THE HOWARD FUND

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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

2016

Legal Domicile

Principal Officer

JOSEPH H DAVENPORT III

Phone

4232663544

Tax Period

2023-01-01 to 2023-12-31

THE HOWARD FUND, founded in 2016, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $3.0M in total revenue in fiscal year 2023. Revenue surged 906% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.7M, a strong 57% operating margin.

Mission

THE FUND WAS ESTABLISHED AS A SUPPORTING ORGANIZATION FOR THE COMMUNITY FOUNDATION OF GREATER CHATTANOOGA, INC.

Program Service Accomplishments

Program 1

Expenses: $1,235,000

PROVIDING SCHOLARSHIPS AND FUNDS FOR AREA BEAUTIFICATION, DOWNTOWN DEVELOPMENT, HEALTH RELATED ISSUES, CIVIC AND CULTURAL IMPROVEMENTS, AND EDUCATIONAL AND HUMANITARIAN PROGRAMS.

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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 $2,948,859

Program Service Revenue $0

Investment Income $36,985

Other Revenue $0

TOTAL REVENUE $2,985,844

Expense Breakdown

Grants Paid $1,235,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,235,000

Other Expenses $55,289

TOTAL EXPENSES $1,290,289

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,985,844	$296,820	+9.1%
Expenses	$1,290,289	$504,839	+1.6%
Net Income	$1,695,555	$-208,019	-9.2%

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

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
JOSEPH H DAVENPORT III	PRESIDENT	4.00	Officer Director	$0	$0	$0
JOSEPH H DAVENPORT IV	SECRETARY AND TREASURER	4.00	Officer Director	$0	$0	$0
TED ALLING	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK STOWE	DIRECTOR	1.00	Director	$0	$0	$0
LESLEY SCEARCE	DIRECTOR	1.00	Director	$0	$0	$0
MAEGHAN JONES	PRESIDENT - CFGC	1.00	Highest	$0	$32,046	$245,237

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	$2,985,844	$1,290,289	$11,336,902	$1,695,555
2022	$296,820	$504,839	$7,965,529	$-208,019
2021	$717,630	$393,412	$9,536,465	$324,218
2020	$1,594,292	$582,384	$8,778,558	$1,011,908
2019	$413,879	$142,815	$6,264,565	$271,064
2018	$2,403,452	$689,205	$5,367,149	$1,714,247