ARKANSAS RURAL ENDOWMENT FUND INC

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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

1959

Legal Domicile

Principal Officer

TONY MINICOZZI MANAGER

Tax Period

2022-07-01 to 2023-06-30

ARKANSAS RURAL ENDOWMENT FUND INC, founded in 1959, is a community nonprofit in the Education sector that reported $1.2M in total revenue in fiscal year 2022. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $447K, a strong 37% operating margin.

Mission

PROVIDING STUDENT AND AGRICULTURAL LOANS IN RURAL ARKANSAS

Program Service Accomplishments

Program 1

Expenses: $749,989 Revenue: $1,196,613

WITH THE PASSAGE OF ACT 27 IN 1959, THE ARKANSAS GENERAL ASSEMBLY CREATED AREF AS A PRIVATE, NONPROFIT ENTITY WITH THE SOLE PURPOSE OF MAKING AFFORDABLE LOANS TO RURAL ARKANSANS. SINCE THAT TIME...

WITH THE PASSAGE OF ACT 27 IN 1959, THE ARKANSAS GENERAL ASSEMBLY CREATED AREF AS A PRIVATE, NONPROFIT ENTITY WITH THE SOLE PURPOSE OF MAKING AFFORDABLE LOANS TO RURAL ARKANSANS. SINCE THAT TIME, AREF HAS HELPED THOUSANDS OF ARKANSANS ATTAIN HIGHER EDUCATION TO PURSUE THEIR DREAMS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $883,573

Investment Income $190,625

Other Revenue $122,414

TOTAL REVENUE $1,196,612

Expense Breakdown

Grants Paid $0

Salaries & Benefits $462,725

Fundraising Expenses $0

Program Expenses $749,989

Other Expenses $287,264

TOTAL EXPENSES $749,989

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,196,612	$990,241	+0.2%
Expenses	$749,989	$689,991	+0.1%
Net Income	$446,623	$300,250	+0.5%

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

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
RICHARD ABERNATHY	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS LAMPKIN	DIRECTOR	1.00	Director	$0	$0	$0
MARK LOWERY	DIRECTOR	1.00	Director	$0	$0	$0
RONNIE ROBERTS	DIRECTOR	1.00	Director	$0	$0	$0
KENNETH MOURTON	DIRECTOR	1.00	Director	$0	$0	$0
ANN B PUGH	DIRECTOR	1.00	Director	$0	$0	$0
PAULA TERRELL	PRESIDENT	1.00	Officer Director	$0	$0	$0
TONY MINICOZZI	EXECUTIVE DIRECTOR	1.00	Officer Key Emp	$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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$1,196,612	$749,989	$31,258,127	$446,623
2022	$990,241	$689,991	$30,830,517	$300,250
2021	$1,112,665	$656,876	$30,563,026	$455,789
2020	$1,188,342	$689,812	$30,089,301	$498,530
2019	$1,294,425	$680,507	$29,514,468	$613,918
2018	$1,022,585	$706,683	$28,892,259	$315,902