THE HEARTLAND INSTITUTE (EIN 363309812) - 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

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

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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 $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

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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

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

THE HEARTLAND INSTITUTE