PAT TILLMAN FOUNDATION

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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

MARIE TILLMAN SHENTON

Phone

7733605277

Tax Period

2024-01-01 to 2024-12-31

PAT TILLMAN FOUNDATION, founded in 2004, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $5.7M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $5.0M left a modest 12% surplus.

Mission

IN 2002, PAT TILLMAN PROUDLY PUT HIS NFL CAREER WITH THE ARIZONA CARDINALS ON HOLD TO SERVE HIS COUNTRY. FAMILY AND FRIENDS ESTABLISHED THE PAT TILLMAN FOUNDATION FOLLOWING PAT'S DEATH IN APRIL 2004 WHILE SERVING WITH THE 75TH RANGER REGIMENT IN AFGHANISTAN. CREATED TO HONOR PAT'S LEGACY OF LEADERSHIP AND SERVICE, THE PAT TILLMAN FOUNDATION INVESTS IN MILITARY VETERANS AND THEIR SPOUSES THROUGH ACADEMIC SCHOLARSHIPS-BUILDING A DIVERSE COMMUNITY OF LEADERS COMMITTED TO SERVICE TO OTHERS. FOR MORE INFORMATION ON THE PAT TILLMAN FOUNDATION, VISIT WWW.PATTILLMANFOUNDATION.ORG. FOUNDED IN 2008, THE TILLMAN SCHOLARS PROGRAM SUPPORTS OUR NATION'S ACTIVE-DUTY SERVICE MEMBERS, VETERANS AND MILITARY SPOUSES BY INVESTING IN THEIR HIGHER EDUCATION. THE SCHOLARSHIP PROGRAM COVERS DIRECT STUDY-RELATED EXPENSES, INCLUDING TUITION AND FEES, BOOKS AND LIVING EXPENSES, FOR SCHOLARS WHO ARE PURSUING UNDERGRADUATE, GRADUATE OR POST-GRADUATE DEGREES AS A FULL-TIME STUDENT AT A PUBLIC OR PRIVATE, U.S.-BASED

Program Service Accomplishments

Program 1

Expenses: $3,521,946

THE PROGRAMMATIC PILLAR OF THE PAT TILLMAN FOUNDATION IS THE TILLMAN SCHOLARS (TS) PROGRAM. FOUNDED IN 2008, THE TS PROGRAM SUPPORTS OUR NATIONS ACTIVE-DUTY SERVICE MEMBERS, VETERANS AND THEIR...

THE PROGRAMMATIC PILLAR OF THE PAT TILLMAN FOUNDATION IS THE TILLMAN SCHOLARS (TS) PROGRAM. FOUNDED IN 2008, THE TS PROGRAM SUPPORTS OUR NATIONS ACTIVE-DUTY SERVICE MEMBERS, VETERANS AND THEIR SPOUSES WITH AN ACADEMIC SCHOLARSHIP AND PROGRAMMATIC SUPPORT. THE SCHOLARSHIP COVERS DIRECT STUDY-RELATED EXPENSES, INCLUDING TUITION AND FEES, BOOKS AND LIVING EXPENSES, FOR SCHOLARS WHO ARE PURSUING UNDERGRADUATE, GRADUATE OR PROFESSIONAL DEGREES AS A FULL-TIME STUDENT AT A PUBLIC OR PRIVATE, U.S.- BASED ACCREDITED INSTITUTION. EACH YEAR, THE FOUNDATION SELECTS UP TO 60 TILLMAN SCHOLARS WHO EMBODY PATS COMMITMENT TO SERVICE, LEARNING AND ACTION. THE SCHOLARS CHOSEN DEMONSTRATE EXTRAORDINARY ACADEMIC AND LEADERSHIP POTENTIAL, A TRACK RECORD OF PERSEVERANCE, AND A DEEP DESIRE TO CREATE POSITIVE CHANGE THROUGH THEIR WORK IN THE FIELDS OF MEDICINE, LAW, BUSINESS, POLICY, TECHNOLOGY, EDUCATION, AND THE ARTS. SINCE ITS INCEPTION, THE TS PROGRAM HAS EVOLVED INTO A COMMUNITY OF MILITARY VETERANS AND SPOUSES, ACCEPTING APPLICANTS BASED ON MERIT AND POTENTIAL FOR IMPACT. OVERALL, SINCE INCEPTION THE FOUNDATION HAS INVESTED OVER 34 MILLION IN TILLMAN SCHOLAR SCHOLARSHIPS AND HAS NAMED OVER 871 TILLMAN SCHOLARS AT MORE THAN 166 ACADEMIC INSTITUTIONS NATIONWIDE. TILLMAN SCHOLARS REPRESENT ALL FIVE BRANCHES OF THE UNITED STATES MILITARY, INCLUDING THE NATIONAL GUARD AND RESERVES, AS WELL AS MILITARY SPOUSES. AIDED BY A GRASSROOTS MARKETING EFFORT, THE FOUNDATION RECEIVED NEARLY 1,500 COMPLETE APPLICATIONS DURING THE MONTH-LONG SUBMISSION WINDOW DURING THE YEAR ENDED DECEMBER 31, 2024. AFTER CAREFUL REVIEW AND CONSIDERATION AMONG REGIONAL AND FINAL SELECTION COMMITTEES, 60 CANDIDATES WERE SELECTED TO JOIN THE TENTH CLASS OF TILLMAN SCHOLARS. DURING THE YEARS ENDED DECEMBER 31, 2024 AND 2023, THE FOUNDATION AWARDED 1,466,750 AND 1,409,500, RESPECTIVELY, IN SCHOLARSHIPS. AS OF DECEMBER 31, 2024 AND 2023, THE BOARD HAS DESIGNATED 1,939,500 AND 1,221,950, RESPECTIVELY, IN FUNDS FOR ANTICIPATED SCHOLARSHIP FUND RENEWALS FOR CURRENT TILLMAN SCHOLARS. PRIOR TO FOCUSING ON VETERANS' EDUCATION, THE FOUNDATION FULLY ENDOWED THE LEADERSHIP THROUGH ACTION PROGRAM AT ARIZONA STATE UNIVERSITY, SERVING PROMISING UNDERGRADUATE STUDENTS WITH A UNIQUE PERSONAL DEVELOPMENT AND LEADERSHIP CURRICULUM.

