HETERODOX ACADEMY (EIN 822903153) - Form 990 Financial Analysis & Trantor Score

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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

MICHAEL REGNIER

Phone

3478601206

Tax Period

2023-09-01 to 2024-08-31

HETERODOX ACADEMY, founded in 2017, is a community nonprofit in the Education sector that reported $9.4M in total revenue in fiscal year 2023. Revenue surged 216% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.5M, a strong 48% operating margin.

Mission

TO IMPROVE THE QUALITY OF RESEARCH AND EDUCATION IN UNIVERSITIES BY INCREASING OPEN INQUIRY, VIEWPOINT DIVERSITY, AND CONSTRUCTIVE DISAGREEMENT.

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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 $9,133,152

Program Service Revenue $162,602

Investment Income $66,775

Other Revenue $42,046

TOTAL REVENUE $9,404,575

Expense Breakdown

Grants Paid $43,042

Salaries & Benefits $2,387,159

Fundraising Expenses $744,561

Program Expenses $3,381,841

Other Expenses $2,460,359

TOTAL EXPENSES $4,890,560

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,404,575	$2,980,573	+2.2%
Expenses	$4,890,560	$2,395,669	+1.0%
Net Income	$4,514,015	$584,904	+6.7%

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

N/A

Volunteers

210

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

$765,726

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY FLIER	TRUSTEE	2.00	Director	$0	$0	$0
JONATHAN HAIDT	CHAIR OF THE BOARD, TRUSTEE	2.00	Officer Director	$0	$0	$0
KATE SMITH	TRUSTEE	2.00	Director	$0	$0	$0
KATHLEEN O'CONNOR	TRUSTEE	2.00	Director	$0	$0	$0
STEVEN LAUB	TREASURER, TRUSTEE	2.00	Officer Director	$0	$0	$0
TONY BANOUT	TRUSTEE	2.00	Director	$0	$0	$0
JOHN TOMASI	PRESIDENT	40.00	Officer	$482,922	$46,151	$529,073
MICHAEL REGNIER	EXECUTIVE DIRECTOR, BOARD SECRETARY	40.00	Officer	$230,468	$6,185	$236,653
NICOLE BARBARO SIMOVSKI	DIRECTOR OF COMMUNICATIONS, MARKETING, AND EVENTS	40.00	Highest	$146,384	$21,487	$167,871

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	$9,404,575	$4,890,560	$7,593,845	$4,514,015
2023	$2,980,573	$2,395,669	$2,673,674	$584,904
2022	$4,173,377	$3,916,641	$1,639,784	$256,736
2021	$2,832,778	$2,859,589	$1,652,564	$-26,811
2020	$2,133,664	$1,992,194	$1,686,018	$141,470
2019	$1,944,901	$1,185,853	$1,087,806	$759,048
2018	$680,051	$363,408	$392,285	$316,643

HETERODOX ACADEMY