THE FUND FOR AMERICAN STUDIES (EIN 136223604) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1967

Legal Domicile

Principal Officer

ROGER R REAM

Phone

2029860384

Tax Period

2024-09-01 to 2025-08-31

THE FUND FOR AMERICAN STUDIES, founded in 1967, is a mid-sized nonprofit that reported $15.6M in total revenue in fiscal year 2024. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $17.9M exceeded revenue, resulting in a 15% operating deficit.

Mission

TFAS TEACHES MARKET ECONOMICS AND LIMITED GOVERNMENT TO STUDENTS & YOUNG PROFESSIONALS. THE MISSION IS TO CHANGE THE WORLD BY DEVELOPING LEADERS FOR A FREE SOCIETY. TFAS WORKS WITH HIGH SCHOOL STUDENTS AND TEACHERS, COLLEGE STUDENTS, AND YOUNG PROFESSIONALS. TFAS HAS PROGRAMS IN THE U.S., EUROPE, AND SOUTH AMERICA.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $8,460,480

Program Service Revenue $6,006,688

Investment Income $955,039

Other Revenue $174,847

TOTAL REVENUE $15,597,054

Expense Breakdown

Grants Paid $2,213,966

Salaries & Benefits $6,860,394

Fundraising Expenses $2,249,363

Program Expenses $14,792,645

Other Expenses $8,610,377

TOTAL EXPENSES $17,878,468

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,597,054	$21,154,255	-0.3%
Expenses	$17,878,468	$17,112,030	+0.0%
Net Income	$-2,281,414	$4,042,225	-1.6%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

109

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

$725,451

Total Directors

$725,451

Key Employees

$240,894

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROGER R REAM	PRESIDENT	49.00	Officer Director	$383,652	$23,330	$406,982
ROBERT J CALLAHAN	CFO/VICE PRESIDENT, FINANCE	49.00	Officer Director	$192,030	$31,439	$223,469
RANDAL C TEAGUE	CHAIRMAN	24.00	Officer Director	$95,000	$0	$95,000
BRIDGETT WAGNER	VICE CHAIR	2.00	Officer Director	$0	$0	$0
WILLIAM J HYBL	VICE CHAIRMAN - INTERNATIONAL	2.00	Officer Director	$0	$0	$0
DANIEL H BRANCH	SECRETARY	2.00	Officer Director	$0	$0	$0
DEREK MCCLAIN	TREASURER	2.00	Officer Director	$0	$0	$0
CAROLINE WEIL BARNETT	TRUSTEE	2.00	Director	$0	$0	$0
CHARLES R BLACK JR	TRUSTEE	2.00	Director	$0	$0	$0
CHRIS ULLMAN	TRUSTEE	2.00	Director	$0	$0	$0
COLENE JOHNSON	TRUSTEE	2.00	Director	$0	$0	$0
DAVID STOVER	TRUSTEE	2.00	Director	$0	$0	$0
ERIC TANNENBLATT	TRUSTEE	2.00	Director	$0	$0	$0
FRANK T LAUINGER	TRUSTEE	2.00	Director	$0	$0	$0
JADE WEST	TRUSTEE	2.00	Director	$0	$0	$0
JAMES B CULBERTSON	TRUSTEE	2.00	Director	$0	$0	$0
JEFF CARNEAL	TRUSTEE	2.00	Director	$0	$0	$0
JOHN LEE	TRUSTEE	2.00	Director	$0	$0	$0
LINDSAY Y CRAIG	OUTGOING TRUSTEE	2.00	Director	$0	$0	$0
PAULA J DOBRIANSKY	TRUSTEE	2.00	Director	$0	$0	$0
PETER MCPHERSON	TRUSTEE	2.00	Director	$0	$0	$0
ROBERT PRUGER	TRUSTEE	2.00	Director	$0	$0	$0
THERESA KOSTRZEWA	TRUSTEE	2.00	Director	$0	$0	$0
STEPHEN SLATTERY	EXECUTIVE VICE PRESIDENT	49.00	Key Emp	$217,478	$23,416	$240,894
RANDALL SCOTT DECLEENE	CHIEF DEVELOPMENT AND COMM. OFFICER	49.00	Highest	$203,303	$10,393	$213,696
EDWARD TURNER	VICE PRESIDENT, DEVELOPMENT	49.00	Highest	$182,306	$7,211	$189,517
THOMAS TUCKER	EXECUTIVE DIRECTOR - FTE	49.00	Highest	$168,939	$7,067	$176,006
JOSEPH STARRS	SENIOR DIR., COLLEGIATE PROG.	49.00	Highest	$145,283	$21,905	$167,188
SHANE MAZZELLA	VICE PRESIDENT, US PROGRAMS	49.00	Highest	$123,878	$4,920	$128,798

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
2025	$15,597,054	$17,878,468	$27,614,893	$-2,281,414
2024	$21,154,255	$17,112,030	$28,671,080	$4,042,225
2023	$16,317,350	$15,509,629	$22,075,471	$807,721
2022	$14,086,865	$14,817,044	$24,086,764	$-730,179
2021	$6,879,817	$8,728,871	$28,894,922	$-1,849,054
2020	$8,678,149	$9,567,879	$28,615,543	$-889,730
2019	$14,414,710	$14,493,427	$26,735,388	$-78,717
2018	$12,474,003	$11,882,083	$24,621,632	$591,920

THE FUND FOR AMERICAN STUDIES