Carle Development Foundation (EIN 371159978) - 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

1982

Legal Domicile

Phone

2173833311

Tax Period

2024-01-01 to 2024-12-31

Carle Development Foundation, founded in 1982, is a mid-sized nonprofit in the Health Care sector that reported $17.4M in total revenue in fiscal year 2024. Revenue surged 38% from the prior year, signaling strong growth momentum. Net assets of $95.1M represent 66 months of operating reserves.

Mission

TO RAISE FUNDS TO SUPPORT THE CARLE FOUNDATION MISSION.

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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 $13,257,256

Program Service Revenue $0

Investment Income $4,243,983

Other Revenue $-104,874

TOTAL REVENUE $17,396,365

Expense Breakdown

Grants Paid $14,761,213

Salaries & Benefits $2,520,450

Fundraising Expenses $2,840,869

Program Expenses $14,808,391

Other Expenses $522,640

TOTAL EXPENSES $17,804,303

Year-over-Year Comparison

	2024	2023	Change
Revenue	$17,396,365	$12,643,536	+0.4%
Expenses	$17,804,303	$9,529,648	+0.9%
Net Income	$-407,938	$3,113,888	-1.1%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

368

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

$5,608,490

Total Directors

$2,787,793

Key Employees

$2,221,704

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
James C Leonard MD	Ex Officio, Voting // President & CEO	1.5	Officer Director	$0	$50,256	$2,348,482
Mary McGrath	Chair	1.0	Officer Director	$0	$0	$0
Phillip Blankenburg	BOARD MEMBER - East Region, Vice Chair, Secretary & Treasurer	1.0	Officer Director	$0	$0	$0
Adam Hawks	BOARD MEMBER - West Region	0.5	Director	$0	$0	$0
Brandon Moss	BOARD MEMBER - West Region	2.0	Director	$0	$0	$0
Courtney Zell Armstrong	BOARD MEMBER - Central Region	1.0	Director	$0	$0	$0
Julia Eichhorst	BOARD MEMBER - South Region	1.0	Director	$0	$0	$0
Lizbeth Katsinas	BOARD MEMBER // VP, Center for Philanthropy	39.0	Director	$0	$60,862	$439,311
Marc Largent	BOARD MEMBER - Central Region	1.0	Director	$0	$0	$0
Rick Stephens	BOARD MEMBER	0.5	Director	$0	$0	$0
Russ Leigh	BOARD MEMBER - East Region	1.0	Director	$0	$0	$0
Dennis Hesch	Officer - EVP, Chief Finance & Strategy Officer	1.0	Officer	$0	$332,566	$1,507,676
Matthew Kolb JD MHA	Officer - President, Carle Health Regions // EVP, COO	1.0	Officer	$0	$333,703	$1,752,332
Ken Dicken MBA	VP, Finance - West Region	1.0	Key Emp	$0	$72,807	$447,926
Lauren Schmid MBA	EVP, Chief Human Resources Officer	1.0	Key Emp	$0	$105,168	$983,756
Nicholas Crompton	VP, Construction & Facility Services	1.0	Key Emp	$0	$84,556	$387,765
Roger Laramee	Executive Director, Development East Region	40.0	Key Emp	$160,995	$10,092	$171,087
Shelleigh Birlingmair	VP, BroMenn & Eureka Development	40.0	Key Emp	$184,688	$46,482	$231,170
Andrew Bond	Director, BroMenn Development	40.0	Highest	$129,527	$39,327	$168,854
Angela Hatfield	Executive Director, Development & Campaigns	40.0	Highest	$136,445	$31,034	$167,479
Nicole Hayse	Executive Director, Development	40.0	Highest	$111,317	$24,975	$136,292
Ross Richards	Director, Philanthropy Operations	40.0	Highest	$149,773	$40,827	$190,600
Timothy Stedman	Director, Carle Health - West Region Development	40.0	Highest	$151,283	$9,836	$161,119

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	$17,396,365	$17,804,303	$113,837,041	$-407,938
2023	$12,643,536	$9,529,648	$114,616,141	$3,113,888
2022	$7,867,151	$5,974,030	$69,715,231	$1,893,121
2021	$11,227,121	$5,320,923	$70,454,339	$5,906,198
2020	$6,536,866	$3,220,186	$64,048,925	$3,316,680
2019	$5,330,548	$3,617,745	$31,397,055	$1,712,803
2018	$4,597,216	$4,290,890	$27,982,287	$306,326
2016	$7,617,980	$4,775,514	$25,134,133	$2,842,466

Carle Development Foundation