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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 $5,436,349

Program Service Revenue $0

Investment Income $164,776

Other Revenue $119,669

TOTAL REVENUE $5,720,794

Expense Breakdown

Grants Paid $1,466,750

Salaries & Benefits $2,000,256

Fundraising Expenses $872,572

Program Expenses $3,521,946

Other Expenses $1,549,502

TOTAL EXPENSES $5,049,008

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,720,794	$4,945,986	+0.2%
Expenses	$5,049,008	$5,569,363	-0.1%
Net Income	$671,786	$-623,377	-2.1%

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

827

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

$217,670

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHERINE STEELE	CEO	40.00	Officer	$211,088	$6,582	$217,670
COLLEEN REANEY	HEAD OF TLI	40.00	Highest	$131,684	$6,580	$138,264
MICHELLE MARTIN	DIRECTOR OF	40.00	Highest	$121,482	$0	$121,482
ROBERT FAULK	PAT TILLMAN	40.00	Highest	$104,536	$0	$104,536
MICHAEL BIDWELL	DIRECTOR	2.00	Director	$0	$0	$0
JOE BROWNE	DIRECTOR	2.00	Director	$0	$0	$0
MARGARET CORTEZI	DIRECTOR	2.00	Director	$0	$0	$0
BRETT FUNCK	DIRECTOR	2.00	Director	$0	$0	$0
ALEX GARWOOD	DIRECTOR	2.00	Director	$0	$0	$0
CHRIS HART	VICE CHAIR	2.00	Officer Director	$0	$0	$0
BENJAMIN HILL	TREASURER	2.00	Officer Director	$0	$0	$0
AMBER MANKE	DIRECTOR	2.00	Director	$0	$0	$0
LAZAR RAYNAL	DIRECTOR	2.00	Director	$0	$0	$0
IAN SACKS	DIRECTOR	2.00	Director	$0	$0	$0
JOE SHENTON	DIRECTOR	2.00	Director	$0	$0	$0
MARIE TILLMAN SHENTON	CHAIR	2.00	Officer Director	$0	$0	$0
JOHN SVOBODA	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTINE WILKINSON	DIRECTOR	2.00	Director	$0	$0	$0

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	No data	No data	No data	No data
2024	$5,720,794	$5,049,008	$6,673,196	$671,786
2023	$4,945,986	$5,569,363	$5,748,892	$-623,377
2022	$5,161,720	$5,115,473	$6,402,784	$46,247
2021	$5,314,322	$4,020,132	$5,928,677	$1,294,190
2020	$3,681,025	$3,240,972	$4,713,801	$440,053
2019	$3,942,827	$3,551,146	$3,938,938	$391,681
2018	$3,782,090	$3,326,957	$3,516,738	$455,133