SOUTH LAKE BUSINESS 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

1988

Legal Domicile

Principal Officer

GINA TLEEL

Phone

6267921259

Tax Period

2024-01-01 to 2024-12-31

SOUTH LAKE BUSINESS ASSOCIATION, founded in 1988, is a small nonprofit that reported $765K in total revenue in fiscal year 2024. Expenses of $679K left a modest 11% surplus.

Mission

THE SOUTH LAKE BUSINESS ASSOCIATION'S MISSION IS TO PROACTIVELY PROMOTE AND IMPROVE THE ECONOMIC INTEREST OF THE MEMBERSHIP OF THE SOUTH LAKE PROPERTY BUSINESS IMPROVEMENT DISTRICT (PBID). THE PURPOSE OF THIS DISTRICT IS TO CONTINUE TO PROVIDE AND MANAGE SUPPLEMENTAL SERVICES AND IMPROVEMENTS FOR THIS IMPORTANT BUSINESS CENTER, INCLUDING A "CLEAN AND SAFE" PROGRAM, A PROFESSIONAL MARKETING AND BUSINESS PROMOTION PROGRAM AND A PROGRAM TO ENHANCE THE PHYSICAL ENVIRONMENT AND AMENITIES THROUGHOUT THE SOUTH LAKE AVENUE DISTRICT.

Program Service Accomplishments

Program 1

Expenses: $238,029 Revenue: $236,783

PROMOTIONS, MARKETING, ECONOMIC DEVELOPMENT: ADVERTISING THE DISTRICT'S DIVERSE ARRAY OF GOODS, SERVICES, AND CULTURE. MARKETING OF BUSINESS AND PROPERTY INVESTMENT OPPORTUNITIES WITHIN THE DISTRICT. MARKETING OF AVAILABLE SPACE FOR LEASE OR SALE. SERIES OF FESTIVE DISTRICT EVENTS AND HOLIDAY ACTIVITIES. REGULAR SALES AND BUSINESS PROMOTIONS. STREETSCAPE IMPROVEMENT PROJECT ENHANCEMENTS INCLUDE TRASH BINS, STREET FURNITURE, STREEN MEDIANS, AND OTHER IMPROVEMENTS AS AGREED OR NEEDED.

Program 2

Expenses: $141,274 Revenue: $236,783

MAINTENANCE AND LANDSCAPE SERVICES: PICK UP OF LITTER FROM ALL SIDEWALKS, GUTTERS, ALLEYS, AND PARKING LOTS - 6X PER WEEK. INSPECTION/EMPTYING OF SIDEWALK TRASH BINS - 6X PER WEEK. MECHANICAL...

MAINTENANCE AND LANDSCAPE SERVICES: PICK UP OF LITTER FROM ALL SIDEWALKS, GUTTERS, ALLEYS, AND PARKING LOTS - 6X PER WEEK. INSPECTION/EMPTYING OF SIDEWALK TRASH BINS - 6X PER WEEK. MECHANICAL SWEEPING OF ALL STREETS AND GUTTERS BY CITY - EVERY OTHER WEEK. MANUAL CLEANING OF ALL SIDEWALKS, ALLEYS AND PUBLIC PARKING LOTS - 5X PER WEEK. STEAM CLEANING OF ALL SIDEWALK AND TRASH BIN AREAS - 1X PER MONTH.

Program 3

Expenses: $156,784 Revenue: $236,782

AMBASSADOR/DAY PORTERS: DISTRICT PERSONNEL TO REPORT CRIME, GRAFFITI, CODE VIOLATIONS, DEBRIS, ETC. PROVIDE ASSISTANCE, DIRECTIONS, AND GREETINGS TO SHOPPERS AND VISITORS. DISTRIBUTE DISTRICT MAPS...

AMBASSADOR/DAY PORTERS: DISTRICT PERSONNEL TO REPORT CRIME, GRAFFITI, CODE VIOLATIONS, DEBRIS, ETC. PROVIDE ASSISTANCE, DIRECTIONS, AND GREETINGS TO SHOPPERS AND VISITORS. DISTRIBUTE DISTRICT MAPS, BUSINESS DIRECTORIES, AND EVENT CALENDARS.

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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 $8,650

Program Service Revenue $710,348

Investment Income $45,818

Other Revenue $0

TOTAL REVENUE $764,816

Expense Breakdown

Grants Paid $0

Salaries & Benefits $158,462

Fundraising Expenses $38,665

Program Expenses $536,087

Other Expenses $520,813

TOTAL EXPENSES $679,275

Year-over-Year Comparison

	2024	2023	Change
Revenue	$764,816	$773,437	0.0%
Expenses	$679,275	$681,721	0.0%
Net Income	$85,541	$91,716	-0.1%

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

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

$144,912

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN DUFFY	PRESIDENT	1.00	Officer Director	$0	$0	$0
JOHN HOWE	TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT DE PIETRO	SECRETARY	1.00	Officer Director	$0	$0	$0
JEFF CHEN	DIRECTOR	1.00	Director	$0	$0	$0
RISA HONDA	DIRECTOR	1.00	Director	$0	$0	$0
SHANT BOGHARIAN	DIRECTOR	1.00	Director	$0	$0	$0
SHANNON GIANCOTTA	DIRECTOR	1.00	Director	$0	$0	$0
KRISTINA MOORE	VICE PRESIDENT	1.00	Director	$0	$0	$0
PATRICK CRANDALL	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS PAGE	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM STIFEL	DIRECTOR	1.00	Director	$0	$0	$0
GINA TLEEL	EXECUTIVE DIRECTOR	40.00	Officer	$135,308	$9,604	$144,912

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	$764,816	$679,275	$1,888,241	$85,541
2023	$773,437	$681,721	$1,800,385	$91,716
2022	$716,420	$751,090	$1,619,519	$-34,670
2021	$700,856	$624,476	$1,669,652	$76,380
2020	$659,762	$483,113	$1,570,426	$176,649
2019	$534,851	$509,415	$1,390,564	$25,436
2018	$525,747	$482,759	$1,368,804	$42,988