Garfield Heritage Society (EIN 362943960) - 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

1977

Legal Domicile

Principal Officer

Jerome Johnson

Phone

6305848485

Tax Period

2024-01-01 to 2024-12-31

Garfield Heritage Society, founded in 1977, is a small nonprofit in the Arts, Culture & Humanities sector that reported $237K in total revenue in fiscal year 2024. Revenue surged 60% from the prior year, signaling strong growth momentum. Expenses of $221K left a modest 7% surplus.

Mission

A historical and education agency. Preservation, restoration and interpretation of the cultural, agricultural and environmental heritage of Northern Illinois, in particular using Garfield Farm as a working farm museum.

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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 $159,253

Program Service Revenue $23,090

Investment Income $54,444

Other Revenue $0

TOTAL REVENUE $236,787

Expense Breakdown

Grants Paid $0

Salaries & Benefits $70,833

Fundraising Expenses $6,356

Program Expenses $192,952

Other Expenses $150,354

TOTAL EXPENSES $221,187

Year-over-Year Comparison

	2024	2023	Change
Revenue	$236,787	$147,769	+0.6%
Expenses	$221,187	$193,365	+0.1%
Net Income	$15,600	$-45,596	-1.3%

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

100

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

$67,713

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Donna Neiler	President	3.00	Director	$0	$0	$0
Sue Morton Lloyd	Director	1.00	Director	$0	$0	$0
Marty Germann	Director	1.00	Director	$0	$0	$0
Sally Gange	Secretary	1.00	Director	$0	$0	$0
Christa Thurman Sala	Vice President	1.00	Director	$0	$0	$0
Jerome Johnson	Executive Director	25.00	Officer	$0	$3,338	$67,713
Sharon Polifrone	Treasurer	1.00	Director	$0	$0	$0
Dan Busse	Director	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	$236,787	$221,187	$1,367,080	$15,600
2023	$147,769	$193,365	$1,351,166	$-45,596
2022	$275,799	$410,786	$1,397,931	$-134,987
2021	$647,077	$164,102	$1,531,390	$482,975
2020	$137,386	$160,135	$1,047,306	$-22,749
2019	$180,882	$208,269	$1,071,527	$-27,387
2018	$218,262	$194,807	$1,098,229	$23,455

Garfield Heritage Society