Heartland Economic Development (EIN 592997739) - 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

1986

Legal Domicile

Principal Officer

May Williams

Phone

8635135780

Tax Period

2024-01-01 to 2024-12-31

Heartland Economic Development, founded in 1986, is a micro nonprofit that reported $12K in total revenue in fiscal year 2024. Revenue surged 126% from the prior year, signaling strong growth momentum. Expenses of $24K exceeded revenue, resulting in a 98% operating deficit.

Mission

To hold title to 501c3 organiza

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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 $0

Program Service Revenue $0

Investment Income $0

Other Revenue $12,190

TOTAL REVENUE $12,190

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $24,154

Other Expenses $24,154

TOTAL EXPENSES $24,154

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,190	$5,400	+1.3%
Expenses	$24,154	$24,441	0.0%
Net Income	$-11,964	$-19,041	-0.4%

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
May Williams	Chairperson	2	Officer	$0	$0	$0
John Ruffen	Vice President	2	Officer	$0	$0	$0
Viola L Simpki	Director	2	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
2024	$12,190	$24,154	$662,612	$-11,964
2023	$5,400	$24,441	$694,790	$-19,041
2022	$2,400	$163,515	$713,831	$-161,115
2021	$16,800	$28,588	$737,529	$-11,788
2020	$9,465	$20,045	$705,118	$-10,580

Heartland Economic Development