THE HONEYWELL FOUNDATION INC (EIN 350390706) - 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

1941

Legal Domicile

Phone

2605631102

Tax Period

2023-10-01 to 2024-09-30

THE HONEYWELL FOUNDATION INC, founded in 1941, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $12.7M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $14.3M exceeded revenue, resulting in a 12% operating deficit.

Mission

THE HONEYWELL FOUNDATION PROVIDES DIVERSE PROGRAMMING INCLUDING YOUTH ARTS EDUCATION OFFERINGS; VISUAL ART WORKSHOPS, EXHIBITS & COMPETITIONS; & PERFORMING ARTS OPPORTUNITIES.

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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 $1,290,268

Program Service Revenue $8,670,961

Investment Income $2,034,473

Other Revenue $695,917

TOTAL REVENUE $12,691,619

Expense Breakdown

Grants Paid $25,590

Salaries & Benefits $4,680,908

Fundraising Expenses $800,775

Program Expenses $11,575,430

Other Expenses $9,561,780

TOTAL EXPENSES $14,268,278

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,691,619	$10,114,474	+0.3%
Expenses	$14,268,278	$11,501,396	+0.2%
Net Income	$-1,576,659	$-1,386,922	+0.1%

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

164

Volunteers

150

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

$785,439

Total Directors

$361,941

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bruce Trump	Treasurer	2.0	Officer Director	$0	$0	$0
Jack Wiley	Secretary	2.0	Officer Director	$0	$0	$0
Richard Church	Vice Chair	2.0	Officer Director	$0	$0	$0
Sally Krouse	Chair	5.0	Officer Director	$0	$0	$0
Tod Minnich	President/CEO	48.0	Officer Director	$310,747	$51,194	$361,941
Angie Beauchamp	Director	2.0	Director	$0	$0	$0
Dennis Dickos	Director	2.0	Director	$0	$0	$0
Howard Halderman	Director	2.0	Director	$0	$0	$0
Jeanne Mirro	Director	2.0	Director	$0	$0	$0
Lisa Gilman	Director	2.0	Director	$0	$0	$0
Melisa McCann	Director	2.0	Director	$0	$0	$0
Steve Ford	Director	2.0	Director	$0	$0	$0
Steve Forrester	Director	2.0	Director	$0	$0	$0
Ty Renbarger	Director	2.0	Director	$0	$0	$0
Cathy Gatchel	Chief Development Officer	48.0	Officer	$167,219	$34,641	$201,860
Kyle Dubois	Chief Operating Officer	48.0	Officer	$172,325	$49,313	$221,638
Emily Shannon	VP of Marketing	48.0	Highest	$110,881	$15,314	$126,195
Jessica Hein	VP of Human Resources	48.0	Highest	$120,389	$17,559	$137,948

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	$12,691,619	$14,268,278	$107,518,578	$-1,576,659
2023	$10,114,474	$11,501,396	$94,494,433	$-1,386,922
2022	$14,961,182	$10,246,903	$89,024,456	$4,714,279
2021	$11,061,690	$6,786,931	$96,441,620	$4,274,759
2020	$10,032,875	$6,833,151	$84,680,568	$3,199,724
2019	$18,265,945	$7,589,126	$78,472,445	$10,676,819
2018	$10,441,108	$7,121,660	$66,288,499	$3,319,448

THE HONEYWELL FOUNDATION INC