HEART AND MIND FOUNDATION

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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

2000

Legal Domicile

Principal Officer

ELIZABETH TORRES

Phone

7732784212

Tax Period

2024-07-01 to 2025-06-30

HEART AND MIND FOUNDATION, founded in 2000, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $2.0M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. The organization ran a surplus of $430K, a strong 22% operating margin.

Mission

HEART AND MIND FOUNDATION IS A CHARITABLE ORGANIZATION ESTABLISHED TO RECEIVE AND MANAGE GIFTS AND BEQUESTS IN SUPPORT OF HOLY TRINITY HIGH SCHOOL IN CHICAGO. IT IS INTENDED TO SERVE THE EDUCATION OF CHILDREN NOW AND BEYOND OUR LIFETIMES.

Program Service Accomplishments

Program 1

Expenses: $1,463,932 Revenue: $0

DISBURSEMENTS TO HOLY TRINITY HIGH SCHOOL (HTHS) WERE USED FOR PLANT IMPROVEMENTS, FOR SUPPORT OF HTHS DEVELOPMENT EFFORT, AND FOR NUMEROUS SCHOLARSHIPS.

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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 $1,427,871

Program Service Revenue $0

Investment Income $532,123

Other Revenue $0

TOTAL REVENUE $1,959,994

Expense Breakdown

Grants Paid $1,463,932

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,463,932

Other Expenses $66,288

TOTAL EXPENSES $1,530,220

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,959,994	$1,734,886	+0.1%
Expenses	$1,530,220	$3,348,996	-0.5%
Net Income	$429,774	$-1,614,110	-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

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 VAN DYKE CSC	INTERIM E.D. (THRU MAR 2025)	1.00	Officer Director	$0	$0	$0
ELIZABETH TORRES	EXECUTIVE DIRECTOR (FROM MAR 2025)	1.00	Officer Director	$0	$0	$0
JOHN RAITT	CHAIR	1.00	Officer Director	$0	$0	$0
PHIL DOETSCH	DIRECTOR	1.00	Director	$0	$0	$0
KATIE SULLIVAN	DIRECTOR (THRU JUNE 2025)	1.00	Director	$0	$0	$0
BRIANNE WEYMOUTH	DIRECTOR	1.00	Director	$0	$0	$0
KATRINA KING	SECRETARY/TREASURER (THRU JUNE 2025)	1.00	Officer	$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	$1,959,994	$1,530,220	$5,955,799	$429,774
2024	No data	No data	No data	No data
2023	$742,369	$1,330,140	$6,774,410	$-587,771
2022	$1,532,957	$1,531,687	$6,776,648	$1,270
2021	$2,141,172	$572,797	$8,290,957	$1,568,375
2020	$554,931	$754,333	$4,952,593	$-199,402
2019	$946,693	$1,209,445	$5,449,806	$-262,752
2018	$879,042	$1,218,021	$5,866,098	$-338,979