HERITAGE U LEVERAGE LENDER

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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

Principal Officer

ANDREW SUND

Phone

5098658663

Tax Period

2021-07-01 to 2022-06-30

HERITAGE U LEVERAGE LENDER, founded in 2015, is a micro nonprofit that reported $48K in total revenue in fiscal year 2021. Net assets of $6.6M represent 1645 months of operating reserves.

Mission

TO SUPPORT AND BENEFIT, FINANCIALLY AND/OR OPERATIONALLY, HERITAGE UNIVERSITY.

Program Service Accomplishments

Program 1

Expenses: $49,589

THE PURPOSE OF THE ORGANIZATION IS TO SERVE AS A SUPPORTING ORGANIZATION FOR HERITAGE UNIVERSITY. THE ORGANIZATION IS PARTICIPATING IN A NEW MARKETS TAX CREDIT TRANSACTION BY PROVIDING A LEVERAGED...

THE PURPOSE OF THE ORGANIZATION IS TO SERVE AS A SUPPORTING ORGANIZATION FOR HERITAGE UNIVERSITY. THE ORGANIZATION IS PARTICIPATING IN A NEW MARKETS TAX CREDIT TRANSACTION BY PROVIDING A LEVERAGED LOAN TO AN INVESTMENT FUND ENTITY, WHICH WILL AGGREGATE OTHER FUNDS TO MAKE A "QUALIFIED EQUITY INVESTMENT" TO A "QUALIFIED COMMUNITY DEVELOPMENT ENTITY" (EACH AS DEFINED IN I.R.C. 45D). THE FUNDS WILL ULTIMATELY BE MADE TO AN AFFILIATED SUPPORTING ORGANIZATION OF HERITAGE TO FACILITATE HERITAGE'S CAMPUS EXPANSION PLAN, WHICH INCLUDES THE DEVELOPMENT OF BUILDINGS TO BE USED FOR CLASSROOMS, COMPUTER LABS, AN ART STUDIO, DINING FACILITIES, AND TO HOUSE INFORMATION TECHNOLOGY. ACCORDINGLY, THE ORGANIZATION PROVIDES SUPPORTING SERVICES TO HERITAGE IN FURTHERANCE OF ITS MISSION.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $48,059

Other Revenue $0

TOTAL REVENUE $48,059

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $49,589

Other Expenses $49,589

TOTAL EXPENSES $49,589

Year-over-Year Comparison

	2021	2020	Change
Revenue	$48,059	$47,997	+0.0%
Expenses	$49,589	$48,065	+0.0%
Net Income	$-1,530	$-68	+21.5%

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

$785,233

Total Directors

$482,678

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREW SUND	PRESIDENT, HERITAGE UNIVERSITY	1.00	Officer Director	$0	$30,924	$325,449
DAVID WISE	VP ADVANCEMENT, HERITAGE UNIVERSITY	1.00	Officer Director	$0	$20,097	$157,229
KAZUHIRO SONODA	PROVOST	1.00	Officer	$0	$10,190	$151,940
DR MELISSA HILL	INTERIM PROVOST	1.00	Officer	$0	$20,075	$150,615
THOMAS RICHTER	CFO/VP OF ADMINISTRATION	1.00	Officer Director	$0	$0	$0
PATRICK OSHIE	BOARD MEMBER	1.00	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
2022	$48,059	$49,589	$6,587,500	$-1,530
2022	$34,664	$34,664	No data	No data
2021	$47,997	$48,065	$6,601,029	$-68
2020	$47,996	$48,059	$6,589,098	$-63
2019	$47,997	$48,048	$6,601,160	$-51