HEART OF IOWA SCHOOL TUITION ORGANIZATION INC (EIN 205286383) - 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

2006

Legal Domicile

Principal Officer

TYLER TESKE

Phone

6412041893

Tax Period

2024-01-01 to 2024-12-31

HEART OF IOWA SCHOOL TUITION ORGANIZATION INC, founded in 2006, is a community nonprofit in the Education sector that reported $1.7M in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year. Expenses of $1.6M left a modest 7% surplus.

Mission

ELEMENTARY & SECONDARY EDUCATION: THE ORGANIZATION DISTRIBUTES FROM FUNDS RAISED IN THE FORM OF SCHOLARSHIPS TO LOW INCOME FAMILIES. LOW INCOME IS DEFINED AS FAMILIES WITH INCOME LESS THAN FOUR TIMES THE POVERTY LEVEL FOR THEIR HOUSEHOLD. THE STATE REQUIRES THAT 90% OF THE FUNDS BE DISTRIBUTED TO THESE FAMILIES, WHICH IS ALWAYS COMPLIED WITH, BUT USUALLY AT LEAST 99% OF THE DONATIONS HAVE BEEN DISTRIBUTED TO STUDENTS ATTENDING STATE ACCREDITED NON-PUBLIC SCHOOLS.

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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 $1,692,883

Program Service Revenue $0

Investment Income $25,631

Other Revenue $0

TOTAL REVENUE $1,718,514

Expense Breakdown

Grants Paid $1,578,052

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,578,052

Other Expenses $16,132

TOTAL EXPENSES $1,594,184

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,718,514	$1,989,092	-0.1%
Expenses	$1,594,184	$2,594,263	-0.4%
Net Income	$124,330	$-605,171	-1.2%

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

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GLEN SWANSON	Treasurer	10.00	Officer Director	$0	$0	$0
RYAN HALL	Director	1.00	Director	$0	$0	$0
MIKE WOHLENHAUS	Director	1.00	Director	$0	$0	$0
PENNI CHADDERDON	Director	1.00	Director	$0	$0	$0
JACOB HARDIMAN	Secretary	10.00	Officer Director	$0	$0	$0
BRETT ERICKSON	Director	1.00	Director	$0	$0	$0
AMANDA JORDAN	Director	1.00	Director	$0	$0	$0
JULIA VEENSTRA	Director	1.00	Director	$0	$0	$0
DAVE LYNCH	Director	1.00	Director	$0	$0	$0
AMY BRADY	Director	1.00	Director	$0	$0	$0
CORY EMILY	Director	1.00	Director	$0	$0	$0
TRACY KING	Director	1.00	Director	$0	$0	$0
KARL STIEGLITZ	Director	1.00	Director	$0	$0	$0
TYLER TESKE	President	10.00	Officer Director	$0	$0	$0
LORI BLAKE	Director	1.00	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
2024	$1,718,514	$1,594,184	$2,266,726	$124,330
2023	$1,989,092	$2,594,263	$2,142,396	$-605,171
2022	$2,822,143	$2,183,334	$2,747,567	$638,809
2021	$2,267,214	$2,092,800	$2,108,758	$174,414
2020	$2,043,244	$1,427,128	$1,934,344	$616,116
2019	$1,425,556	$1,192,201	$1,318,228	$233,355
2018	$1,734,771	$1,322,337	$1,084,873	$412,434

HEART OF IOWA SCHOOL TUITION ORGANIZATION INC