Innovative Industries

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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

1969

Legal Domicile

Tax Period

2024-07-01 to 2025-06-30

Innovative Industries, founded in 1969, is a community nonprofit in the Employment sector that reported $1.4M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $1.6M exceeded revenue, resulting in a 11% operating deficit.

Mission

Provide employment for developmentally disabled individuals.

Program Service Accomplishments

Program 1

Expenses: $1,026,685 Revenue: $1,021,281

Provide employment for developmentally disabled individuals.

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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 $399,297

Program Service Revenue $1,014,139

Investment Income $5,918

Other Revenue $1,224

TOTAL REVENUE $1,420,578

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,078,235

Fundraising Expenses $0

Program Expenses $1,026,685

Other Expenses $504,625

TOTAL EXPENSES $1,582,860

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,420,578	$1,531,840	-0.1%
Expenses	$1,582,860	$1,654,795	0.0%
Net Income	$-162,282	$-122,955	+0.3%

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

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
Tom Furrh	Executive Dir.	40.00	Director	$0	$0	$0
Gage Tiller	Director	2.00	Director	$0	$0	$0
Caleb Powell	Director	2.00	Director	$0	$0	$0
Jeremy Hulette	Director	2.00	Director	$0	$0	$0
Elijah Vinson	Director	2.00	Director	$0	$0	$0
Pamela Lanier	Director	2.00	Director	$0	$0	$0
Charlotte Montague	Secretary	5.00	Officer Director	$0	$0	$0
Alice Chorum	Director	2.00	Director	$0	$0	$0
Maureen Owens	Director	2.00	Director	$0	$0	$0
Stephanie Howard	Director	2.00	Director	$0	$0	$0
Kyle Klinginsmith	Director	2.00	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
2025	$1,420,578	$1,582,860	$1,812,813	$-162,282
2024	$1,531,840	$1,654,795	$2,004,540	$-122,955
2023	$2,308,806	$1,887,432	$2,141,828	$421,374
2022	$1,519,849	$1,528,841	$1,598,373	$-8,992
2021	$1,490,867	$1,470,567	$1,585,879	$20,300
2020	$1,314,100	$1,309,992	$1,765,080	$4,108
2019	$1,374,284	$1,364,178	$1,563,986	$10,106