HAZELWOOD INITIATIVE INC

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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

1999

Legal Domicile

Principal Officer

SONYA TIGHLMAN

Phone

4124217234

Tax Period

2023-01-01 to 2023-12-31

HAZELWOOD INITIATIVE INC, founded in 1999, is a community nonprofit in the Community Improvement sector that reported $2.8M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Net assets of $9.1M represent 39 months of operating reserves.

Mission

THE MISSION OF HAZELWOOD INITIATIVE IS BUILDING A STRONGER HAZELWOOD THROUGH INCLUSIVE COMMUNITY DEVELOPMENT.

Program Service Accomplishments

Program 1

Expenses: $2,272,994 Revenue: $773,996

REAL ESTATE DEVELOPMENT: HI REAL ESTATE FOCUSES ON BOTH AFFORDABLE HOUSING AND COMMERCIAL DEVELOPMENT. THE GOALS OF OUR AFFORDABLE HOUSING PROGRAM ARE TO HELP EXISTING HOMEOWNERS STAY IN THEIR HOMES BY WORKING WITH THEM TO COMPLETE NEEDED DEFERRED MAINTENANCE ITEMS; TO HELP HAZELWOOD RENTERS TO BECOME HOMEOWNERS, AND TO FACILITATE THE PRESERVATION AND DEVELOPMENT OF AFFORDABLE RENTAL HOUSING. THE GOALS OF OUR COMMERCIAL DEVELOPMENT PROGRAM ARE TO ENSURE THE NEIGHBORHOOD BUSINESS DISTRICT BECOMES A WALKABLE, VIBRANT TOWN CENTER AS WELL AS TO SUPPORT THE GROWTH OF DEVELOPMENT OF 40 ENTREPRENEURS, SMALL BUSINESSES, & ORGANIZATIONS.

Program 2

Expenses: $120,824 Revenue: $71,060

ENGAGEMENT AND OUTREACH: HI PUBLISHES A MONTHLY COMMUNITY NEWSPAPER THAT IS DELIVERED TO APPROXIMATELY 10,000 HOUSEHOLDS IN AND AROUND THE HAZELWOOD NEIGHBORHOOD TO KEEP THE COMMUNITY INFORMED ABOUT COMMUNITY AND REGIONAL HAPPENINGS. HI ALSO OPERATES SMALL GRANTS PROGRAM TO SUPPORT NEIGHBORHOOD-BASED SMALL BUSINESSES AND ORGANIZATIONS AND LOW- & MODERATE-INCOME HOUSEHOLDS. ADDITIONALLY, HI PROVIDES REGULAR OPEN FORUMS FOR NEIGHBORS TO BUILD COMMUNITY, ADVOCATE FOR BETTER SERVICES, AND ENJOY COMMUNITY-BUILDING AND SOCIAL ACTIVITIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,178,333

Program Service Revenue $839,913

Investment Income $-241,118

Other Revenue $5,143

TOTAL REVENUE $2,782,271

Expense Breakdown

Grants Paid $405,680

Salaries & Benefits $453,093

Fundraising Expenses $40,738

Program Expenses $2,393,818

Other Expenses $2,001,855

TOTAL EXPENSES $2,860,628

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,782,271	$3,197,103	-0.1%
Expenses	$2,860,628	$2,692,305	+0.1%
Net Income	$-78,357	$504,798	-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

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

$113,044

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RENA HALSEL	BOARD MEMBER	5.00	Director	$0	$0	$0
JOURDAN HICKS	CHAIR	5.00	Officer Director	$0	$0	$0
AMBER ROOKE	VICE CHAIR	5.00	Officer Director	$0	$0	$0
FRAN BERTONASCHI	TREASURER	5.00	Officer Director	$0	$0	$0
MIKAL MERLINA	BOARD MEMBER	5.00	Director	$0	$0	$0
GAVIN WHITE	SECRETARY	5.00	Officer Director	$0	$0	$0
ANGELO VAUGHN	BOARD MEMBER	5.00	Director	$0	$0	$0
TERRI SHIELDS	BOARD MEMBER	5.00	Director	$0	$0	$0
WILLIAM KULINA	BOARD MEMBER	5.00	Director	$0	$0	$0
KIM WYNNYCKYJ	BOARD MEMBER	5.00	Director	$0	$0	$0
SONYA TILGHMAN	EXECUTIVE DIRECTOR	40.00	Officer	$105,674	$7,370	$113,044

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	No data	No data	No data	No data
2023	$2,782,271	$2,860,628	$14,173,808	$-78,357
2022	$3,197,103	$2,692,305	$14,161,652	$504,798
2021	$2,940,670	$2,040,080	$12,916,299	$900,590
2020	$1,745,982	$1,684,596	$10,863,720	$61,386