HEARTSPRING 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

1945

Legal Domicile

Principal Officer

DANIEL K SOLIDAY

Phone

3166348700

Tax Period

2022-07-01 to 2023-06-30

HEARTSPRING INC, founded in 1945, is a mid-sized nonprofit in the Health Care sector that reported $25.3M in total revenue in fiscal year 2022.

Mission

TO BE A LEADER AND INNOVATOR IN PROVIDING CLINICALLY SUPPORTED SERVICES THROUGH EDUCATION AND THERAPIES FOR CHILDREN WITH SPECIAL NEEDS TO EMPOWER THEM TO GROW AND LEARN ON A PATH TO A MORE INDEPENDENT LIFE.

Program Service Accomplishments

Program 1

Expenses: $20,403,814 Revenue: $22,313,549

THE HEARTSPRING SCHOOL SERVES CHILDREN IMPACTED BY COMPLEX INTELLECTUAL AND PHYSICAL CHALLENGES, SUCH AS AUTISM SPECTRUM DISORDER, DEVELOPMENTAL TRAUMA, AND CO-OCCURRING MEDICAL DIAGNOSES OFFERINGS INCLUDE A DAY ONLY AND RESIDENTIAL OPTION SERVING CHILDREN FROM SCHOOL DISTRICTS THROUGHOUT THE UNITED STATES. HEARTSPRING INC STUDENTS OFTEN LIVE WITH CHALLENGING AND/OR PAIN BASED BEHAVIORS THAT INTERFERE WITH THEIR ACADEMIC PROGRESS AT SCHOOL, HOME, AND IN THE COMMUNITY. SEE SCHEDULE O FOR CONTINUATION.

Program 2

Expenses: $3,620,659 Revenue: $1,831,089

HEARTSPRING'S OUTPATIENT SERVICES OFFERS PEDIATRIC THERAPIES IN THE FOLLOWING AREAS: OCCUPATIONAL, PHYSICAL, SPEECH, AUDIOLOGY, APPLIED BEHAVIOR ANALYSIS (ABA), AND PSYCHOLOGICAL SERVICES TO CHILDREN BIRTH TO 21. OUR OUTPATIENT FACILITY IS DESIGNED TO ALLOW FAMILIES AND PROFESSIONALS TO WORK COLLABORATIVELY TO ENSURE PROGRESS ACROSS MULTIPLE DISCIPLINES. THERAPISTS USE HANDS-ON THERAPEUTIC INTERVENTIONS IN AN INDIVIDUALIZED SETTING WHILE TEACHING FAMILIES HOW TO IMPLEMENT STRATEGIES AT HOME AND IN THE COMMUNITY. SEE SCHEDULE O FOR CONTINUATION.

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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 (2022)

Revenue Breakdown

Contributions & Grants $931,661

Program Service Revenue $24,000,096

Investment Income $288,232

Other Revenue $58,526

TOTAL REVENUE $25,278,515

Expense Breakdown

Grants Paid $43,076

Salaries & Benefits $22,116,749

Fundraising Expenses $656,496

Program Expenses $24,024,473

Other Expenses $4,416,270

TOTAL EXPENSES $26,576,095

Year-over-Year Comparison

	2022	2021	Change
Revenue	$25,278,515	$26,601,555	0.0%
Expenses	$26,576,095	$28,503,978	-0.1%
Net Income	$-1,297,580	$-1,902,423	-0.3%

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

519

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

$535,301

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNY BUI	CHIEF OPERATING OFFICER	40.0	Officer	$203,423	$23,321	$226,744
CAROLYN WILHELM	CFO END 11/22	40.0	Officer	$177,363	$9,896	$187,259
MEGAN SWETT	DIV DIR HEARTSPRING SCHOOL	40.0	Highest	$125,774	$14,275	$140,049
STEPHEN PERRY	DIRECTOR OF EDUCATIONAL SRVCS	40.0	Highest	$121,586	$11,953	$133,539
STACIE WILLIAMSON	VP OF FUND DEVELOPMENT	40.0	Highest	$118,990	$9,090	$128,080
SAFINA ABBAKHARY	HOME PARA	40.0	Highest	$111,199	$4,615	$115,814
MONIQUEKA HOLLOWAY	SR DIRECTOR OF COMPLIANCE	40.0	Highest	$107,431	$5,979	$113,410
MELISSA RILEY	CHIEF PEOPLE OFFICER END 11/22	40.0	Officer	$75,074	$4,592	$79,666
MAKALA NAVARRO	CPO BEG 10/22	40.0	Officer	$31,017	$0	$31,017
DAN SOLIDAY	CEO BEG 12/22	40.0	Officer	$9,892	$723	$10,615
TODD MATHENY	SECRETARY/ TREASURER	1.0	Officer Director	$0	$0	$0
ADAM BERRY	TRUSTEE	1.0	Director	$0	$0	$0
BOB MCFADDEN	TRUSTEE	1.0	Director	$0	$0	$0
GREG HAND	TRUSTEE	1.0	Director	$0	$0	$0
JASON BARB	TRUSTEE	1.0	Director	$0	$0	$0
JEREMY MACHAIN	CHAIR	1.0	Officer Director	$0	$0	$0
KRISTIN ROBERT	TRUSTEE	1.0	Director	$0	$0	$0
LORA SMITH	TRUSTEE	1.0	Director	$0	$0	$0
NATALIE HINKIN	TRUSTEE	1.0	Director	$0	$0	$0
SCOTT GEPNER	VICE CHAIR	1.0	Officer Director	$0	$0	$0
STEPHANIE FARLEY	PAST CHAIR	1.0	Director	$0	$0	$0
CRYSTAL HOUGH	CFO BEG 02/23	40.0	Officer	$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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$25,278,515	$26,576,095	$28,430,218	$-1,297,580
2022	$26,601,555	$28,503,978	$29,501,507	$-1,902,423
2021	$29,928,293	$28,408,650	$32,760,069	$1,519,643
2020	$26,408,048	$25,510,452	$33,983,759	$897,596
2019	$26,680,941	$23,671,996	$30,210,319	$3,008,945