K-LOVE & AIR1 FOUNDATION

EIN: 266579467 501(c)(3) Education

ROCKLIN, CA

Total Revenue
$328,960
Total Expenses
$520,660
Total Assets
$1,215,778
Net Assets
$823,038
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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
CA
Principal Officer
TOM STULTZ
Phone
9162511600
Tax Period
2024-01-01 to 2024-12-31

K-LOVE & AIR1 FOUNDATION, founded in 2008, is a small nonprofit in the Education sector that reported $329K in total revenue in fiscal year 2024. Revenue fell 76% from the prior year — a significant decline worth monitoring. Expenses of $521K exceeded revenue, resulting in a 58% operating deficit.

Mission

KLOVE & AIR1 FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS AND EDUCATIONAL PURPOSES AND FOR THE SUPPORT OR BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES PRIMARILY OF EDUCATIONAL MEDIA FOUNDATION AND OTHER EXEMPT ORGANIZATIONS WHICH SUPPORT AND PROMOTE CHRISTIAN EVANGELISM, EDIFICATION, AND VALUES.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $240,000
Investment Income $750
Other Revenue $88,210
TOTAL REVENUE $328,960

Expense Breakdown

Grants Paid $0
Salaries & Benefits $357,712
Fundraising Expenses $8,795
Program Expenses $374,503
Other Expenses $162,948
TOTAL EXPENSES $520,660

Year-over-Year Comparison

2024 2023 Change
Revenue $328,960 $1,369,468 -0.8%
Expenses $520,660 $1,878,694 -0.7%
Net Income $-191,700 $-509,226 -0.6%
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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Governance

Voting Members
1
Independent Members
1
Employees
8
Volunteers
6

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
6
$1,819,903
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TODD WOODS CEO/DIRECTOR (ENDED 5/15/24) 50.00
Officer
$0 $48,455 $688,340
TOM STULTZ CEO/DIRECTOR 50.00
Officer
$0 $1,079 $159,099
MATTHEW REYNOLDS CFO/TREASURER 50.00
Officer
$0 $43,283 $334,847
KENDRA HICKEY ASSISTANT TREASURER 50.00
Officer
$0 $34,806 $199,596
SUSAN MYERS COUNSEL/SECRETARY 50.00
Officer
$0 $17,956 $217,185
RORY MCKEAN ASSISTANT SECRETARY (ENDED 4/2025) 50.00
Officer
$0 $31,324 $220,836
JANET CHERRY FORMER CHIEF OPERATIONS OFFICER 50.00
$0 $0 $330,971
JOSEPH MILLER FORMER ASST TREASURER (ENDED 12/2023) 50.00
$0 $33,725 $325,442
DAVID ATKINSON FORMER CFO 50.00
$0 $0 $317,281
N/A INSTITUTIONAL TRUSTEE 1.00
$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
2024 $328,960 $520,660 $1,215,778 $-191,700
2023 $1,369,468 $1,878,694 $1,541,250 $-509,226
2022 $1,487,883 $1,369,480 $3,957,051 $118,403
2021 $1,329,742 $1,398,413 $3,903,080 $-68,671
2020 $698,937 $1,566,980 $3,914,152 $-868,043
2019 $197,028 $436,676 $4,159,105 $-239,648
2018 No data $2,500 $100 No data
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