THE EXPLORATION FOUNDATION (EIN 208992248) - 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

2008

Legal Domicile

Principal Officer

VICKY CARLSON

Phone

8083274751

Tax Period

2024-07-01 to 2025-06-30

THE EXPLORATION FOUNDATION, founded in 2008, is a small nonprofit in the Education sector that reported $568K in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Net assets of $2.0M represent 41 months of operating reserves.

Mission

SUPPORT WEST HAWAII EXPLORATION ACADEMY PUBLIC CHARTER SCHOOL AND TO FOSTER DISSEMINATION OF THE SCHOOL'S BEST PRACTICES AND OTHER EDUCATIONAL REFORM INITIATIVES.

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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 $105,783

Program Service Revenue $456,000

Investment Income $5,935

Other Revenue $0

TOTAL REVENUE $567,718

Expense Breakdown

Grants Paid $121,360

Salaries & Benefits $0

Fundraising Expenses $18,182

Program Expenses $531,335

Other Expenses $472,674

TOTAL EXPENSES $612,216

Year-over-Year Comparison

	2024	2023	Change
Revenue	$567,718	$498,811	+0.1%
Expenses	$612,216	$476,846	+0.3%
Net Income	$-44,498	$21,965	-3.0%

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
VICKY CARLSON	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
JAMIE BERGSMA	TREASURER	2.00	Officer Director	$0	$0	$0
LISA HUMMEL	SECRETARY	2.00	Officer 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	$567,718	$612,216	$5,961,231	$-44,498
2024	No data	No data	No data	No data
2023	$427,926	$436,679	$6,250,594	$-8,753
2022	$475,606	$430,803	$6,415,023	$44,803
2021	$607,946	$452,297	$6,689,700	$155,649
2020	$606,920	$466,889	$7,005,563	$140,031
2019	$602,111	$484,596	$7,529,053	$117,515
2018	$620,533	$477,997	$7,586,311	$142,536

THE EXPLORATION FOUNDATION