THE REFORM ALLIANCE

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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

2015

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

THE REFORM ALLIANCE, founded in 2015, is a community nonprofit in the Education sector that reported $4.4M in total revenue in fiscal year 2023. Revenue surged 41% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.5M, a strong 35% operating margin.

Mission

OVERSEE THE IMPLEMENTATION AND REFORM OF EDUCATION IN THE STATE OF ARKANSAS.

Program Service Accomplishments

Program 1

Expenses: $1,913,773 Revenue: $1,545,448

STATE SUCCEED SCHOLARSHIP PROGRAM FOR THE ARKANSAS DEPARTMENT OF EDUCATION.

Program 2

Expenses: $673,914 Revenue: $1,367,452

Philanthropic Investment in Arkansas Kids

Program 3

Expenses: $197,919 Revenue: $64,127

NSCW AND OTHER REVENUES

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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 $1,463,900

Program Service Revenue $2,977,027

Investment Income $0

Other Revenue $0

TOTAL REVENUE $4,440,927

Expense Breakdown

Grants Paid $1,692,538

Salaries & Benefits $160,416

Fundraising Expenses $0

Program Expenses $2,785,606

Other Expenses $1,054,591

TOTAL EXPENSES $2,907,545

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,440,927	$3,156,747	+0.4%
Expenses	$2,907,545	$4,399,312	-0.3%
Net Income	$1,533,382	$-1,242,565	-2.2%

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

N/A

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN EDDY	MEMBER	10.00	Officer Director	$0	$0	$0
STACEY UTLEY	MEMBER	10.00	Officer Director	$0	$0	$0
LAURIE LEE	CHAIRMAN OF THE BOARD	10.00	Officer Director	$0	$0	$0
JEFF DANGEAU	DIRECTOR	10.00	Officer Director	$0	$0	$0
CYNTHIA HOWSLEY	EMPLOYEE	40.00	Key Emp	$0	$0	$0
KASHANA MILTON	EMPLOYEE	40.00	Key Emp	$0	$0	$0
SPENCER WATSON	EMPLOYEE	40.00	Key Emp	$0	$0	$0
MARGARET HENLEY	OFFICE MANAGER	20.00	Highest	$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	No data	No data	No data	No data
2023	$4,440,927	$2,907,545	$2,476,003	$1,533,382
2022	$3,156,747	$4,399,312	$996,978	$-1,242,565
2021	$4,048,566	$4,270,860	$2,298,695	$-222,294
2020	$4,704,841	$4,024,841	$2,510,531	$680,000
2019	$3,313,796	$3,077,128	$1,815,606	$236,668
2018	$2,036,959	$1,921,293	$1,635,688	$115,666