FAR WEST HERITAGE ASSOCIATION

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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

1986

Legal Domicile

Phone

5308921525

Tax Period

2024-01-01 to 2024-12-31

FAR WEST HERITAGE ASSOCIATION, founded in 1986, is a small nonprofit in the Arts, Culture & Humanities sector that reported $314K in total revenue in fiscal year 2024. Revenue surged 143% from the prior year, signaling strong growth momentum. The organization ran a surplus of $58K, a strong 18% operating margin.

Mission

THE FAR WEST HERITAGE ASSOCIATION PROVIDES A FORUM FOR HISTORICAL AS WELL AS NON-HISTORICAL MUSEUM EXHIBITS. THE ASSOCIATION HAS ALSO BEEN BEQUESTED A HISTORICAL FARMHOUSE & RANCH WHICH IS TO BE USED TO PRESERVE THE COMMUNITY'S HISTORICAL TREASURES.

Program Service Accomplishments

Program 1

Expenses: $205,692

THE ASSOCIATION WAS PREVIOUSLY BEQUESTED A SIGNIFICANT ENDOWMENT TO FACILITATE A NATIONAL REGISTERED HISTORICAL RANCH/FARMHOUSE PROPERTY (THE PATRICK RANCH MUSEUM). THE PROPERTY IS TO BE USED TO...

THE ASSOCIATION WAS PREVIOUSLY BEQUESTED A SIGNIFICANT ENDOWMENT TO FACILITATE A NATIONAL REGISTERED HISTORICAL RANCH/FARMHOUSE PROPERTY (THE PATRICK RANCH MUSEUM). THE PROPERTY IS TO BE USED TO RETAIN THE COMMUNITY'S HISTORICAL TREASURES. THIS PROPERTY SPEARHEADED THE ASSOCIATIONS FUTURE PLANNING AND THE PRESERVATION AND CATALOGING OF HISTORICAL ARTIFACTS FROM THE PATRICK RANCH COLLECTION.

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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 $36,262

Program Service Revenue $0

Investment Income $250,747

Other Revenue $27,050

TOTAL REVENUE $314,059

Expense Breakdown

Grants Paid $0

Salaries & Benefits $74,084

Fundraising Expenses $17,291

Program Expenses $205,692

Other Expenses $182,236

TOTAL EXPENSES $256,320

Year-over-Year Comparison

	2024	2023	Change
Revenue	$314,059	$129,371	+1.4%
Expenses	$256,320	$260,377	0.0%
Net Income	$57,739	$-131,006	-1.4%

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
RICHARD BAUMAN	President	10.00	Officer Director	$0	$0	$0
KAY PERKINS	Vice President	10.00	Officer Director	$0	$0	$0
SUE LEVI	Treasurer	2.00	Officer Director	$0	$0	$0
NICOLE SOHNREY	BOARD MEMBER	2.00	Director	$0	$0	$0
ERICK SHANKS	VP - ENDOWMENT	1.00	Director	$0	$0	$0
TAD ALEXANDER	BOARD MEMBER	1.00	Director	$0	$0	$0
HAROLD URNESS	BOARD MEMBER	1.00	Director	$0	$0	$0
TRACY DONNER	BOARD MEMBER	1.00	Director	$0	$0	$0
CASEY WILMUNDER	BOARD MEMBER	1.00	Director	$0	$0	$0
SHANE SCOTT	BOARD MEMBER	1.00	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	$314,059	$256,320	$4,155,135	$57,739
2023	$129,371	$260,377	$4,044,510	$-131,006
2022	$284,740	$267,916	$4,031,601	$16,824
2021	$506,945	$243,565	$4,321,784	$263,380
2020	$200,308	$225,913	$4,103,593	$-25,605
2019	$280,555	$497,006	$4,027,060	$-216,451
2018	$390,781	$322,935	$3,989,090	$67,846