Forward Janesville Inc

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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

1991

Legal Domicile

Principal Officer

Shar Hermanson

Phone

6087573160

Tax Period

2024-03-01 to 2025-02-28

Forward Janesville Inc, founded in 1991, is a small nonprofit that reported $813K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $731K left a modest 10% surplus.

Mission

Forward Janesville, Inc. leads private sector economic and community development efforts to ensure the continued health and prosperity of business and industry in Janesville.

Program Service Accomplishments

Program 1

Advance and promote the agricultural, commercial, industrial, transportation, and civic welfare of Janesville, WI and surrounding territory.

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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 $13,290

Program Service Revenue $668,472

Investment Income $2,976

Other Revenue $128,736

TOTAL REVENUE $813,474

Expense Breakdown

Grants Paid $0

Salaries & Benefits $500,973

Fundraising Expenses $0

Other Expenses $230,286

TOTAL EXPENSES $731,259

Year-over-Year Comparison

	2024	2023	Change
Revenue	$813,474	$741,679	+0.1%
Expenses	$731,259	$738,385	0.0%
Net Income	$82,215	$3,294	+24.0%

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

100

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

$162,003

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
George Cullen	Secretary/Treasurer	3.00	Officer Director	$0	$0	$0
Derek Greene	Chair	3.00	Officer Director	$0	$0	$0
Michael Gilbertson	Vice Chair	3.00	Officer Director	$0	$0	$0
David Hiller	Past Chair (until 2/28/25)	3.00	Officer Director	$0	$0	$0
Todd Anderson	Director (until 11/14/24)	1.00	Director	$0	$0	$0
Joel Bailey	Director	1.00	Director	$0	$0	$0
Jon Ballard	Director	1.00	Director	$0	$0	$0
Todd Buehl	Director	1.00	Director	$0	$0	$0
Tim Cullen	Director	1.00	Director	$0	$0	$0
Mary Fanning-Penny	Director (until 3/30/24)	1.00	Director	$0	$0	$0
Dave Holterman	Director	1.00	Director	$0	$0	$0
Bobby Kennedy	Director	1.00	Director	$0	$0	$0
Sean Kennedy	Director	1.00	Director	$0	$0	$0
Mark Lewis	Director (until 11/13/24)	1.00	Director	$0	$0	$0
Kyle Mair	Director	1.00	Director	$0	$0	$0
Cheryl Peterson	Director	1.00	Director	$0	$0	$0
Christine Rebout	Director	1.00	Director	$0	$0	$0
Kari Reents	Director	1.00	Director	$0	$0	$0
Joe Stadelman	Director	1.00	Director	$0	$0	$0
Mary Jo Villa	Director	1.00	Director	$0	$0	$0
Tanner Voss	Director	1.00	Director	$0	$0	$0
Sharlon Hermanson	President & CEO	40.00	Officer	$70,316	$823	$71,139
Corinne Webber	Mgr Finance & Ops	40.00	Officer	$41,804	$4,808	$46,612
Angela Pakes	President & CEO (until 3/1/24)	40.00	Officer	$38,241	$6,011	$44,252

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	$813,474	$731,259	$596,013	$82,215
2024	$741,679	$738,385	$499,348	$3,294
2023	$594,058	$617,111	$480,871	$-23,053
2022	$685,760	$568,690	$552,615	$117,070
2021	$560,542	$563,720	$532,899	$-3,178
2020	$658,030	$639,712	$624,136	$18,318
2019	$625,385	$634,366	$661,725	$-8,981