DECORATIVE HARDWOODS ASSOCIATION

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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

1921

Legal Domicile

Principal Officer

KEITH CHRISTMAN

Phone

7034352900

Tax Period

2025-01-01 to 2025-12-31

DECORATIVE HARDWOODS ASSOCIATION, founded in 1921, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2025. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $2.5M left a modest 3% surplus.

Mission

TO PROMOTE AND SUPPORT THE USE OF HIGH QUALITY, ENVIRONMENTALLY SOUND DECORATIVE WOOD PRODUCTS MANUFACTURED IN NORTH AMERICA.

Program Service Accomplishments

Program 1

Expenses: $1,538,885 Revenue: $1,843,194

LABORATORY: CERTIFICATION AND TESTING - THE HPVA LABORATORY IS ACCREDITED BY THE INTERNATIONAL ACCREDITATION SERVICE (IAS REPORT TL 224) FOR COMPLIANCE WITH ISO/IEC STANDARD 17025, GENERAL CRITERIA FOR THE COMPETENCE OF TESTING AND CALIBRATION LABORATORIES, RECOGNIZED BY THE INTERNATIONAL CODE COUNCILS FOR FIRE TESTING OF THE INTERNATIONAL BUILDING CODE, AND THE STATE OF CALIFORNIA AS A THIRD PARTY CERTIFICATION ORGANIZATION FOR FORMALDEHYDE PRODUCT TESTING. SERVICES INCLUDE ISO/IEC GUIDE 65 AND CARB TPC-8 PRODUCT CERTIFICATION, FIRE TESTING, FORMALDEHYDE TESTING, AND PRODUCT PROPERTY TESTING. THESE PROGRAMS SERVE OVER 100 MEMBERS AND CLIENTS.

Program 2

Expenses: $140,393 Revenue: $49,782

MARKETING - PRODUCE AND PUBLISH PUBLICATION ON MEMBERS PRINCIPAL PRODUCTS, DATA SHEETS, AND TECHNICAL BRIEFS, AND OTHER TECHNICAL INFORMATION. PRODUCT PROMOTION ENCOMPASSES BOTH DOMESTIC AND EXPORT MARKETS FOR THE THREE MANUFACTURING DIVISIONS COMPRISING HPVA WHICH ARE HARDWOOD, PLYWOOD ENGINEERED FLOORING, AND VENEER.

Program 3

Expenses: $101,609 Revenue: $101,296

MEETING - THESE FUNCTIONS OFFER OUR MEMBERS A FORUM IN WHICH TO DISPLAY THEIR PRODUCT LINES, DISCUSS CURRENT EVENTS RELATED TO THE INDUSTRY, AND SIT IN ON SEMINARS RUN BY FIELD EXPERTS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,556,082

Investment Income $17,099

Other Revenue $0

TOTAL REVENUE $2,573,181

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,328,514

Fundraising Expenses $0

Program Expenses $1,780,887

Other Expenses $1,164,932

TOTAL EXPENSES $2,493,446

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,573,181	$2,369,370	+0.1%
Expenses	$2,493,446	$2,417,038	+0.0%
Net Income	$79,735	$-47,668	-2.7%

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

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
VIJAY REDDY	VICE CHAIRMAN OF THE BOARD	1.00	Director	$0	$0	$0
GARRET KEIL	CHAIRMAN OF THE BOARD	1.00	Director	$0	$0	$0
KYLE EVANS	IMMEDIATE PAST CHAIRMAN OF	1.00	Director	$0	$0	$0
TERRY EVANS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KEN ELLINGTON	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MATT SMITH	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
STEVE LEONARD	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
TED DOWNS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
PAUL DAVIS	DIRECTOR	1.00	Officer Director	$0	$0	$0
DANIEL PACHECO	DIRECTOR	1.00	Officer Director	$0	$0	$0
MILTON GOODWIN	DIRECTOR	1.00	Officer Director	$0	$0	$0
CHRIS KNOWLES	DIRECTOR	1.00	Officer Director	$0	$0	$0
NICK ROGERS	DIRECTOR	1.00	Officer Director	$0	$0	$0
RICH SMOTHERS	DIRECTOR	1.00	Officer Director	$0	$0	$0
ROCKY BOUCHER	DIRECTOR	1.00	Officer Director	$0	$0	$0
JOHN VARNER	DIRECTOR	1.00	Officer Director	$0	$0	$0
KYLE THOMAS	DIRECTOR	1.00	Officer 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
2025	$2,573,181	$2,493,446	$5,920,759	$79,735
2024	$2,369,370	$2,417,038	$5,817,773	$-47,668
2023	$2,353,833	$2,134,279	$5,853,398	$219,554
2022	$2,015,836	$2,019,562	$5,692,595	$-3,726
2021	$2,106,073	$2,177,852	$5,733,316	$-71,779
2020	$1,546,915	$1,882,836	$5,918,634	$-335,921
2019	$1,940,544	$1,875,304	$5,993,169	$65,240
2018	$1,785,579	$1,805,573	$5,941,392	$-19,994