NORFOLK PUBLIC SCHOOLS FOUNDATION … - Form 990 Financial Data

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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

1990

Legal Domicile

Principal Officer

JASON BUSCH

Tax Period

2024-01-01 to 2024-12-31

NORFOLK PUBLIC SCHOOLS FOUNDATION INC, founded in 1990, is a small nonprofit in the Education sector that reported $529K in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. The organization ran a surplus of $182K, a strong 34% operating margin.

Mission

THE FURTHERANCE OF EDUCATION

Program Service Accomplishments

Program 1

Expenses: $69,800

PROVIDED INDIVIDUALS WITHIN THE NORFOLK PUBLIC SCHOOL DISTRICT SCHOLARSHIPS FOR COLLEGE

Program 2

Expenses: $193,100

GRANTS WERE AWARDED TO VARIOUS SCHOOLS WITHIN THE NORFOLK PUBLIC SCHOOL DISTRICT FOR THE DEVELOPMENT OF EDUCATIONAL PROGRAMS AND STAFF PROFESSIONAL DEVELOPMENT.

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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 $358,897

Program Service Revenue $0

Investment Income $169,978

Other Revenue $0

TOTAL REVENUE $528,875

Expense Breakdown

Grants Paid $262,900

Salaries & Benefits $54,488

Fundraising Expenses $500

Program Expenses $262,900

Other Expenses $29,916

TOTAL EXPENSES $347,304

Year-over-Year Comparison

	2024	2023	Change
Revenue	$528,875	$565,623	-0.1%
Expenses	$347,304	$333,306	+0.0%
Net Income	$181,571	$232,317	-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

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

$50,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AUSTIN TRUEX	EXECUTIVE DI	40.00	Director	$50,500	$0	$50,500
TRACY BUETTNER	DIRECTOR	N/A	Director	$0	$0	$0
DOUG BURKINK	DIRECTOR	N/A	Director	$0	$0	$0
JASON BUSCH	PRESIDENT	N/A	Officer Director	$0	$0	$0
BRENDA CARHART	TREASURER	N/A	Officer Director	$0	$0	$0
JAKE CLAUSSEN	DIRECTOR	N/A	Director	$0	$0	$0
ANN FEIDLER-KLEIN	DIRECTOR	N/A	Director	$0	$0	$0
LEONOR FUHRER	DIRECTOR	N/A	Director	$0	$0	$0
LISA JONES	DIRECTOR	N/A	Director	$0	$0	$0
DAVE MERRITT	DIRECTOR	N/A	Director	$0	$0	$0
KARL MORGAN	DIRECTOR	N/A	Director	$0	$0	$0
KATHY NARANJO	DIRECTOR	N/A	Director	$0	$0	$0
APRIL PEARSON	SECRETARY	N/A	Officer Director	$0	$0	$0
DON POLODNA	DIRECTOR	N/A	Director	$0	$0	$0
BETH SHASHIKANT	DIRECTOR	N/A	Director	$0	$0	$0
LINDSAY SCHELLPEPER SIMPSON	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
BOBBI THEISEN	DIRECTOR	N/A	Director	$0	$0	$0
JAMI JO THOMPSON	EX-OFFICIO	N/A	Director	$0	$0	$0
LEANN WIDHALM	DIRECTOR	N/A	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
2024	$528,875	$347,304	$3,827,307	$181,571
2023	$565,623	$333,306	$3,472,457	$232,317
2022	$353,011	$295,224	$2,945,375	$57,787
2021	$598,481	$283,380	$3,223,635	$315,101
2020	$545,716	$424,769	$2,705,523	$120,947
2019	$522,596	$375,531	$2,459,714	$147,065
2018	$763,836	$789,123	$1,993,750	$-25,287

NORFOLK PUBLIC SCHOOLS FOUNDATION INC