INVESTIGATIVE NEWSOURCE (EIN 270732786) - 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

2009

Legal Domicile

Principal Officer

LORIE HEARN

Phone

6195003370

Tax Period

2023-07-01 to 2024-06-30

INVESTIGATIVE NEWSOURCE, founded in 2009, is a community nonprofit in the Education sector that reported $2.0M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $2.2M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO EDUCATE THE PUBLIC, CONDUCT PUBLIC INTEREST RESEARCH, IMPROVE SOCIAL CONDITIONS, BETTER SERVE THE PUBLIC INTEREST BY PROVIDING DATA-DRIVEN INVESTIGATIVE JOURNALISM IN SAN DIEGO AND IMPERIAL COUNTIES.

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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 $1,951,664

Program Service Revenue $4,301

Investment Income $889

Other Revenue $0

TOTAL REVENUE $1,956,854

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,740,886

Fundraising Expenses $365,027

Program Expenses $1,497,443

Other Expenses $421,661

TOTAL EXPENSES $2,162,547

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,956,854	$1,667,153	+0.2%
Expenses	$2,162,547	$2,631,565	-0.2%
Net Income	$-205,693	$-964,412	-0.8%

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

$114,411

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SANDRA TIMMONS	BOARD CHAIR	8.00	Officer Director	$0	$0	$0
MARK DILLON	BOARD VICE CHAIR	2.00	Officer Director	$0	$0	$0
ATUL PATEL	TREASURER	2.00	Officer Director	$0	$0	$0
HEATHER WHITLEY QUINN	SECRETARY	1.00	Officer Director	$0	$0	$0
SARAH BAHKIET	BOARD MEMBER	2.00	Director	$0	$0	$0
HEATHER BERGMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
STEPHANIE BERGSMA	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHELE CHIN-PURCELL	BOARD MEMBER	1.00	Director	$0	$0	$0
ELISABETH EISNER FORBES	BOARD MEMBER	2.00	Director	$0	$0	$0
DAVID FUHRIMAN	BOARD MEMBER	3.00	Director	$0	$0	$0
MATTHEW HALGREN	BOARD MEMBER	1.00	Director	$0	$0	$0
ELAINE HARWELL	BOARD MEMBER	2.00	Director	$0	$0	$0
KAREN LIU	BOARD MEMBER	2.00	Director	$0	$0	$0
SUSANNA VILLEGAS	BOARD MEMBER	4.00	Director	$0	$0	$0
KITTY WOLCOTT	BOARD MEMBER	3.00	Director	$0	$0	$0
LORIE HEARN	CEO AND EDITOR	40.00	Officer	$109,499	$4,912	$114,411
BARBARA JO KELSO	DIRECTOR OF PHILANTHROPY	40.00	Highest	$136,571	$5,318	$141,889
MARK ROCHESTER FORMER	MANAGING EDITOR	40.00		$103,581	$9,752	$113,333
JUSTIN RUSHING FORMER	DIRECTOR OF GROWTH AND PARTNER	40.00		$147,441	$12,315	$159,756
CARLA SANCHEZ	DIRECTOR OF FINANCE AND OPERATIONS	40.00	Highest	$119,677	$9,884	$129,561
JAMIE SELF	MANAGING EDITOR	40.00	Highest	$123,164	$22,542	$145,706

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	No data	No data	No data	No data
2024	$1,956,854	$2,162,547	$724,710	$-205,693
2023	$1,667,153	$2,631,565	$926,045	$-964,412
2022	$2,112,295	$2,116,384	$1,931,219	$-4,089
2021	$1,826,178	$1,656,385	$1,915,649	$169,793
2020	$1,750,785	$1,233,335	$1,875,934	$517,450
2019	$1,122,567	$1,083,434	$1,176,687	$39,133

INVESTIGATIVE NEWSOURCE