X12 INCORPORATED

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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

Stephanie A Fetzer

Phone

4255599769

Tax Period

2023-01-01 to 2023-12-31

X12 INCORPORATED, founded in 2012, is a community nonprofit in the Public & Societal Benefit sector that reported $1.8M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $2.6M exceeded revenue, resulting in a 45% operating deficit.

Mission

X12 is an ANSI-accredited, consensus-based, non-profit organization focused on development, implementation, and ongoing use of mature, highly-efficient and effective, technology-neutral, interoperable electronic data interchange standards that support ongoing and emerging needs of businesses and consumers across and within various industries.

Program Service Accomplishments

Program 1

Work Products: (1) Maintaining an expansive standardized vocabulary to define data content and describe data relationships for particular business uses across many industry verticals; (2) Publishing of: (a) metadata repository that supports syntax-specific and syntax-neutral electronic messages, (b) EDI Standards- traditional EDI syntax that powers business-to-business electronic transactions in the U.S. and internationally, (c) technical reports- implementation instructions, explanations, and best-practice guidance that enables consistent, interoperable exchange of electronic messages, (d) external code sets- standardized code sets that support consistent and interoperable information exchange, (e) interpretations- clarifications and other explanations that satisfy questions from X12's clients and members, and (f) implementation tools- applications, APIs, and other technical solutions that assist implementers and users of X12 products; (3) Providing easy and convenient web-based access to X12 products; (4) Providing tools to support member collaborations via web-based tools, web conferences, and teleconferencing; (5) Providing a forum for industry or cross-industry discussion of emerging business needs, technologies, and opportunities.

Program 2

Membership: (1) Recruiting and supporting materially-interested organizations and individuals as X12 members. X12 members then provide cross-industry and cross-functional experts who contribute their expertise, experience, and knowledge to ensure X12 work products are relevant, efficient, and reliable. (2) Enabling face-to-face and virtual collaboration. (3) Supporting ANSI-compliant consensus development, including discussion and voting.

Program 3

Meetings: Enabling face-to-face and virtual collaboration, networking, and corporate activities for X12 members and materially interested non-members.

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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 $0

Program Service Revenue $1,763,823

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,763,823

Expense Breakdown

Grants Paid $0

Salaries & Benefits $416,032

Fundraising Expenses $0

Program Expenses $0

Other Expenses $2,132,364

TOTAL EXPENSES $2,550,242

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,763,823	$1,554,859	+0.1%
Expenses	$2,550,242	$1,747,870	+0.5%
Net Income	$-786,419	$-193,011	+3.1%

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

300

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

$373,772

Total Directors

$369,572

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Cathy Sheppard	CEO, Secretary	40	Officer Director	$369,572	$0	$369,572
Peter Anderson	Treasurer	5	Officer	$4,200	$0	$4,200
Stephanie Fetzer	Chair	1	Officer Director	$0	$0	$0
Gary Beatty	Vice Chair	1	Officer Director	$0	$0	$0
Todd Gould	Director	1	Director	$0	$0	$0
Byron Hall	Director	1	Director	$0	$0	$0
Nicole Tremblett	Director	1	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$1,763,823	$2,550,242	$688,994	$-786,419
2022	$1,554,859	$1,747,870	$735,243	$-193,011
2021	$1,461,658	$1,541,344	$888,227	$-79,686
2020	$1,378,480	$1,260,601	$989,591	$117,879