HIGHER THINGS 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

2000

Legal Domicile

Principal Officer

ERICA JACOBY SORENSEN

Phone

8884826630

Tax Period

2022-05-01 to 2023-04-30

HIGHER THINGS INC, founded in 2000, is a community nonprofit in the Religion sector that reported $1.4M in total revenue in fiscal year 2022. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

THE MISSION OF HIGHER THINGS IS TO MAKE THE GIFTS OF CHRIST JESUS KNOWN TO YOUTH AND YOUNG ADULTS

Program Service Accomplishments

Program 1

Expenses: $727,124 Revenue: $892,139

WE HELD TWO CONFERENCES FOR YOUTH SERVING OVER 1,700 YOUTH, PASTORS, AND ADULT LEADERS. THE CONFERENCES PROMOTE A CHRISTIAN IDENTITY FOR THE YOUTH AND PROVIDE A PLACE WHERE THEY CAN MORE DEEPLY...

WE HELD TWO CONFERENCES FOR YOUTH SERVING OVER 1,700 YOUTH, PASTORS, AND ADULT LEADERS. THE CONFERENCES PROMOTE A CHRISTIAN IDENTITY FOR THE YOUTH AND PROVIDE A PLACE WHERE THEY CAN MORE DEEPLY UNDERSTAND THEIR CHRISTIAN FAITH. CONFERENCES INCLUDE DAILY WORSHIP, CATECHESIS CLASSES, BREAKOUT SESSIONS AND ENTERTAINMENT. SMALLER RETREATS ARE HELD THROUGHOUT THE YEAR WITH SIMILAR OBJECTIVES BUT ON A MUCH SMALLER, REGIONAL SCALE.

Program 2

Expenses: $224,820 Revenue: $11,958

OUR CONTENT AREA PRODUCES VIDEO SHORTS, DEVOTIONAL BOOKLETS, PODCASTS, CURRICULUM INCLUDING VACATION BIBLE SCHOOL PACKAGES, BIBLE STUDIES AND HOSTS VIRTUAL EVENTS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $453,203

Program Service Revenue $892,139

Investment Income $2,689

Other Revenue $11,958

TOTAL REVENUE $1,359,989

Expense Breakdown

Grants Paid $0

Salaries & Benefits $524,031

Fundraising Expenses $232,599

Program Expenses $951,944

Other Expenses $806,240

TOTAL EXPENSES $1,330,271

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,359,989	$1,219,223	+0.1%
Expenses	$1,330,271	$1,256,723	+0.1%
Net Income	$29,718	$-37,500	-1.8%

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

500

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

$98,561

Total Directors

$1,250

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY WARE	DIRECTOR	2.00	Director	$450	$0	$450
DUANE BAMSCH	PRESIDENT	10.00	Officer Director	$800	$0	$800
REBEKAH CLAUSEN	DIRECTOR	2.00	Director	$0	$0	$0
ELEANOR CORROW	DIRECTOR	2.00	Director	$0	$0	$0
ANTHONY PELLIGRINI	DIRECTOR	2.00	Director	$0	$0	$0
JOHN PLESS	DIRECTOR	2.00	Director	$0	$0	$0
RANDY STURZENBECHER	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
JOEL FRITSCHE	SECRETARY	2.00	Officer Director	$0	$0	$0
KURT WINRICH	TREASURER	2.00	Officer Director	$0	$0	$0
ERICA JACOBY SORENSEN	EXECUTIVE DIRECTOR	40.00	Officer	$80,464	$17,297	$97,761

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$1,252,652	$1,079,535	$633,155	$173,117
2023	$1,235,372	$1,079,535	$633,155	$155,837
2023	$1,359,989	$1,330,271	$995,727	$29,718
2022	$1,219,223	$1,256,723	$954,152	$-37,500
2021	$743,621	$644,681	$798,357	$98,940