Wetlands Research Inc

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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

1983

Legal Domicile

Principal Officer

James Hayner

Phone

8476627203

Tax Period

2025-01-01 to 2025-12-31

Wetlands Research Inc, founded in 1983, is a micro nonprofit that reported $2K in total revenue in fiscal year 2025. Revenue fell 50% from the prior year — a significant decline worth monitoring. Expenses of $65K exceeded revenue, resulting in a 2972% operating deficit.

Mission

Wetlands Research, Inc. is dedicated to restoring the wetland resources of the Midwest through ongoing research of flood control, improved water quality, and wildlife habitat restoration.

Program Service Accomplishments

Program 1

Expenses: $57,390

Mitigation Banking A wetland mitigation bank is a large tract of created or restored wetlands that has been restored and managed with the approval of the U.S. Army Corps of Engineers.

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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 $0

Program Service Revenue $0

Investment Income $1,996

Other Revenue $131

TOTAL REVENUE $2,127

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $57,390

Other Expenses $65,343

TOTAL EXPENSES $65,343

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,127	$4,250	-0.5%
Expenses	$65,343	$23,510	+1.8%
Net Income	$-63,216	$-19,260	+2.3%

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

N/A

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
James Hayner	President	001.00	Officer Director	$0	$0	$0
Stephan E Phillips	Vice President	001.00	Officer Director	$0	$0	$0
Kathleen Paap	Secretary	001.00	Officer Director	$0	$0	$0
Tom Pyatt	Member	001.00	Director	$0	$0	$0
Ken Frank	Member	001.00	Director	$0	$0	$0
Rob Johnston	Member	001.00	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
2025	$2,127	$65,343	$1,782,540	$-63,216
2024	$4,250	$23,510	$1,845,756	$-19,260
2023	$2,578	$25,758	$1,865,016	$-23,180
2022	$2,351,765	$94,334	$1,895,526	$2,257,431
2021	$53,687	$45,832	$1,894,463	$7,855
2020	$30,041	$362,797	$1,985,605	$-332,756
2019	$620,724	$356,403	$2,107,124	$264,321
2018	$491,495	$312,435	$1,893,971	$179,060