INDEPENDENCE CHARITABLE TRUST (EIN 481172055) - Form 990 Financial Analysis & Trantor Score

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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

1995

Legal Domicile

Principal Officer

STEVE FREDRICKSON

Phone

7858409676

Tax Period

2024-01-01 to 2024-12-31

INDEPENDENCE CHARITABLE TRUST, founded in 1995, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $739K in total revenue in fiscal year 2024. Revenue surged 570% from the prior year, signaling strong growth momentum. The organization ran a surplus of $536K, a strong 73% operating margin.

Mission

RECEIVE DONATIONS FOR PURPOSE OF MAKING GRANTS TO 501(C)(3) ORGANIZATIONS.

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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 $40,000

Program Service Revenue $0

Investment Income $245,591

Other Revenue $453,175

TOTAL REVENUE $738,766

Expense Breakdown

Grants Paid $194,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $194,000

Other Expenses $8,919

TOTAL EXPENSES $202,919

Year-over-Year Comparison

	2024	2023	Change
Revenue	$738,766	$110,293	+5.7%
Expenses	$202,919	$215,150	-0.1%
Net Income	$535,847	$-104,857	-6.1%

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

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

$482,175

Total Directors

$482,175

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MEL J SAUER JR	CHAIRMAN OF THE BOARD	0.25	Officer Director	$0	$0	$0
ROGER L MCCOLLISTER	MIDLAND BOARD CHAIR	0.30	Officer Director	$0	$0	$48,000
MARILYN M HARP	TRUSTEE	0.25	Director	$0	$0	$0
STEVE FREDRICKSON	MIDLAND CFO	0.60	Officer Director	$0	$12,950	$159,018
MIKE LENNEN	TRUSTEE	0.25	Director	$0	$0	$0
DONALD A JOHNSTON	TRUSTEE	0.25	Director	$0	$0	$0
JACOB HODGE	MIDLAND PRESIDENT/CEO	0.30	Officer Director	$0	$1,059	$275,157

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	$738,766	$202,919	$6,212,179	$535,847
2023	$110,293	$215,150	$5,434,079	$-104,857
2022	$-320,819	$210,626	$5,066,780	$-531,445
2021	$222,118	$189,853	$6,365,070	$32,265
2020	$966,832	$191,485	$5,814,755	$775,347

INDEPENDENCE CHARITABLE TRUST