DIGITALC

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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

2015

Legal Domicile

Principal Officer

MARLENE PIATAK

Phone

2169232240

Tax Period

2023-01-01 to 2023-12-31

DIGITALC, founded in 2015, is a mid-sized nonprofit in the Community Improvement sector that reported $12.8M in total revenue in fiscal year 2023. Revenue surged 58% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.8M, a strong 46% operating margin.

Mission

EMPOWER THE PEOPLE OF GREATER CLEVELAND TO ACHIEVE SUCCESS THROUGH TECHNOLOGY, INNOVATION AND CONNECTED COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $4,539,795 Revenue: $455,083

CANOPY: UTILIZING AN APPLIED RESEARCH MODEL, CANOPY HAS DEVELOPED A NOVEL FIXED-WIRELESS INTERNET NETWORK USING MULTI-TIERED TECHNOLOGY AND A UNIQUE CORE NETWORK ARCHITECTURE THAT IT INSTALLS ACROSS CLEVELAND NEIGHBORHOODS TO ADDRESS THE DIGITAL DIVIDE. THROUGH PARTNERSHIPS, THE ORGANIZATION ALSO PROVIDES DIGITAL SKILLS TRAINING, DEVICES AND OTHER SERVICES TO ENSURE MEANINGFUL USE.

Program 2

Expenses: $668,765 Revenue: $154,156

PLACE-BASED ACTIVATION: THE MIDTOWN TECH HIVE WAS CREATED IN CLOSE PROXIMITY TO SOME OF CLEVELAND'S POOREST AND MOST UNCONNECTED NEIGHBORHOODS. THE RENOVATION OF MORE THAN 13,000 SQAURE FEET OF SPACE PROVIDES INCLUSIVE AND INTENTIONAL PROGRAMMING AROUND DIGITAL LITERACY AND TECHNOLOGY SKILL BUILDING, ALONG WITH VIBRANT CO-WORKING.

Program 3

Expenses: $116,602

SAFE ROUTES TO SCHOOL: WORKS TO IMPROVE CHILDREN'S HEALTH AND SAFETY AND INCREASE THE NUMBER OF STUDENTS WALKING OR BIKING TO SCHOOL.

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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 $12,149,839

Program Service Revenue $609,239

Investment Income $18,278

Other Revenue $0

TOTAL REVENUE $12,777,356

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,006,098

Fundraising Expenses $162,995

Program Expenses $5,325,162

Other Expenses $2,931,731

TOTAL EXPENSES $6,937,829

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,777,356	$8,087,912	+0.6%
Expenses	$6,937,829	$8,312,393	-0.2%
Net Income	$5,839,527	$-224,481	-27.0%

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

$309,744

Total Directors