The Hartford Area Foundation 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

1982

Legal Domicile

Principal Officer

Thomas E Haley

Phone

2623704395

Tax Period

2023-01-01 to 2023-12-31

The Hartford Area Foundation Inc, founded in 1982, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $330K in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $376K exceeded revenue, resulting in a 14% operating deficit.

Mission

Improve and support the quality of life of the Hartford Area through philanthropic, community involvement and grant making contributions.

Program Service Accomplishments

Program 1

Expenses: $3,200

Grant given to the Mill Young Professional Group

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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 (2023)

Revenue Breakdown

Contributions & Grants $278,454

Program Service Revenue $0

Investment Income $51,882

Other Revenue $0

TOTAL REVENUE $330,336

Expense Breakdown

Grants Paid $376,321

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $376,321

Other Expenses $103

TOTAL EXPENSES $376,424

Year-over-Year Comparison

	2023	2022	Change
Revenue	$330,336	$261,332	+0.3%
Expenses	$376,424	$112,545	+2.3%
Net Income	$-46,088	$148,787	-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

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
Mark Lindborg	President	004.00	Officer Director	$0	$0	$0
Kenneth R Braun	Director	001.00	Director	$0	$0	$0
Timothy Michalak	Director	001.00	Director	$0	$0	$0
Ann Ohm	Director	001.00	Director	$0	$0	$0
Wendy Smith	Director	001.00	Director	$0	$0	$0
Scott A Lopas	Secretary	001.00	Officer Director	$0	$0	$0
Thomas E Haley	Treasurer	004.00	Officer Director	$0	$0	$0
Linda Hauser	Vice President	001.00	Officer Director	$0	$0	$0
Don Langenfeld	Director	001.00	Director	$0	$0	$0
Ralph Kuepper	Director	001.00	Director	$0	$0	$0
Mike Mally	Director	001.00	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
2024	No data	No data	No data	No data
2023	$330,336	$376,424	$859,590	$-46,088
2022	$261,332	$112,545	$905,678	$148,787
2021	$123,013	$203,083	$827,393	$-80,070
2020	$101,633	$132,518	$859,225	$-30,885
2019	$298,706	$314,514	$903,617	$-15,808
2018	$387,375	$464,721	$891,755	$-77,346