WORLD FLOOR COVERING ASSOCIATION (EIN 952321736) - Form 990 Financial Analysis & Trantor Score

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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

1959

Legal Domicile

Principal Officer

SCOTT HUMPHREY

Phone

7062171183

Tax Period

2023-01-01 to 2023-12-31

WORLD FLOOR COVERING ASSOCIATION, founded in 1959, is a community nonprofit in the Community Improvement sector that reported $3.1M in total revenue in fiscal year 2023. Revenue surged 70% from the prior year, signaling strong growth momentum. Expenses of $3.5M exceeded revenue, resulting in a 13% operating deficit.

Mission

TO IMPROVE RELATIONS AMONG PROFESSIONALS WITHIN THE FLOOR COVERING INDUSTRY, PROMOTE FLOOR COVERING PRODUCTS, ESTABLISH ETHICAL STANDARDS FOR THE FLOOR COVERING INDUSTRY, CONDUCT TRAINING AND EDUCATIONAL PROGRAMS TO BENEFIT THE ASSOCIATION'S MEMBERS AND THEIR EMPLOYEES.

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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 $772,317

Program Service Revenue $373,151

Investment Income $2,006,715

Other Revenue $-28,867

TOTAL REVENUE $3,123,316

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,720,988

Fundraising Expenses $0

Program Expenses $1,903,979

Other Expenses $1,806,303

TOTAL EXPENSES $3,527,291

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,123,316	$1,835,248	+0.7%
Expenses	$3,527,291	$4,700,400	-0.2%
Net Income	$-403,975	$-2,865,152	-0.9%

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

Total Directors

Key Employees

$1,206,530

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM JOSS	DIRECTOR	2.00	Director	$0	$0	$0
ADAM NONN	TREASURER	2.00	Officer Director	$0	$0	$0
CHERYL ACIERNO	DIRECTOR	2.00	Director	$0	$0	$0
DEAN HOWELL	CHAIR	2.00	Officer Director	$0	$0	$0
DEB DEGRAAF	IMMEDIATE PAST CHAIR	2.00	Officer Director	$0	$0	$0
JANICE CLIFTON	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JASON JABARA	DIRECTOR	2.00	Director	$0	$0	$0
JAY KOPELSON	ASSOC DIRECTOR	2.00	Director	$0	$0	$0
JEFF KING	LEGAL COUNSEL	2.00	Director	$0	$0	$0
LARRY FLICK	DIRECTOR	2.00	Director	$0	$0	$0
LAUREN VOIT	SECRETARY	2.00	Officer Director	$0	$0	$0
MADELEINE BAYLESS	ASSOC DIRECTOR	2.00	Director	$0	$0	$0
ROD VAN BUSCH	DIRECTOR	2.00	Director	$0	$0	$0
SAM O'KRENT	CHAIR ELECT	2.00	Officer Director	$0	$0	$0
SKIP MANCINI	DIRECTOR	2.00	Director	$0	$0	$0
TYPHANNIE HARKER	VICE CHAIR	2.00	Officer Director	$0	$0	$0
DAVID GARDEN	EXECUTIVE DIRECTOR, EDUCATION (CFI)	40.00	Key Emp	$163,736	$0	$163,736
FREIDA STATEN	VP, MARKETING	40.00	Key Emp	$164,800	$0	$164,800
JAMES AARON	EXECUTIVE DIRECTOR, FCEF	40.00	Key Emp	$208,350	$0	$208,350
SCOTT HUMPHREY	CEO	40.00	Key Emp	$378,584	$0	$378,584
STEVE ABERNATHY	COO	40.00	Key Emp	$291,060	$0	$291,060

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	No data	No data	No data	No data
2023	$3,123,316	$3,527,291	$33,493,761	$-403,975
2022	$1,835,248	$4,700,400	$31,140,754	$-2,865,152
2021	$4,224,250	$4,111,872	$39,627,926	$112,378
2020	$1,717,561	$3,168,595	$39,114,061	$-1,451,034
2019	$2,550,503	$3,825,833	$38,286,782	$-1,275,330
2018	$3,653,086	$4,310,414	$35,903,360	$-657,328

WORLD FLOOR COVERING ASSOCIATION