DAVE THOMAS FOUNDATION FOR ADOPTION (EIN 311356151) - 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

1992

Legal Domicile

Principal Officer

RITA L SORONEN

Phone

8002753832

Tax Period

2023-07-01 to 2024-06-30

DAVE THOMAS FOUNDATION FOR ADOPTION, founded in 1992, is a mid-sized nonprofit in the Unknown sector that reported $56.1M in total revenue in fiscal year 2023. The organization ran a surplus of $11.6M, a strong 21% operating margin.

Mission

TO INCREASE THE NUMBER OF ADOPTIONS OF WAITING CHILDREN FROM NORTH AMERICA'S FOSTER CARE SYSTEMS.

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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 $51,321,470

Program Service Revenue $148,178

Investment Income $4,290,037

Other Revenue $362,022

TOTAL REVENUE $56,121,707

Expense Breakdown

Grants Paid $26,671,479

Salaries & Benefits $8,612,374

Fundraising Expenses $4,082,663

Program Expenses $37,173,005

Other Expenses $7,442,360

TOTAL EXPENSES $44,555,925

Year-over-Year Comparison

	2023	2022	Change
Revenue	$56,121,707	$52,421,388	+0.1%
Expenses	$44,555,925	$40,455,373	+0.1%
Net Income	$11,565,782	$11,966,015	0.0%

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

$716,295

Total Directors

$500,343

Key Employees

$963,938

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RITA L SORONEN	PRESIDENT & CEO	40.00	Officer Director	$479,248	$21,095	$500,343
ROBERT GEEN	CHAIRMAN	1.00	Officer Director	$0	$0	$0
DEEPAK AJMANI	VICE CHAIR	1.00	Officer Director	$0	$0	$0
TODD PENEGOR	TREASURER (EXITED 02/24)	1.00	Officer Director	$0	$0	$0
MIKE O'MALLEY	SECRETARY	1.00	Officer Director	$0	$0	$0
RICHARD KRUMHOLZ TRUSTEE	(THRU 1/24), TREASURER (EFF. 1/24)	1.00	Officer Director	$0	$0	$0
JULIE BIESZCZAT	TRUSTEE	1.00	Director	$0	$0	$0
LAURA BUTRICO	TRUSTEE	1.00	Director	$0	$0	$0
ERIC DALY	TRUSTEE	1.00	Director	$0	$0	$0
PAMELA FARBER	TRUSTEE	1.00	Director	$0	$0	$0
JELANI FREEMAN	TRUSTEE	1.00	Director	$0	$0	$0
KRIS KAFFENBARGER	TRUSTEE	1.00	Director	$0	$0	$0
JHONNY MERCADO	TRUSTEE	1.00	Director	$0	$0	$0
BLAIR MILLER	TRUSTEE	1.00	Director	$0	$0	$0
SCOTT MOESCHBERGER	TRUSTEE	1.00	Director	$0	$0	$0
WENDY THOMAS MORSE	TRUSTEE	1.00	Director	$0	$0	$0
SEAN NIKLAS	TRUSTEE	1.00	Director	$0	$0	$0
M COLEY O'BRIEN	TRUSTEE	1.00	Director	$0	$0	$0
TERRY STIGDON	TRUSTEE (ENTERED 01/24)	1.00	Director	$0	$0	$0
PETE SUERKEN	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL WELCH	TRUSTEE (ENTERED 01/24)	1.00	Director	$0	$0	$0
TAMIKA WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
MIKE ZAK	TRUSTEE	1.00	Director	$0	$0	$0
ERIC SPIRES	SENIOR VP, CFO	40.00	Officer	$188,697	$27,255	$215,952
JILL CRUMBACHER	SVP, MARKETING & DEVELOPMENT	40.00	Key Emp	$212,198	$35,434	$247,632
JENNIFER JUSTICE	SVP, STRATEGIC PROGRAM DEVELOPMENT	40.00	Key Emp	$213,552	$30,835	$244,387
DAVID FRISSORA	SVP, BUSINESS DEVELOPMENT	40.00	Key Emp	$200,023	$37,575	$237,598
MELINDA HAGGERTY	SVP & GENERAL COUNSEL	40.00	Key Emp	$197,869	$36,452	$234,321
JULIANNE NICHOLS	VP, MARKETING & COMMUNICATIONS	40.00	Highest	$145,196	$25,965	$171,161
ANDREA GLASS	VP, PROGRAMS	40.00	Highest	$131,621	$23,694	$155,315
DEAN BRING	VP, DEVELOPMENT	40.00	Highest	$132,801	$28,688	$161,489
ANGELA MARSHALL	DIRECTOR, WENDY'S WONDERFUL KIDS	40.00	Highest	$118,767	$23,511	$142,278
MELISSA ECK	SENIOR DIRECTOR, DATA	40.00	Highest	$109,955	$22,361	$132,316

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	$56,121,707	$44,555,925	$107,334,376	$11,565,782
2023	$52,421,388	$40,455,373	$94,085,268	$11,966,015
2022	$45,774,004	$36,840,238	$82,316,858	$8,933,766
2021	$39,207,140	$28,821,951	$65,372,837	$10,385,189
2020	$28,219,535	$30,279,729	$50,095,040	$-2,060,194
2019	$30,142,217	$25,893,010	$50,123,644	$4,249,207

DAVE THOMAS FOUNDATION FOR ADOPTION