INNOVATE BIRMINGHAM

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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

2017

Legal Domicile

Principal Officer

MARTHA UNDERWOOD

Phone

2059198324

Tax Period

2022-01-01 to 2022-12-31

INNOVATE BIRMINGHAM, founded in 2017, is a small nonprofit in the Employment sector that reported $344K in total revenue in fiscal year 2022. Revenue fell 64% from the prior year — a significant decline worth monitoring. Expenses of $555K exceeded revenue, resulting in a 61% operating deficit.

Mission

INNOVATE BIRMINGHAM IS A NONPROFIT ORGANIZATION WORKING TO PROMOTE ECONOMIC MOBILITY AND FILL THE TECH TALENT GAP IN CENTRAL ALABAMA.

Program Service Accomplishments

Program 1

Expenses: $414,412

IN 2016, FOLLOWING THE AWARD OF THE US DEPARTMENT OF LABOR'S AMERICA'SPROMISE GRANT (LED BY THE UNIVERSITY OF ALABAMA AT BIRMINGHAM (UAB)), ACOALITION OF OVER 15 COMMUNITY PARTNERS AND 30 EMPLOYERS CAME TOGETHER TOSOLVE TWO PROBLEMS: (1) MEET THE DEMAND OF AN IT WORKFORCE GROWING AT THESECOND-FASTEST PACE IN THE COUNTRY; (2) HARNESS THE POTENTIAL OF UNDER- ANDUNEMPLOYED RESIDENTS IN CENTRAL ALABAMA. INNOVATE BIRMINGHAM AND OUR PARTNERS ARE DRIVEN BY A SHARED BELIEF: TALENT IS DISTRIBUTED EQUALLY IN OUR COMMUNITY BUT OPPORTUNITY IS NOT. OUR PROGRAMS ARE DESIGNED TO ADDRESS THIS CHALLENGE BY IDENTIFYING TALENT NEEDS WITH EMPLOYERS; CONNECTING WITH AREA RESIDENTS WHO ARE DISCONNECTED FROM THE LABOR MARKET; AND PROVIDING HOLISTIC SUPPORT, PROFESSIONAL DEVELOPMENT, AND TRAINING FOR OUR STUDENTS.AS A DEMAND-DRIVEN NONPROFIT ORGANIZATION, OUR PROGRAMS ARE UPDATED ANDALIGNED WITH INDUSTRY NEEDS ALONG WITH INPUT FROM EMPLOYERS ANDPARTICIPANTS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $343,232

Program Service Revenue $0

Investment Income $216

Other Revenue $107

TOTAL REVENUE $343,555

Expense Breakdown

Grants Paid $0

Salaries & Benefits $364,700

Fundraising Expenses $66,499

Program Expenses $414,412

Other Expenses $189,906

TOTAL EXPENSES $554,606

Year-over-Year Comparison

	2022	2021	Change
Revenue	$343,555	$951,171	-0.6%
Expenses	$554,606	$926,921	-0.4%
Net Income	$-211,051	$24,250	-9.7%

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

$79,366

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARTHA UNDERWOOD	PRESIDENT	3.00	Officer Director	$0	$0	$0
DELPHINE CARTER	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
DONNIE GARVICH	DIRECTOR	3.00	Director	$0	$0	$0
CHRIS SIMS	DIRECTOR	3.00	Director	$0	$0	$0
EMILY WYKLE	DIRECTOR	3.00	Director	$0	$0	$0
BEN BRANCH	DIRECTOR	3.00	Director	$0	$0	$0
REBECCA DOBRINSKI	DIRECTOR	3.00	Director	$0	$0	$0
AMANDA STEWART RANEY	DIRECTOR	3.00	Director	$0	$0	$0
DENITA BEARDEN	DIRECTOR OF OPERATIONS	40.00	Officer	$66,113	$13,253	$79,366

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
2022	$343,555	$554,606	$219,808	$-211,051
2021	$951,171	$926,921	$325,514	$24,250
2020	$1,498,666	$1,331,112	$391,039	$167,554
2018	$434,264	$319,826	$127,006	$114,438