HARDWOOD FORESTRY FUND

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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

1993

Legal Domicile

Principal Officer

KEITH CHRISTMAN

Phone

7034352900

Tax Period

2025-01-01 to 2025-12-31

HARDWOOD FORESTRY FUND, founded in 1993, is a micro nonprofit in the Environment sector that reported $685 in total revenue in fiscal year 2025. Revenue fell 97% from the prior year — a significant decline worth monitoring. Expenses of $151K exceeded revenue, resulting in a 21977% operating deficit.

Mission

TO PROMOTE HARDWOOD TIMBER GROWTH, SUSTAINABLE MANAGEMENT, EDUCATION, AND ENVIRONMENTALLY-SOUND USES OF RENEWABLE FOREST RESOURCES.

Program Service Accomplishments

Program 1

Expenses: $142,079

THE HARDWOOD FORESTRY FUND AWARDS GRANTS FOR TREE PLANTING, HARDWOOD MANAGEMENT, FORESTRY EDUCATION, AND RESEARCH FOR THE PURPOSE OF REPLACING HARVESTED TREES, AND TO ESTABLISH SUSTAINABLE HARDWOOD...

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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 $0

Investment Income $685

Other Revenue $0

TOTAL REVENUE $685

Expense Breakdown

Grants Paid $142,079

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $142,079

Other Expenses $9,149

TOTAL EXPENSES $151,228

Year-over-Year Comparison

	2025	2024	Change
Revenue	$685	$24,072	-1.0%
Expenses	$151,228	$10,160	+13.9%
Net Income	$-150,543	$13,912	-11.8%

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
RICK PHILIPPS	DIRECTOR	1.00	Director	$0	$0	$0
DAVID THOMSSON	VICE CHAIRMAN	1.00	Director	$0	$0	$0
KEITH CHRISTMAN	SEC/TREASURER	1.00	Director	$0	$0	$0
GEORGE FREEMAN	DIRECTOR	1.00	Director	$0	$0	$0
STUART CLARKE	DIRECTOR	1.00	Director	$0	$0	$0
JIM MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
JACK SEIFERT	DIRECTOR	1.00	Director	$0	$0	$0
ROSE FORCEY	DIRECTOR	1.00	Director	$0	$0	$0
TIM FIXMER	DIRECTOR	1.00	Director	$0	$0	$0
MIKE TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
JOHN VARNER	CHAIRMAN OF THE BOARD	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
2025	$685	$151,228	$50,278	$-150,543
2024	$24,072	$10,160	$204,701	$13,912
2023	$24,953	$9,850	$213,779	$15,103
2022	$9,101	$9,371	$228,978	$-270
2021	$26,791	$50,205	$234,248	$-23,414
2020	$57,631	$111,537	$274,550	$-53,906
2019	$49,947	$29,826	$265,776	$20,121
2018	$7,970	$7,793	$275,403	$177