FORTYX80 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

2012

Legal Domicile

Principal Officer

AUDREY RUSSO

Phone

4126872700

Tax Period

2024-09-01 to 2025-08-31

FORTYX80 INC, founded in 2012, is a small nonprofit in the Community Improvement sector that reported $571K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $703K exceeded revenue, resulting in a 23% operating deficit.

Mission

TO CATAPULT THE GROWTH OF ENTREPRENEURS ACROSS SOUTHWESTERN PENNSYLVANIA (SWPA). THIS IS ACCOMPLISHED BY STRENGTHENING THE REGION'S ENTREPRENEURIAL FRAMEWORK THROUGH INCREASED ACCESS TO CAPITAL, EDUCATIONAL PROGRAMMING, AND PROMOTING SWPA GLOBALLY AS A PREMIER LOCATION FOR START-UPS, TALENT, AND TECHNOLOGY.

Program Service Accomplishments

Program 1

Expenses: $375,009

AN IT APPRENTICESHIP PROGRAM THAT IS DESIGNED TO ELIMINATE THE BARRIERS COMMONLY FACED BY TECH INTERESTED INDIVIDUALS FROM UNDERREPRESENTED GROUPS AS WELL AS GIVE EMPLOYERS ACCESS TO A WIDER, MORE...

AN IT APPRENTICESHIP PROGRAM THAT IS DESIGNED TO ELIMINATE THE BARRIERS COMMONLY FACED BY TECH INTERESTED INDIVIDUALS FROM UNDERREPRESENTED GROUPS AS WELL AS GIVE EMPLOYERS ACCESS TO A WIDER, MORE DIVERSE TALENT BASE.

Program 2

Expenses: $59,628

SUPPORT EDUCATION AND TRAINING AT SECONDARY, VOCATIONAL AND HIGHER EDUCATION INSTITUTIONS, AND BY PROVIDING TECHNICAL ASSISTANCE AND EDUCATION SERVICES TO POTENTIAL AND EARLY STAGE ENTREPRENEURS.

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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 $586,028

Program Service Revenue $0

Investment Income $0

Other Revenue $-14,899

TOTAL REVENUE $571,129

Expense Breakdown

Grants Paid $0

Salaries & Benefits $468,409

Fundraising Expenses $91,096

Program Expenses $434,637

Other Expenses $234,846

TOTAL EXPENSES $703,255

Year-over-Year Comparison

	2024	2023	Change
Revenue	$571,129	$522,054	+0.1%
Expenses	$703,255	$631,110	+0.1%
Net Income	$-132,126	$-109,056	+0.2%

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

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

$773,524

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN FRIEL	BOARD CHAIRMAN	1.00	Officer Director	$0	$0	$0
MARK KURTZROCK	BOARD MEMBER	1.00	Director	$0	$0	$0
MISSY PAXTON	BOARD MEMBER	1.00	Director	$0	$0	$0
FRANCOIS ESTELLON	BOARD MEMBER	1.00	Director	$0	$0	$0
REBECCA DUPONT	BOARD MEMBER	0.00	Director	$0	$0	$0
AUDREY RUSSO	PRESIDENT & CEO	14.00	Officer	$0	$27,928	$398,432
ALBERT GUSKY	DIRECTOR OF FINANCE	10.00	Officer	$0	$23,848	$214,987
MARIA FATTORE	DIR. OF GROWTH CAPITAL UNT	30.00	Officer	$151,766	$8,339	$160,105

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	$571,129	$703,255	$222,044	$-132,126
2024	$522,054	$631,110	$528,545	$-109,056
2023	$774,450	$586,817	$487,498	$187,633
2022	$557,383	$533,854	$442,878	$23,529
2021	$217,397	$193,026	$287,620	$24,371
2020	$121,984	$172,887	$196,040	$-50,903
2019	$56,525	$203,777	$202,037	$-147,252
2018	$455,535	$172,650	$387,235	$282,885