Filipino-American Development Foun… - Form 990 Financial Data

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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

1997

Legal Domicile

Phone

4153488042

Tax Period

2024-01-01 to 2024-12-31

Filipino-American Development Foundation, founded in 1997, is a community nonprofit in the Human Services sector that reported $2.3M in total revenue in fiscal year 2024. Expenses of $2.9M exceeded revenue, resulting in a 24% operating deficit.

Mission

The Filipino-American Development Foundation (FADF) is a nonprofit organization founded in March 1997 to develop initiatives and resources to strengthen the social, physical, and economic well being of the Filipino American community with special attention to the underserved segments of the community. FADF's involvement in the community centers on the needs of the seniors and immigrant families in San Francisco and has taken a responsive, participatory, and an asset-based approach to serving 2000 clients per year at FADF's Bayanihan Community Center through after-school programs, community mental health programs, and cultural & art programming for low-income families.

Program Service Accomplishments

Program 1

Expenses: $988,679 Revenue: $1,107,716

SOMA Pilipinas Filipino Cultural District Designated by the City of San Francisco in 2016, the cultural district spans 1.5 miles. FADF Soma Pilipinas work involves developing Filipino cultural arts, assets, and creative place-making; community development strategies and economic development initiatives for addressing displacement of Filipino residents, and promoting their sustainability.

Program 2

Expenses: $523,742 Revenue: $338,472

Galing Bata After School and Summer Program FADF administers a Filipino bicultural after-school and summer program for students K-8 at the Bessie Carmichael/Filipino Education Center School since...

Galing Bata After School and Summer Program FADF administers a Filipino bicultural after-school and summer program for students K-8 at the Bessie Carmichael/Filipino Education Center School since 2001. The program provides cultural and linguistic biliteracy in English and Filipino and promotes the development of a healthy bicultural identity by harmonizing the Filipino and American identities of the children. We serve approximately 75 students in this program.

Program 3

Expenses: $471,194 Revenue: $118,488

All other programs

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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 $2,098,374

Program Service Revenue $183,655

Investment Income $58,802

Other Revenue $4,420

TOTAL REVENUE $2,345,251

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,618,314

Fundraising Expenses $176,280

Program Expenses $2,390,855

Other Expenses $1,299,374

TOTAL EXPENSES $2,917,688

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,345,251	$2,462,732	0.0%
Expenses	$2,917,688	$1,914,314	+0.5%
Net Income	$-572,437	$548,418	-2.0%

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

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

$145,736

Total Directors

$36,691

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Gayle Romasanta	Executive Dir.	40.00	Officer	$145,736	$0	$145,736
MC Canlas	Director	23.00	Director	$36,691	$0	$36,691
Carolyn Sideco	President	1.00	Officer Director	$0	$0	$0
Jerel Baldomero	Vice President	1.00	Officer Director	$0	$0	$0
Edgar Estonina	Treasurer	1.00	Officer Director	$0	$0	$0
Bernice Sy	Secretary	1.00	Officer Director	$0	$0	$0
Bernadette Sy	Director	1.00	Director	$0	$0	$0
Regina DeGuzman	Director	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	$2,345,251	$2,917,688	$3,675,446	$-572,437
2023	$2,462,732	$1,914,314	$3,940,888	$548,418
2022	$1,655,122	$1,636,842	$3,062,235	$18,280
2021	$1,027,617	$696,379	$2,851,628	$331,238
2020	$722,136	$667,859	$2,718,738	$54,277
2019	$660,127	$591,137	$2,226,589	$68,990
2018	$3,216,243	$3,241,471	$2,049,042	$-25,228

Filipino-American Development Foundation