CORTICO 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

2016

Legal Domicile

Principal Officer

TATIANA IVANCEVICH

Phone

6307890200

Tax Period

2023-01-01 to 2023-12-31

CORTICO CORPORATION, founded in 2016, is a community nonprofit in the Science & Technology sector that reported $2.5M in total revenue in fiscal year 2023. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $4.3M exceeded revenue, resulting in a 73% operating deficit.

Mission

WE BELIEVE CIVIC LIFE CAN BE REVITALIZED WHEN WE HOLD SPACE FOR CONVERSATION, RECOGNIZING THAT TRADITIONALLY UNDERHEARD VOICES AND MARGINAL EXPERIENCES CAN YIELD IMPROVED UNDERSTANDING AND COMMUNICATION ACROSS BOUNDARIES. SEE SCHEDULE O.

Program Service Accomplishments

Program 1

Expenses: $3,416,747 Revenue: $706,322

IN 2023 CORTICO CONTINUED TO EXPAND THE LOCAL VOICES NETWORK, A UNIQUE, PHYSICAL-DIGITAL NETWORK TO BRING UNDER-HEARD COMMUNITY VOICES, PERSPECTIVES, AND STORIES INTO THE CENTER OF A HEALTHIER PUBLIC SPHERE.LVN BRINGS TOGETHER SMALL GROUPS OF 4-8 PEOPLE TOGETHER FOR FACILITATEDCONVERSATIONS ABOUT WHAT MATTERS MOST TO THEM IN THEIR COMMUNITIES ANDIN THE NATION.CONVERSATIONS MIGHT FOCUS BROADLY ON HOPES AND CONCERNS, OR BE MORETOPICALLY FOCUSED; BUT, THE COMMON QUALITIES ARE SURFACING THE VALUESDRIVING INDIVIDUAL PARTICIPATION, SHARING PERSONAL EXPERIENCES THATINFORM THOUGHTS AND FEELINGS ABOUT THEIR COMMUNITIES, AND ENGAGING INMEANING-MAKING THROUGH REFLECTION ON PERSPECTIVES OF OTHERS BOTH WITHIN

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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 $1,696,925

Program Service Revenue $706,322

Investment Income $84,499

Other Revenue $6,655

TOTAL REVENUE $2,494,401

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,218,085

Fundraising Expenses $98,139

Program Expenses $3,416,747

Other Expenses $1,105,098

TOTAL EXPENSES $4,323,183

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,494,401	$3,375,561	-0.3%
Expenses	$4,323,183	$2,220,101	+0.9%
Net Income	$-1,828,782	$1,155,460	-2.6%

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

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
DEB ROBY	CEO & CO-FOUNDER	5.00	Officer Director	$0	$0	$0
EUGENE YI	DIRECTOR	5.00	Director	$0	$0	$0
KATHY KRAMER	DIRECTOR	0.50	Director	$0	$0	$0
YAT SIU	DIRECTOR	0.50	Director	$0	$0	$0
JUAN ENRIQUEZ	DIRECTOR	0.50	Director	$0	$0	$0
RUSSELL STEVENS	TREASURER & CO-FOUNDER	5.00	Officer Director	$0	$0	$0
JENINE TURNER-TRAURING	INTERIM SOFTWARE ENGINEERING TEAM LEAD	40.00	Highest	$109,228	$0	$109,228
ALEX KELLY BERMAN	VP OF PARTNERSHIPS & PROGRAMS	40.00	Highest	$143,018	$0	$143,018
JOSIAH OBERHOLTZER	SOFTWARE ENGINEER	40.00	Highest	$123,582	$0	$123,582

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	$2,494,401	$4,401,257	$8,084,564	$-1,906,856
2023	$2,494,401	$4,323,183	$7,542,809	$-1,828,782
2022	$3,375,561	$2,220,101	$4,505,246	$1,155,460
2021	$987,674	$1,768,075	$3,352,303	$-780,401
2020	$521,424	$1,812,069	$4,449,846	$-1,290,645
2019	$2,453,098	$2,364,146	$1,285,995	$88,952
2019	$2,453,098	$2,214,024	$1,436,117	$239,074
2018	$1,713,953	$1,342,053	$1,217,030	$371,900