INDIANA STATE NURSES ASSOCIATION

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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

1903

Legal Domicile

Principal Officer

KATHERINE FELEY

Phone

3172994575

Tax Period

2025-01-01 to 2025-06-30

INDIANA STATE NURSES ASSOCIATION, founded in 1903, is a small nonprofit that reported $188K in total revenue in fiscal year 2025. Revenue fell 39% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $33K, a strong 18% operating margin.

Mission

TO ADVOCATE FOR SAFE AND SUPPORTIVE ENVIRONMENTS WHERE NURSING PROFESSIONALS FEEL EMPOWERED, VALUED, AND RESPECTED.

Program Service Accomplishments

Program 1

ADVOCATING FOR HEALTH POLICIES THAT SUPPORT INDIANA'S NURSES AND PATIENTS.

Program 2

CONTINUING NURSE EDUCATION CONTACT HOUR EVENTS TO PROVIDE LEARNING OPPORTUNITIES FOR INDIANA'S NURSES.

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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 (2025)

Revenue Breakdown

Contributions & Grants $40,000

Program Service Revenue $145,551

Investment Income $1,964

Other Revenue $0

TOTAL REVENUE $187,515

Expense Breakdown

Grants Paid $0

Salaries & Benefits $85,985

Fundraising Expenses $0

Other Expenses $68,658

TOTAL EXPENSES $154,643

Year-over-Year Comparison

	2025	2024	Change
Revenue	$187,515	$305,446	-0.4%
Expenses	$154,643	$314,858	-0.5%
Net Income	$32,872	$-9,412	-4.5%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHALINI ALIM	PRESIDENT	1.00	Officer Director	$0	$0	$0
MICHELLE SPANGLER	SECRETARY	1.00	Officer Director	$0	$0	$0
HEIDI BUFFENBARGER	TREASURER	1.00	Officer Director	$0	$0	$0
BRIAN ARWOOD	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
RACHAEL SPENCER	DIRECTOR	1.00	Director	$0	$0	$0
KIRBIE YOUNG	DIRECTOR	1.00	Director	$0	$0	$0
JASON KING	DIRECTOR	1.00	Director	$0	$0	$0
EMILY SEGO	DIRECTOR	1.00	Director	$0	$0	$0
BRANDY HOLMES	DIRECTOR	1.00	Director	$0	$0	$0
KATHERINE FELEY	CEO	40.00	Officer	$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
2025	$187,515	$154,643	$531,777	$32,872
2024	No data	No data	No data	No data
2023	$280,062	$317,105	$457,675	$-37,043
2022	$297,839	$320,951	$463,169	$-23,112
2021	$322,467	$302,518	$560,804	$19,949
2021	$300,721	$299,441	$546,528	$1,280
2020	$443,285	$312,148	$523,065	$131,137
2019	$267,953	$336,828	$380,925	$-68,875
2018	$517,756	$533,283	$427,776	$-15,527