THE HEARTLAND INSTITUTE

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1984

Legal Domicile

Principal Officer

JAMES TAYLOR

Phone

3123774000

Tax Period

2024-01-01 to 2024-12-31

THE HEARTLAND INSTITUTE, founded in 1984, is a community nonprofit in the Public & Societal Benefit sector that reported $3.4M in total revenue in fiscal year 2024. Revenue decreased 19% compared to the prior year. Expenses of $3.7M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO DISCOVER, DEVELOP, AND PROMOTE FREE-MARKET SOLUTIONS TO SOCIAL AND ECONOMIC PROBLEMS, PUBLIC POLICY ISSUES, IN PRINT AND ONLINE.

Program Service Accomplishments

Program 1

Expenses: $535,888 Revenue: $18,008

PUBLICATIONS: RESEARCH, WRITING, AND DISTRIBUTION OF PUBLICATIONS ON DIGITAL ISSUES OF ONE NEWSPAPER (HEALTH CARE NEWS) AND DIGITAL VERSIONS OF ENVIRONMENT & CLIMATE NEWS, BUDGET & TAX NEWS, SCHOOL REFORM NEWS, AND RIGHTS, JUSTICE & CULTURE NEWS WHICH THE DEPARTMENT PRODUCED ONE PRINT QUARTERLY.

Program 2

Expenses: $562,405

HEARTLAND REPRESENTATIVES APPEARED IN PRINT, ONLINE, OR ON BROADCAST NEWSLETTER (THE HEARTLANDER) AND NINE WEEKLY OR BIWEEKLY EMAIL NEWSLETTERS (CLIMATE CHANGE WEEKLY, HEARTLAND WEEKLY, BUDGET & TAX NEWS, ENVIRONMENT & CLIMATE NEWS, HEALTH CARE NEWS, SCHOOL REFORM NEWS, STOPPING SOCIALISM, AND LIFE, LIBERTY, PROPERTY). HEARTLAND HAS 13 WEBSITES, 474,000 FANS OF ITS FACEBOOK PAGE, MORE THAN 94,609 TWITTER FOLLOWERS. HEARTLAND'S PODCASTS WERE DOWNLOADED HUNDREDS OF THOUSANDS OF TIMES, AND OUR VIDEOS GOT OVER 2.5 MILLION VIEWS.

Program 3

Expenses: $572,992

HEARTLAND HOSTED 15 INTERNATIONAL CONFERENCES ON CLIMATE CHANGE AND TWO AMERICA FIRST ENERGY CONFERENCES SINCE 2008 ATTENDED BY MORE THAN 5,500 PEOPLE.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,322,323

Program Service Revenue $2,905

Investment Income $9,951

Other Revenue $15,103

TOTAL REVENUE $3,350,282

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,374,043

Fundraising Expenses $657,924

Program Expenses $2,091,583

Other Expenses $1,329,696

TOTAL EXPENSES $3,703,739

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,350,282	$4,121,739	-0.2%
Expenses	$3,703,739	$4,098,056	-0.1%
Net Income	$-353,457	$23,683	-15.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$652,759

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM ARMISTEAD	MEMBER/FINANCE	1.00	Officer Director	$0	$0	$0
ROBERT BUFORD	MEMBER	1.00	Director	$0	$0	$0
JERE FABICK	VICE CHAIRMAN/SECRETARY	1.00	Officer Director	$0	$0	$0
PAUL FISHER	MEMBER	1.00	Director	$0	$0	$0
STEVE MILLOY	MEMBER	1.00	Director	$0	$0	$0
JOSEPH MORRIS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
NOAH ROBINSON	MEMBER	1.00	Director	$0	$0	$0
JOE ARMENDARIZ	MEMBER	1.00	Director	$0	$0	$0
BRIAN SINGER	MEMBER	1.00	Director	$0	$0	$0
JAMES TAYLOR	PRESIDENT	40.00	Officer	$333,590	$0	$333,590
JAMES LAKELY	VICE PRESIDENT	40.00	Officer	$210,861	$0	$210,861
SAMUEL KARNICK	DIRECTOR OF PUBLICATIONS	40.00	Officer	$108,308	$0	$108,308

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	$3,350,282	$3,703,739	$1,074,871	$-353,457
2023	$4,084,944	$4,061,261	$1,383,858	$23,683
2022	$3,852,132	$4,309,935	$1,389,619	$-457,803
2021	$4,106,509	$4,159,416	$1,778,407	$-52,907
2020	$3,779,901	$3,593,087	$1,769,776	$186,814