FAR WEST EQUIPMENT DEALERS ASSOCIA… - 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

1946

Legal Domicile

Principal Officer

JOANI WOELFEL

Phone

5306666671

Tax Period

2022-08-01 to 2023-07-31

FAR WEST EQUIPMENT DEALERS ASSOCIATION, founded in 1946, is a small nonprofit that reported $315K in total revenue in fiscal year 2022. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $548K exceeded revenue, resulting in a 74% operating deficit.

Mission

PROMOTE EQUIPMENT DEALER INDUSTRY

Program Service Accomplishments

Program 1

DISSENMINATE INFORMATION ON BUSINESS AND LEGISLATIVE DEVELOPMENTS IMPORTANT TO MEMBERS THROUGH A MONTHLY MAGAZINE-STYLE BULLETIN, BY BROADCAST FAX AND BY TELEPHONE

Program 2

COORDINATE ANNUAL AREA DEALER MEETINGS WITH SPEAKERS ON TOPICS IMPORTANT TO THE EQUIPMENT DEALER INDUSTRY

Program 3

AWARD EDUCATION GRANTS TO PROMOTE INTEREST IN CAREERS IN THE EQUIPMENT DEALER INDUSTRY

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $156,959

Investment Income $157,683

Other Revenue $64

TOTAL REVENUE $314,706

Expense Breakdown

Grants Paid $400,000

Salaries & Benefits $91,191

Fundraising Expenses $0

Other Expenses $56,736

TOTAL EXPENSES $547,927

Year-over-Year Comparison

	2022	2021	Change
Revenue	$314,706	$265,368	+0.2%
Expenses	$547,927	$188,309	+1.9%
Net Income	$-233,221	$77,059	-4.0%

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

$144,050

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RUSSELL BALL	CHAIRMAN	1.00	Officer	$0	$0	$0
MIKE DIHEL	VICE CHAIRMA	1.00	Director	$0	$0	$0
BLAZE GRIFFIN	DIRECTOR	1.00	Director	$0	$0	$0
PHIL HASTINGS	DIRECTOR	1.00	Director	$0	$0	$0
BILL GARTON	DIRECTOR	1.00	Director	$0	$0	$0
GRANT GARTON	DIRECTOR	1.00	Director	$0	$0	$0
JOANI WOELFEL	PRESIDENT &	9.00	Officer	$60,216	$0	$144,050

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
2023	$18,463	$306,191	No data	$-287,728
2023	$314,706	$547,927	$287,728	$-233,221
2022	$265,368	$188,309	$2,131,394	$77,059
2021	$227,112	$272,352	$2,436,110	$-45,240
2020	$135,352	$182,980	$2,371,626	$-47,628
2019	$321,423	$162,729	$2,395,400	$158,694
2018	$362,530	$210,680	$2,310,365	$151,850

FAR WEST EQUIPMENT DEALERS ASSOCIATION