TRUTH IN ACCOUNTING

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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

Principal Officer

SHEILA WEINBERG

Phone

8478355200

Tax Period

2024-01-01 to 2024-12-31

TRUTH IN ACCOUNTING, founded in 2002, is a small nonprofit in the Public & Societal Benefit sector that reported $246K in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $218K left a modest 11% surplus.

Mission

EDUCATING AND EMPOWERING CITIZENS WITH UNDERSTANDABLE, RELIABLE, AND TRANSPARENT GOVERNMENTAL FINANCIAL INFORMATION.

Program Service Accomplishments

Program 1

Expenses: $177,397 Revenue: $3,476

EDUCATIONAL PROGRAMS AND MATERIALS: EDUCATING THE PUBLIC ABOUT FEDERAL, STATE AND LOCAL GOVERNMENTS' FINANCIAL CONDITIONS THROUGH WEB PAGES, ONLINE POSTING, MEETINGS WITH AND SPEAKING TO GROUPS AND INDIVIDUALS, PREPARING AND DISTRIBUTING RESEARCH DOCUMENTS AND EDUCATIONAL MATERIAL, AND PROMOTING ACCURATE AND CONSISTENT GOVERNMENTAL ACCOUNTING STANDARDS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $240,572

Program Service Revenue $3,476

Investment Income $1,481

Other Revenue $0

TOTAL REVENUE $245,529

Expense Breakdown

Grants Paid $0

Salaries & Benefits $37,255

Fundraising Expenses $27,135

Program Expenses $177,397

Other Expenses $181,054

TOTAL EXPENSES $218,309

Year-over-Year Comparison

	2024	2023	Change
Revenue	$245,529	$215,419	+0.1%
Expenses	$218,309	$239,206	-0.1%
Net Income	$27,220	$-23,787	-2.1%

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

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
SHEILA A WEINBERG	CEO/BOARD MEMBER/PRESIDENT	40.00	Officer Director	$0	$0	$0
TOM WRIGHT	BOARD MEMBER/CHAIR OF DEVE	1.00	Director	$0	$0	$0
VINCENT KOLBER	BOARD MEMBER/TREASURER	1.00	Officer Director	$0	$0	$0
CHUCK CHOKEL	BOARD MEMBER	1.00	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
2024	$245,529	$218,309	$231,983	$27,220
2023	$215,419	$239,206	$198,897	$-23,787
2022	$274,931	$223,939	$263,525	$50,992
2021	$951,588	$636,136	$201,511	$315,452
2020	$557,930	$735,358	$72,187	$-177,428
2019	$809,093	$786,233	$100,998	$22,860