HERALD FOUNDATION

EIN: 341689754 501(c)(3) Education

ASHTABULA, OH

Total Revenue
$55
Total Expenses
$66
Total Assets
N/A
Net Assets
N/A
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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
2002
Legal Domicile
OH
Phone
4409927045
Tax Period
2021-09-01 to 2022-08-31

HERALD FOUNDATION, founded in 2002, is a micro nonprofit in the Education sector that reported $55 in total revenue in fiscal year 2021. Revenue surged 267% from the prior year, signaling strong growth momentum. Expenses of $66 exceeded revenue, resulting in a 20% operating deficit.

Mission

PROMOTE GOOD CATHOLIC EDUCATION TO CHILDREN

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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 (2021)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $55
Other Revenue $0
TOTAL REVENUE $55

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $66
Other Expenses $66
TOTAL EXPENSES $66

Year-over-Year Comparison

2021 2020 Change
Revenue $55 $15 +2.7%
Expenses $66 $481 -0.9%
Net Income $-11 $-466 -1.0%
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

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
20

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
0
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NICK DETORE PRESIDENT 2.00
Director
$0 $0 $0
PETER TULINO TRUSTEE 2.00
Director
$0 $0 $0
ED LOOMAN TRUSTEE 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
2022 $55 $66 No data $-11
2021 $15 $481 No data $-466
2020 $24 $481 $20,140 $-457
2019 $27 $10,481 $20,602 $-10,454
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