SPEARHEAD CORPORATION

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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

1989

Legal Domicile

Principal Officer

KEILEE GOODHEART

Phone

8066593030

Tax Period

2023-01-01 to 2023-12-31

SPEARHEAD CORPORATION, founded in 1989, is a small nonprofit in the Recreation & Sports sector that reported $175K in total revenue in fiscal year 2023. Expenses of $220K exceeded revenue, resulting in a 26% operating deficit.

Mission

THE O'LOUGHLIN CENTER'S MISSION IS TO PROVIDE A QUALITY FACILITY AND BROAD-BASED PROGRAMMING TO SERVE ALL OF THE CITIZENS OF THE SURROUNDING AREA IN A MANNER WHICH ENHANCES THEIR QUALITY OF LIFE. THROUGH VISIONARY AND ACTIVE LEADERSHIP THE BOARD WILL ESTABLISH POLICIES AND PROCEDURES THAT PROVIDE LONG-TERM FINANCIAL SECURITY FOR ORGANIZATION.

Program Service Accomplishments

Program 1

Expenses: $178,223 Revenue: $19,579

SPEARHEAD CORPORATION WAS FORMED TO BUILD AND OPERATE A COMMUNITY CENTER FOR THE CITY OF SPEARMAN, TEXAS. THE COMMUNITY CENTER CONTAINS A GYM, MEETING ROOMS AND KITCHEN THAT ARE USED BY YOUTH, ADULT AND SENIOR CITIZEN GROUPS. PERSONS SERVED APPROXIMATELY 50,000 IN THE COMMUNITY AND IN EXCESS OF 2,100 DIRECT WITHIN PROGRAMS OF THE CENTER .

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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 $121,028

Program Service Revenue $19,579

Investment Income $18,978

Other Revenue $15,430

TOTAL REVENUE $175,015

Expense Breakdown

Grants Paid $0

Salaries & Benefits $108,745

Fundraising Expenses $11,478

Program Expenses $178,223

Other Expenses $111,034

TOTAL EXPENSES $219,779

Year-over-Year Comparison

	2023	2022	Change
Revenue	$175,015	$172,384	+0.0%
Expenses	$219,779	$243,885	-0.1%
Net Income	$-44,764	$-71,501	-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

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

$51,106

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEILEE GOODHEART	EXECUTIVE DI	35.00	Officer	$51,106	$0	$51,106
CARI BEAUCHAMP	DIRECTOR	2.00	Director	$0	$0	$0
ASHLYN GROTEGUT	DIRECTOR	2.00	Director	$0	$0	$0
SAMMIE HARKEY	DIRECTOR	2.00	Director	$0	$0	$0
JAYLI HUGHES	DIRECTOR	2.00	Director	$0	$0	$0
TIMBER LOMELI	DIRECTOR	2.00	Director	$0	$0	$0
MANNY MENDOZA	DIRECTOR	2.00	Director	$0	$0	$0
JUSTIN PARKER	DIRECTOR	2.00	Director	$0	$0	$0
ANDREW PARSLEY	TREASURER	2.00	Director	$0	$0	$0
JACKIE PEARSON	EXECUTIVE CO	2.00	Director	$0	$0	$0
SUSAN PEARSON	DIRECTOR	2.00	Director	$0	$0	$0
TINDLE RAMON	CORP. PRESID	2.00	Director	$0	$0	$0
PATTI SCHNELL	EXECUTIVE CO	2.00	Director	$0	$0	$0
VERNA LEE SHIRLEY	EXECUTIVE AM	2.00	Director	$0	$0	$0
ANGIE SONNENBERG	SECRETARY	2.00	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
2024	No data	No data	No data	No data
2023	$175,015	$219,779	$954,545	$-44,764
2022	$172,384	$243,885	$990,709	$-71,501
2021	$257,206	$237,794	$1,109,845	$19,412
2021	$257,207	$237,794	$1,109,846	$19,413
2020	$242,696	$239,438	$829,417	$3,258
2019	$263,685	$244,732	$827,934	$18,953
2018	$215,681	$231,637	$808,783	$-15,956