HOME EDUCATION ASSOCIATION OF TENNESSEE INC (EIN 621187619) - 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

1985

Legal Domicile

Principal Officer

Claiborne Thornton

Phone

9018610933

Tax Period

2023-01-01 to 2023-12-31

HOME EDUCATION ASSOCIATION OF TENNESSEE INC, founded in 1985, is a small nonprofit that reported $358K in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $344K left a modest 4% surplus.

Mission

Making every service you need for your homeschool to be successful as close to your kitchen table as possible is the focus of all the home schoolers working together in local support groups, coops and tutorials, teams, in your regional THEA chapter and in THEA.

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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 (2023)

Revenue Breakdown

Contributions & Grants $29,893

Program Service Revenue $326,700

Investment Income $0

Other Revenue $1,519

TOTAL REVENUE $358,112

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $331,205

Other Expenses $344,167

TOTAL EXPENSES $344,167

Year-over-Year Comparison

	2023	2022	Change
Revenue	$358,112	$294,805	+0.2%
Expenses	$344,167	$291,880	+0.2%
Net Income	$13,945	$2,925	+3.8%

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

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
Claiborne Thornton	President	10	Officer	$0	$0	$0
Terry Wade	Vice President	10	Officer	$0	$0	$0
Judith Belew	Secretary	10	Officer	$0	$0	$0
Wayne Addison	Treasurer	10	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	No data	No data	No data	No data
2023	$358,112	$344,167	$210,049	$13,945
2022	$294,805	$291,880	$191,094	$2,925
2021	$202,014	$208,343	$188,870	$-6,329
2020	$179,908	$156,816	$194,709	$23,092
2019	$226,375	$224,766	$170,262	$1,609

HOME EDUCATION ASSOCIATION OF TENNESSEE INC