INDEPENDENCE FOUNDATION INC (EIN 200391050) - 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

2004

Legal Domicile

Principal Officer

MICHELLE MADDEN

Phone

3302962851

Tax Period

2024-01-01 to 2024-12-31

INDEPENDENCE FOUNDATION INC, founded in 2004, is a micro nonprofit in the Human Services sector that reported $20K in total revenue in fiscal year 2024. Revenue surged 27362% from the prior year, signaling strong growth momentum. The organization ran a surplus of $7K, a strong 37% operating margin.

Mission

TO ASSIST IN MEETING THE UNFUNDED NEEDS OF INDEPENDENCE OF PORTAGE COUNTY, INC, PATHS TO INDEPENDENCE INC, AND THE INDIVIDUALS THEY SERVE WITH INTELLECTUAL DISABILITIES.

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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 $20,000

Program Service Revenue $0

Investment Income $47

Other Revenue $0

TOTAL REVENUE $20,047

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $12,694

TOTAL EXPENSES $12,694

Year-over-Year Comparison

	2024	2023	Change
Revenue	$20,047	$73	+273.6%
Expenses	$12,694	$1,648	+6.7%
Net Income	$7,353	$-1,575	-5.7%

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

N/A

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

$167,725

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DONNA KOVOLYAN	IOPCI PRESIDENT	0.25	Officer Director	$0	$0	$0
DENISE SMITH	PATHS PRESIDENT	0.25	Officer Director	$0	$0	$0
GREGORY JOHNSON	TRUSTEE	0.25	Director	$0	$0	$0
KELLY CLARY	TRUSTEE	0.25	Director	$0	$0	$0
ERIC SCHLAUBAGH	TRUSTEE	0.25	Director	$0	$0	$0
BRADFORD CRISLIP	TRUSTEE	0.25	Director	$0	$0	$0
VINCE VIGLUICCI	TRUSTEE	0.25	Director	$0	$0	$0
MISSY STAPLES	TRUSTEE	0.25	Director	$0	$0	$0
MICHELLE MADDEN	CHIEF EXECUTIVE OFFICER	1.00	Officer	$0	$40,693	$167,725

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	$20,047	$12,694	$3,727,666	$7,353
2023	$73	$1,648	$3,438,945	$-1,575
2022	$165,699	$31,070	$2,988,501	$134,629
2021	$137,143	$28,316	$3,579,847	$108,827
2020	$82,912	$25,416	$2,760,825	$57,496

INDEPENDENCE FOUNDATION INC