Heartwood Grove School

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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

2012

Legal Domicile

Principal Officer

Charles B Bice

Phone

8044333561

Tax Period

2024-07-01 to 2025-06-30

Heartwood Grove School, founded in 2012, is a small nonprofit in the Education sector that reported $394K in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $507K exceeded revenue, resulting in a 29% operating deficit.

Mission

Elementary and middle school education using foreign language immersion.

Program Service Accomplishments

Program 1

Expenses: $507,145 Revenue: $393,879

We educate elementary and middle schoolers, providing a full academic curriculum taught primarily in an immersive foreign language learning environment. Elementary schoolers achieve high competence...

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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 $11,607

Program Service Revenue $382,272

Investment Income $0

Other Revenue $0

TOTAL REVENUE $393,879

Expense Breakdown

Grants Paid $0

Salaries & Benefits $397,994

Fundraising Expenses $0

Program Expenses $507,145

Other Expenses $109,151

TOTAL EXPENSES $507,145

Year-over-Year Comparison

	2024	2023	Change
Revenue	$393,879	$345,093	+0.1%
Expenses	$507,145	$406,275	+0.2%
Net Income	$-113,266	$-61,182	+0.9%

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

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	Role	Reportable Comp	Other Comp	Total
LENNOX B TURNBULL	Director	Director	$0	$0	$0
FRANCIS X DE VENOGE	Director	Director	$0	$0	$0
CHARLES B BICE	Treasurer	Officer	$0	$0	$0
LAURA B BICE	Head of School	Key Emp	$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	$393,879	$507,145	$175,353	$-113,266
2024	$345,093	$406,275	$286,861	$-61,182
2023	$350,523	$319,211	$338,467	$31,312
2022	$464,194	$354,426	$285,258	$109,768
2021	$282,855	$320,526	$194,108	$-37,671
2020	$236,727	$266,654	$223,242	$-29,927