HERITAGE WORKS (EIN 383581720) - 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

2000

Legal Domicile

Principal Officer

RHONDA GREENE

Phone

3134382800

Tax Period

2024-01-01 to 2024-12-31

HERITAGE WORKS, founded in 2000, is a small nonprofit in the Arts, Culture & Humanities sector that reported $256K in total revenue in fiscal year 2024. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $667K exceeded revenue, resulting in a 161% operating deficit.

Mission

The mission is to encourage personal and artistic excellence by promoting cultural understanding, skill and character development, physical fitness, and cultural fluency.

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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 $181,245

Program Service Revenue $24,294

Investment Income $0

Other Revenue $50,191

TOTAL REVENUE $255,730

Expense Breakdown

Grants Paid $0

Salaries & Benefits $173,527

Fundraising Expenses $41,813

Program Expenses $550,276

Other Expenses $493,747

TOTAL EXPENSES $667,274

Year-over-Year Comparison

	2024	2023	Change
Revenue	$255,730	$468,644	-0.5%
Expenses	$667,274	$581,067	+0.1%
Net Income	$-411,544	$-112,423	+2.7%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rhonda Greene	Executive Director	040.00	Officer Director	$0	$0	$0
Shuna Hayward	Chairperson	002.00	Officer Director	$0	$0	$0
Jacob Walker	Treasurer	002.00	Officer Director	$0	$0	$0
Deirdre Henry	Secretary	002.00	Officer Director	$0	$0	$0
Ayo Thomas	Vice Chair	002.00	Officer 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
2024	$255,730	$667,274	$217,123	$-411,544
2023	$468,644	$581,067	$643,299	$-112,423
2021	$693,007	$399,469	$563,454	$293,538
2020	$279,434	$273,184	$240,956	$6,250
2019	$331,284	$451,785	$238,233	$-120,501
2018	$333,454	$504,345	$367,746	$-170,891

HERITAGE WORKS