THIRD WAY INSTITUTE (EIN 260535276) - 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

JONATHAN COWAN

Phone

2023841700

Tax Period

2023-01-01 to 2023-12-31

THIRD WAY INSTITUTE, founded in 2006, is a mid-sized nonprofit in the Civil Rights & Advocacy sector that reported $18.4M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $20.4M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO SUPPORT CHARITABLE AND EDUCATIONAL ACTIVITIES THAT ADVANCE CENTRIST SOLUTIONS.

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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 $17,689,532

Program Service Revenue $0

Investment Income $745,671

Other Revenue $0

TOTAL REVENUE $18,435,203

Expense Breakdown

Grants Paid $19,809,000

Salaries & Benefits $224,000

Fundraising Expenses $5,216

Program Expenses $20,028,072

Other Expenses $406,102

TOTAL EXPENSES $20,439,102

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,435,203	$16,673,694	+0.1%
Expenses	$20,439,102	$18,624,669	+0.1%
Net Income	$-2,003,899	$-1,950,975	+0.0%

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

$1,323,894

Total Directors

$899,723

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JONATHAN COWAN	PRESIDENT	4.00	Officer Director	$0	$38,950	$452,478
BRENDA BETHEA	TREASURER UNTIL APRIL	2.00	Officer Director	$0	$11,195	$263,896
DAVID HELLER	TRUSTEE	2.00	Director	$0	$0	$0
JACQUIE LAWING EBERT	TRUSTEE	2.00	Director	$0	$0	$0
THURGOOD MARSHALL JR	TRUSTEE	2.00	Director	$0	$0	$0
ROGAN KERSH	TRUSTEE	2.00	Director	$0	$0	$0
STEVE J DIETERLE CFO	BOARD TREASURER AS OF JUNE	2.00	Officer Director	$0	$7,755	$183,349
MATTHEW BENNETT	SECRETARY	2.00	Officer	$0	$44,808	$424,171

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	$18,435,203	$20,439,102	$31,865,844	$-2,003,899
2022	$16,673,694	$18,624,669	$31,095,329	$-1,950,975
2021	$13,168,631	$13,609,991	$31,398,339	$-441,360
2020	$13,267,901	$12,133,756	$24,555,720	$1,134,145
2019	$12,100,620	$11,599,533	$23,801,324	$501,087
2018	$8,457,099	$211,169	$18,826,482	$8,245,930

THIRD WAY INSTITUTE