FORMATIVE 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

2007

Legal Domicile

Principal Officer

GARY SIMPSON

Phone

8059682541

Tax Period

2024-07-01 to 2025-06-30

FORMATIVE FOUNDATION, founded in 2007, is a small nonprofit in the Education sector that reported $488K in total revenue in fiscal year 2024. Revenue fell 41% from the prior year — a significant decline worth monitoring. Expenses of $1.0M exceeded revenue, resulting in a 108% operating deficit.

Mission

THE FOUNDATION'S MISSION IS TO PROVIDE FUNDING, CONNECTIONS AND GUIDANCE IN SUPPORT OF TRANSFORMATIVE LEARNING EXPERIENCES IN STEAM (SCIENCE, TECHNOLOGY, ENGINEERING, ART AND MATH) FOR PEOPLE OF ALL AGES TO DEVELOP THE CRITICAL THINKERS AND CREATIVE PROBLEM SOLVERS NEEDED TO MEET THE CHALLENGES OF TOMORROW.

Program Service Accomplishments

Program 1

Expenses: $504,630

TO SUPPORT THE DPEA BY PROVIDING FINANCIAL RESOURCES, LONG TERM DIRECTION, AND ENABLING SYSTEMS AND STRUCTURES. CONTINUING COSTS ARE INCURRED ONGOING TO UPGRADE AND MAINTAIN THE FACILITY AND...

TO SUPPORT THE DPEA BY PROVIDING FINANCIAL RESOURCES, LONG TERM DIRECTION, AND ENABLING SYSTEMS AND STRUCTURES. CONTINUING COSTS ARE INCURRED ONGOING TO UPGRADE AND MAINTAIN THE FACILITY AND EQUIPMENT AND TO PAY INSTRUCTOR'S SALARIES PURSUANT TO THE MEMORANDUM OF UNDERSTANDING BETWEEN THE FOUNDATION AND THE SCHOOL DISTRICT.

Program 2

Expenses: $321,251

MECHATRONICS PROGRAM - THE NEW CAPSTONE PROJECT FOR SENIOR YEAR STUDENTS. THIS PROJECT INVOLVES THE COMPREHENSIVE DESIGN, PROTOTYPING, FABRICATION AND EXHIBITION OF A MUSEUM-QUALITY KINETIC EXHIBIT.

Program 3

Expenses: $4,725

STEAM MUSEUM - THE FOUNDATION AND THE SANTA BARBARA UNIFIED SCHOOL DISTRICT ARE COLLABORATING ON IMPROVING AND EXPANDING THE ACADEMY FACILITIES THROUGH THE ADDITION OF A NEW STATE-OF-THE-ART CAREER TECHNICAL EDUCATION PAVILION FACILITY THAT WILL SUPPORT THE PRODUCT INNOVATION AND DESIGN AND MEDIA ARTS PATHWAYS AT DPHS. AS PLANNED, THE FACILITY WILL INCLUDE A FIRST-OF-ITS-KIND, STEAM TEACHING AND LEARNING MUSEUM IN WHICH STUDENTS WILL DISPLAY AND DEMONSTRATE THEIR PROFESSIONAL-QUALITY WORK AND SERVE AS DOCENTS AND GUIDES. THE FACILITY WILL BE OPEN TO SERVE THE COMMUNITY AND BE EXPERIENCED AS A YEAR-ROUND MAKER FAIRE. THE FACILITY WILL ALSO SERVE AS A TRAINING INSTITUTE FOR TEACHERS FROM AROUND THE COUNTRY.

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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 $302,956

Program Service Revenue $0

Investment Income $185,046

Other Revenue $0

TOTAL REVENUE $488,002

Expense Breakdown

Grants Paid $498,923

Salaries & Benefits $331,183

Fundraising Expenses $97,935

Program Expenses $830,606

Other Expenses $186,130

TOTAL EXPENSES $1,016,236

Year-over-Year Comparison

	2024	2023	Change
Revenue	$488,002	$830,768	-0.4%
Expenses	$1,016,236	$853,135	+0.2%
Net Income	$-528,234	$-22,367	+22.6%

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

N/A

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

$101,604

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE BROWN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
LIZ SALENTINE	SECRETARY	2.00	Officer Director	$0	$0	$0
JAMIE FLINT	TREASURER	5.00	Officer Director	$0	$0	$0
LISA COUCH	DIRECTOR	2.00	Director	$0	$0	$0
GREG HARTLEY	DIRECTOR	2.00	Director	$0	$0	$0
ECKART MEIBURG	DIRECTOR	2.00	Director	$0	$0	$0
MICHELLE PICKETT	PRESIDENT	4.00	Officer Director	$0	$0	$0
JOHN MCCLURE	DIRECTOR	2.00	Director	$0	$0	$0
JILL O'GORMAN	DIRECTOR	2.00	Director	$0	$0	$0
GARY SIMPSON	CEO	20.00	Officer	$101,604	$0	$101,604

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	$488,002	$1,016,236	$5,062,295	$-528,234
2024	$830,768	$853,135	$5,137,504	$-22,367
2023	$643,032	$1,008,317	$4,917,346	$-365,285
2022	$513,823	$596,544	$5,040,036	$-82,721
2021	$7,173,847	$3,926,665	$6,982,223	$3,247,182
2021	$7,173,847	$3,926,665	$6,982,223	$3,247,182
2020	$1,417,308	$384,356	$1,811,291	$1,032,952
2019	$847,603	$936,744	$779,307	$-89,141
2018	$774,710	$653,770	$867,486	$120,940