Rwanda Girls Initiative

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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

Hillary Carey

Phone

2067754174

Tax Period

2024-09-01 to 2025-08-31

Rwanda Girls Initiative, founded in 2008, is a community nonprofit in the Human Services sector that reported $2.0M in total revenue in fiscal year 2024.

Mission

Rwanda Girls Initiative is a nonprofit organization dedicated to educating and empowering girls in Rwanda through access to high-quality secondary education. By supporting the Gashora Girls Academy, the organization provides scholarships, leadership development, and STEM-focused learning opportunities to help young women reach their full potential and become future leaders in their communities.

Program Service Accomplishments

Program 1

Expenses: $1,730,192

Rwanda Girls Initiative continued to advance its exempt purpose by supporting educational opportunities for girls in Rwanda through funding for student tuition, room and board, school supplies, and other education-related expenses. The organization also supported school operations, student programs, staff development, technology and equipment needs, and activities that promote leadership, academic achievement, and student well-being at Gashora Girls Academy. Additionally, the organization conducted fundraising and outreach efforts to sustain scholarships and educational programming for underserved students.

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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 $1,811,248

Program Service Revenue $0

Investment Income $104,306

Other Revenue $70,667

TOTAL REVENUE $1,986,221

Expense Breakdown

Grants Paid $1,494,627

Salaries & Benefits $265,836

Fundraising Expenses $188,251

Program Expenses $1,730,192

Other Expenses $316,537

TOTAL EXPENSES $2,077,000

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,986,221	$1,997,291	0.0%
Expenses	$2,077,000	$1,480,537	+0.4%
Net Income	$-90,779	$516,754	-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

$181,876

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HILLARY CAREY	Executive Dir.	16.00	Officer	$181,876	$0	$181,876
SUZANNE MCGILL	President	20.00	Officer Director	$0	$0	$0
THIEN-DI DO	Vice President	5.00	Officer Director	$0	$0	$0
LINDSAY BECK	Treasurer	5.00	Officer Director	$0	$0	$0
NICHOLE HEIDRICK	Director	2.00	Director	$0	$0	$0
LARISSA KAZE	Director	2.00	Director	$0	$0	$0
ED TAYLOR	Director	2.00	Director	$0	$0	$0
TERESA WELLS	Director	2.00	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
2025	$1,986,221	$2,077,000	$3,014,796	$-90,779
2024	$1,997,291	$1,480,537	$3,087,515	$516,754
2023	$545,154	$1,184,464	$2,569,261	$-639,310
2022	$1,767,847	$1,240,484	$3,213,168	$527,363
2021	$1,566,998	$2,433,689	$3,051,880	$-866,691
2020	$1,663,855	$2,740,404	$3,977,125	$-1,076,549
2019	$1,852,116	$3,283,023	$4,996,692	$-1,430,907
2018	$2,109,594	$2,895,091	$6,428,520	$-785,497