HYART REDEVELOPMENT 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

2005

Legal Domicile

Principal Officer

MICHAEL J STEENBAKKERS

Tax Period

2024-07-01 to 2025-06-30

HYART REDEVELOPMENT CORPORATION, founded in 2005, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $228K in total revenue in fiscal year 2024. Revenue surged 31% from the prior year, signaling strong growth momentum. The organization ran a surplus of $52K, a strong 23% operating margin.

Mission

PROVIDE SUPPORT FOR THE CITY OF LOVELL IN THE FORM OF ENTERTAINMENT. PROVIDE EDUCATION TO THE COMMUNITY ON THE HISTORICAL VALUE OF THE HYART.

Program Service Accomplishments

Program 1

Expenses: $175,240

PROVIDE SUPPORT FOR THE CITY OF LOVELL IN THE FORM OF ENTERTAINMENT. PROVIDE EDUCATION TO THE COMMUNITY ON THE HISTORICAL VALUE OF THE HYART.

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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 $66,117

Program Service Revenue $161,404

Investment Income $137

Other Revenue $0

TOTAL REVENUE $227,658

Expense Breakdown

Grants Paid $0

Salaries & Benefits $49,000

Fundraising Expenses $0

Program Expenses $175,240

Other Expenses $126,240

TOTAL EXPENSES $175,240

Year-over-Year Comparison

	2024	2023	Change
Revenue	$227,658	$173,927	+0.3%
Expenses	$175,240	$160,488	+0.1%
Net Income	$52,418	$13,439	+2.9%

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

100

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
MIKE STEENBAKKERS	PRESIDENT	5	Officer	$0	$0	$0
TODD WILDER	VICE PRESIDENT	1	Officer	$0	$0	$0
OLIVER MITCHELL	TREASURER	2	Officer	$0	$0	$0
MINDY TIPPETTS	SECRETARY	1	Officer	$0	$0	$0
CAROL MILLER	OFFICER	1	Officer	$0	$0	$0
JACK BRINKERHOFF	OFFICER	1	Officer	$0	$0	$0
PATRICK SHANE	OFFICER	1	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
2025	$227,658	$175,240	$94,489	$52,418
2024	$173,927	$160,488	$42,071	$13,439
2023	$208,579	$194,444	$28,632	$14,135
2022	$169,621	$167,296	$14,497	$2,325
2021	$80,079	$91,569	$12,172	$-11,490
2020	$122,100	$123,097	$23,662	$-997
2019	$181,975	$180,749	$27,058	$1,226