HEARTLAND WORKFORCE SOLUTIONS INC

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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

2010

Legal Domicile

Principal Officer

ERIN PORTERFIELD

Phone

4022181166

Tax Period

2022-07-01 to 2023-06-30

HEARTLAND WORKFORCE SOLUTIONS INC, founded in 2010, is a community nonprofit in the Education sector that reported $5.4M in total revenue in fiscal year 2022. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $5.1M left a modest 5% surplus.

Mission

HEARTLAND WORFORCE SOLUTIONS IS DEDICATED TO DEVELOPING AND CONNECTING INDIVIDUALS TO EMPLOYMENT.

Program Service Accomplishments

Program 1

Expenses: $4,227,722 Revenue: $286,386

THE WORKFORCE INNOVATION AND OPPORTUNITY ACT (WIOA) REFORMS FEDERAL JOB TRAINING PROGRAMS AND CREATES A NEW, COMPREHENSIVE WORKFORCE SYSTEM. THE REFORMED SYSTEM IS INTEDED TO BE CUSTOMER-FOCUSED, TO HELP AMERICANS ACCESS THE TOOLS THEY NEED TO MANAGE THEIR CAREERS THROUGH INFORMATION AND HIGH QUALITY SERVICES, AND TO HELP U.S. COMPANIES FIND SKILLED WORKERS.

Program 2

Expenses: $692,454 Revenue: $0

THE CAREER READINESS TO ELIMINATE DISPARITIES (CRED) STRATEGIC INITIATIVE, BY HEARTLAND WORKFORCE SOLUTIONS, IS UTILIZING THE ACT NATIONAL CAREER READINESS CERTIFICATE (NCRC), AND THE ACT WORK READY COMMUNITIES CERTIFICATION PROCESS, AS THE MAIN STRATEGY TO ADDRESS THE NEED TO FIND MORE EFFECTIVE WAYS TO INTRODUCE JOB SEEKERS TO CAREER OPPORTUNITIES THAT EXIST IN OUR COMMUNITY. THESE TACTICS ARE BEING IMPLEMENTED WITH A PARTICULAR FOCUS ON INDIVIDUALS FROM HIGH POVERTY/HIGH UNEMPLOYMENT AREA CENSUS TRACTS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $5,111,901

Program Service Revenue $286,802

Investment Income $0

Other Revenue $0

TOTAL REVENUE $5,398,703

Expense Breakdown

Grants Paid $2,992,455

Salaries & Benefits $1,011,043

Fundraising Expenses $1,147

Program Expenses $4,920,176

Other Expenses $1,106,798

TOTAL EXPENSES $5,110,296

Year-over-Year Comparison

	2022	2021	Change
Revenue	$5,398,703	$4,889,078	+0.1%
Expenses	$5,110,296	$4,893,924	+0.0%
Net Income	$288,407	$-4,846	-60.5%

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

$322,750

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARA HANSEN	CHAIR	1.00	Officer Director	$0	$0	$0
JOHN STAUP	VICE CHAIR	1.00	Officer Director	$0	$0	$0
PATRICIA KEARNS	SECRETARY	1.00	Officer Director	$0	$0	$0
KURT MEISINGER	TREASURER	1.00	Officer Director	$0	$0	$0
SHEILA BACON	MEMBER	1.00	Director	$0	$0	$0
LINDSEY BORGESON	MEMBER	1.00	Director	$0	$0	$0
AARON BOWEN	MEMBER	1.00	Director	$0	$0	$0
LIZ COOK	MEMBER	1.00	Director	$0	$0	$0
BRETT DEHART	MEMBER	1.00	Director	$0	$0	$0
JERRY DEMPSEY	MEMBER	1.00	Director	$0	$0	$0
STEVE DETHELFS	MEMBER	1.00	Director	$0	$0	$0
DEB DIXON	MEMBER	1.00	Director	$0	$0	$0
JOHN HANSON	MEMBER	1.00	Director	$0	$0	$0
TIM JEFFERSON	MEMBER	1.00	Director	$0	$0	$0
TAMMY GREEN	MEMBER	1.00	Director	$0	$0	$0
MIKE BUNACH	MEMBER	1.00	Director	$0	$0	$0
JARED HAGER	MEMBER	1.00	Director	$0	$0	$0
KEITH STATION	MEMBER	1.00	Director	$0	$0	$0
JOHN FONDA	MEMBER	1.00	Director	$0	$0	$0
PAUL MOORE	MEMBER	1.00	Director	$0	$0	$0
SHAYLA PIERCE	MEMBER	1.00	Director	$0	$0	$0
DAN HUSE	MEMBER	1.00	Director	$0	$0	$0
CHRIS RODGERS	MEMBER	1.00	Director	$0	$0	$0
ARMANDO SALGADO	MEMBER	1.00	Director	$0	$0	$0
KEISHA THOMAS	MEMBER	1.00	Director	$0	$0	$0
BRIAN TURNER	MEMBER	1.00	Director	$0	$0	$0
ERIC STUECKRATH	MEMBER	1.00	Director	$0	$0	$0
GARY MIXAN	MEMBER	1.00	Director	$0	$0	$0
LAUREL OETKEN	MEMBER	1.00	Director	$0	$0	$0
ERIN PORTERFIELD	EXECUTIVE DIRECTOR	40.00	Officer	$168,481	$22,052	$190,533
MICHAEL PHILLIPS	CHEIF FINANCIAL OFFICER	40.00	Officer	$101,967	$30,250	$132,217

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	No data	No data	No data	No data
2023	$5,398,703	$5,110,296	$2,603,397	$288,407
2022	$4,889,078	$4,893,924	$1,052,997	$-4,846
2021	$4,344,047	$4,727,698	$1,158,696	$-383,651
2020	$4,556,476	$4,427,199	$1,138,051	$129,277
2019	$4,156,212	$4,248,981	$1,165,061	$-92,769
2018	$4,129,308	$4,111,625	$1,417,460	$17,683