HEADWATERS FOUNDATION FOR JUSTICE

EIN: 363359386 501(c)(3)

MINNEAPOLIS, MN

Total Revenue
$5,282,846
Total Expenses
$7,851,691
Total Assets
$16,898,668
Net Assets
$14,066,956
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
MN
Principal Officer
BILAL ALKATOUT
Phone
6128790602
Tax Period
2024-07-01 to 2025-06-30

HEADWATERS FOUNDATION FOR JUSTICE, founded in 1984, is a community nonprofit that reported $5.3M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $7.9M exceeded revenue, resulting in a 49% operating deficit.

Mission

HEADWATERS FOUNDATION'S MISSION IS TO AMPLIFY THE POWER OF COMMUNITY TO ADVANCE EQUITY AND JUSTICE.THROUGH GRANTMAKING AND CAPACITY BUILDING SUPPORT TO GRASSROOTS ORGANIZATIONS, OUR GOAL IS TO FOSTER JUST AND SUSTAINABLE COMMUNITIES THAT EMBRACE SOCIAL, RACIAL, ECONOMIC AND ENVIRONMENTAL EQUITY. TO ACHIEVE THIS GOAL, ALL OF HEADWATERS' PROGRAMS ARE DESIGNED TO ADVANCE TWO OBJECTIVES: CHANGING SYSTEMS OF POWER, AND INCREASING THE POWER OF DISENFRANCHISED COMMUNITIES. OUR COMMUNITY-LED GRANTMAKING PROCESS IS THE TOUCHSTONE OF OUR FOUNDATION.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,905,838
Program Service Revenue $0
Investment Income $365,788
Other Revenue $11,220
TOTAL REVENUE $5,282,846

Expense Breakdown

Grants Paid $3,813,300
Salaries & Benefits $2,731,364
Fundraising Expenses $1,010,868
Program Expenses $5,589,194
Other Expenses $1,307,027
TOTAL EXPENSES $7,851,691

Year-over-Year Comparison

2024 2023 Change
Revenue $5,282,846 $4,481,203 +0.2%
Expenses $7,851,691 $6,868,883 +0.1%
Net Income $-2,568,845 $-2,387,680 +0.1%
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

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Governance

Voting Members
9
Independent Members
9
Employees
18
Volunteers
45

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
5
$335,416
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BILAL ALKATOUT CO-EXECUTIVE DIRECTOR 32.00
Officer
$176,596 $24,248 $200,844
EMILY SCOTT DIRECTOR OF OPERATIONS & F 32.00
Officer
$118,976 $15,596 $134,572
MARY DELORIE DIRECTOR OF INDIVIDUAL GIV 32.00
Highest
$125,507 $19,831 $145,338
EWAN SCOTTO DIRECTOR OF COMMUNICATIONS 32.00
Highest
$117,650 $14,249 $131,899
ANITRA COTTLEDGE DIRECTOR OF PROGRAMS 32.00
Highest
$106,053 $12,542 $118,595
FRAN HUTCHINS CO-CHAIR 1.00
Director
$0 $0 $0
ERIC HOWARD VICE CHAIR 1.00
Officer Director
$0 $0 $0
ALEXANDER ROBINSON TREASURER 1.00
Officer Director
$0 $0 $0
HABON ABDULLE SECRETARY 1.00
Officer Director
$0 $0 $0
MIA DIVECHA BOARD MEMBER 1.00
Director
$0 $0 $0
JAMES MILLER BOARD MEMBER 1.00
Director
$0 $0 $0
NIKKI PIERATOS BOARD MEMBER 1.00
Director
$0 $0 $0
TEHOUT SELAMEAB BOARD MEMBER 1.00
Director
$0 $0 $0
AIMEE VUE 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
2025 $5,282,846 $7,851,691 $16,898,668 $-2,568,845
2024 $4,481,203 $6,868,883 $18,362,957 $-2,387,680
2023 $3,561,458 $4,763,422 $19,516,733 $-1,201,964
2022 $15,004,954 $6,350,006 $27,986,426 $8,654,948
2021 $13,864,932 $5,774,182 $20,127,206 $8,090,750
2020 $8,568,167 $5,226,778 $10,629,920 $3,341,389
2019 $3,212,274 $3,176,946 $7,821,371 $35,328
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