HEADLINERS FOUNDATION OF TEXAS

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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

1983

Legal Domicile

Principal Officer

JOANNE MIDWIKIS

Phone

5124960272

Tax Period

2023-08-01 to 2024-07-31

HEADLINERS FOUNDATION OF TEXAS, founded in 1983, is a small nonprofit that reported $697K in total revenue in fiscal year 2023. Revenue surged 111% from the prior year, signaling strong growth momentum. The organization ran a surplus of $356K, a strong 51% operating margin.

Mission

TO PROMOTE EXCELLENCE IN JOURNALISM BY PROVIDING SCHOLARSHIPS TO STUDENT JOURNALISTS AND REWARDING OUTSTANDING PERFORMANCE.

Program Service Accomplishments

Program 1

Expenses: $248,591

THE FOUNDATION PROVIDES AWARDS, GRANTS, AND SCHOLARSHIPS TO ENCOURAGE AND RECOGNIZE EXCELLENCE IN JOURNALISM.

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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 $266,860

Program Service Revenue $0

Investment Income $430,256

Other Revenue $0

TOTAL REVENUE $697,116

Expense Breakdown

Grants Paid $167,576

Salaries & Benefits $90,854

Fundraising Expenses $73,103

Program Expenses $248,591

Other Expenses $82,637

TOTAL EXPENSES $341,067

Year-over-Year Comparison

	2023	2022	Change
Revenue	$697,116	$330,131	+1.1%
Expenses	$341,067	$321,724	+0.1%
Net Income	$356,049	$8,407	+41.4%

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

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

$86,381

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMY VILLARREAL	CHAIR, STRATEGIC DEVELOPMENT	1.00	Officer Director	$0	$0	$0
CEDRIC GOLDEN	GOVERNOR	1.00	Director	$0	$0	$0
DEBBIE HIOTT	GOVERNOR	1.00	Director	$0	$0	$0
DIANA FUENTES	GOVERNOR	1.00	Director	$0	$0	$0
ELIZABETH CHRISTIAN	GOVERNOR	1.00	Director	$0	$0	$0
FRED ZIPP	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JANE GREIG	GOVERNOR	1.00	Director	$0	$0	$0
JOANNE MIDWIKIS	TREASURER, GOVERNOR EMERITUS	1.00	Officer Director	$0	$0	$0
JUDY OSKAM	GOVERNOR	1.00	Director	$0	$0	$0
KATHLEEN MCELROY	SECRETARY	1.00	Officer Director	$0	$0	$0
MARK MORRISON	CHAIR, LUNDQUIST INSTITUTE	1.00	Officer Director	$0	$0	$0
PATTI OHLENDORF	CHAIR	1.00	Officer Director	$0	$0	$0
PATTI SMITH	VICE CHAIR, GOVERNOR EMERITUS	1.00	Officer Director	$0	$0	$0
TERRY TOTTENHAM	CHAIR, BUDGET & FINANCE	1.00	Officer Director	$0	$0	$0
TONY PEDERSON	GOVERNOR	1.00	Director	$0	$0	$0
ED CLEMENTS	GOVERNOR	1.00	Director	$0	$0	$0
DAVID RYFE	GOVERNOR	1.00	Director	$0	$0	$0
ROSS RAMSEY	GOVERNOR	1.00	Director	$0	$0	$0
NANN GOPLERUD	GOVERNOR	1.00	Director	$0	$0	$0
ALISON UNGER	EXECUTIVE DIRECTOR	20.00	Officer	$72,583	$0	$72,583
LAURA WINGO	CONTROLLER	20.00	Officer	$13,798	$0	$13,798

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	$697,116	$341,067	$6,512,869	$356,049
2023	$330,131	$321,724	$5,790,682	$8,407
2022	$1,423,330	$276,555	$5,536,602	$1,146,775
2021	$408,321	$204,749	$5,872,954	$203,572
2020	$396,797	$237,200	$4,866,632	$159,597
2019	$228,812	$230,914	$4,426,435	$-2,102