICIPAL GROWTH THAT WOULD IMPACT AREA RESIDENTS AND ASSIST IN IMPLEMENTING DESIRED CHANGES

Program Service Accomplishments

Program 1

Expenses: $14,109

RESEARCHED AND ORGANIZED NEEDED DOCUMENT FOR THE INCORPORATION OF TOWN OF MERIT. WORKED WITH GIS MAP SERVICES TO GENERATE A MAP THAT MEETS GOVERNMENT CODES. OBTAINED SURVEY OF THE PROPOSED TOWN OF...

RESEARCHED AND ORGANIZED NEEDED DOCUMENT FOR THE INCORPORATION OF TOWN OF MERIT. WORKED WITH GIS MAP SERVICES TO GENERATE A MAP THAT MEETS GOVERNMENT CODES. OBTAINED SURVEY OF THE PROPOSED TOWN OF MERIT, TX. CONSULTED ATTORNEY TO DRAFT PETITION TO REQUEST AN ELECTION TO BE CALL BY HUNT COUNTY JUDGE. HELD SEVERAL COMMUNITY MEETINGS AND SENT MAILER TO RESIDENTS OF PROPOSED AREA.

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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 $600

Program Service Revenue $0

Investment Income $26

Other Revenue $2,499

TOTAL REVENUE $3,125

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $14,109

Other Expenses $14,109

TOTAL EXPENSES $14,109

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,125	N/A	N/A
Expenses	$14,109	N/A	N/A
Net Income	$-10,984	N/A	N/A

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

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
DAVID M WHITE	DIRECTOR	20.00	Director	$0	$0	$0
MICHELLE B ECKHARD	DIRECTOR	5.000	Director	$0	$0	$0
MARINA T LEWIS	DIRECTOR	5.000	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	$3,125	$14,109	No data	$-10,984