Cardinal Institute for West Virgin… - 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

2014

Legal Domicile

Principal Officer

Garrett Ballengee

Phone

3045617634

Tax Period

2024-01-01 to 2024-12-31

Cardinal Institute for West Virginia Policy Inc, founded in 2014, is a community nonprofit in the Social Science sector that reported $1.1M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion.

Mission

Founded in 2014, the Cardinal Institute for West Virginia Policy, Inc.is a 501c3 non-profit dedicated to researching, developing, and communicating effective free-market public policies for West Virginia.

Program Service Accomplishments

Program 1

Expenses: $101,475

Dignity Project to better enable individuals to enter the workforce

Program 2

Expenses: $394,498

Education Reform to ensure every child has access to an appropriateeducation regardless of family circumstances

Program 3

Expenses: $163,662

Policy Analysis to analyze public policies put forth in West Virginiaand evaluate their impact on the state

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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 $1,030,910

Program Service Revenue $0

Investment Income $21,008

Other Revenue $2,434

TOTAL REVENUE $1,054,352

Expense Breakdown

Grants Paid $2,000

Salaries & Benefits $504,208

Fundraising Expenses $205,682

Program Expenses $661,279

Other Expenses $522,945

TOTAL EXPENSES $1,029,153

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,054,352	$923,030	+0.1%
Expenses	$1,029,153	$832,327	+0.2%
Net Income	$25,199	$90,703	-0.7%

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

$120,010

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Garrett Ballengee	President / CEO	040.00	Officer	$120,010	$0	$120,010
Kelvin Upson	Treasurer	001.00	Officer Director	$0	$0	$0
Melanie Hildreth	Secretary	001.00	Officer Director	$0	$0	$0
Karen Bailey-Chapman	Chair	001.00	Officer Director	$0	$0	$0
Jeff Kimble	Vice-Chair	001.00	Officer Director	$0	$0	$0
William P Cole III	Director	001.00	Director	$0	$0	$0
Ed Gaunch	Director	001.00	Director	$0	$0	$0
Jim Shaffer	Director	001.00	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
2024	$1,054,352	$1,029,153	$903,122	$25,199
2023	$923,030	$832,327	$871,065	$90,703
2022	$971,241	$755,565	$782,322	$215,676
2021	$786,400	$474,981	$541,588	$311,419
2020	$325,190	$320,692	$230,169	$4,498

Cardinal Institute for West Virginia Policy Inc