Heart and Armor Foundation (EIN 824502174) - 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

2018

Legal Domicile

Phone

4155091008

Tax Period

2023-01-01 to 2023-12-31

Heart and Armor Foundation, founded in 2018, is a community nonprofit in the Public & Societal Benefit sector that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 88% from the prior year, signaling strong growth momentum. The organization ran a surplus of $421K, a strong 37% operating margin.

Mission

The Heart and Armor Foundation for Veterans Health aims to protect the health of veterans and to connect civilians to the experience of military service.

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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 $1,147,260

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,147,260

Expense Breakdown

Grants Paid $290,000

Salaries & Benefits $260,873

Fundraising Expenses $33,618

Program Expenses $605,945

Other Expenses $175,397

TOTAL EXPENSES $726,270

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,147,260	$611,116	+0.9%
Expenses	$726,270	$524,968	+0.4%
Net Income	$420,990	$86,148	+3.9%

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

$245,410

Total Directors

$218,327

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Gerard Choucroun	Executive Director and Board Member	40.00	Officer Director Highest	$213,742	$4,585	$218,327
Stephen Morange	CFO	25.00	Officer	$25,708	$1,375	$27,083
John Mayer	President and Board Member	2.00	Officer Director	$0	$0	$0
Richard Venerus	Secretary Treasurer and Board Member	5.00	Officer Director	$0	$0	$0
Brandon Phelps	Board Member	5.00	Director	$0	$0	$0

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	$1,147,260	$726,270	$664,272	$420,990
2022	$611,116	$524,968	$243,282	$86,148
2022	$611,116	$524,968	$243,282	$86,148
2021	$333,701	$401,314	$157,134	$-67,613
2020	$354,374	$393,536	$224,747	$-39,162
2020	$354,374	$393,536	$224,747	$-39,162
2019	$545,363	$281,454	$263,909	$263,909

Heart and Armor Foundation