THE IOWA WAVE SHIRT (EIN 830840231) - 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

Principal Officer

LORI WILLIS

Phone

5158683335

Tax Period

2024-01-01 to 2024-12-31

THE IOWA WAVE SHIRT, founded in 2018, is a small nonprofit in the Health Care sector that reported $218K in total revenue in fiscal year 2024. Revenue fell 62% from the prior year — a significant decline worth monitoring. Expenses of $461K exceeded revenue, resulting in a 111% operating deficit.

Mission

THE IOWA WAVE SHIRT CONDUCTS FUNDRAISING ACTIVITIES, PRIMARILY FROM THE SALE OF T-SHIRTS AND OTHER APPAREL, TO SUPPORT THE UNIVERSITY OF IOWA STEAD FAMILY CHILDREN'S HOSPITAL.

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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 (2024)

Revenue Breakdown

Contributions & Grants $114,964

Program Service Revenue $0

Investment Income $602

Other Revenue $102,405

TOTAL REVENUE $217,971

Expense Breakdown

Grants Paid $375,000

Salaries & Benefits $68,477

Fundraising Expenses $0

Program Expenses $444,475

Other Expenses $17,275

TOTAL EXPENSES $460,752

Year-over-Year Comparison

	2024	2023	Change
Revenue	$217,971	$575,326	-0.6%
Expenses	$460,752	$383,125	+0.2%
Net Income	$-242,781	$192,201	-2.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LORI WILLIS	PRESIDENT	10.00	Officer Director	$0	$0	$0
BROOKE MICKELSON	SECRETARY	1.00	Officer Director	$0	$0	$0
MEIGHAN PHILLIPS	TREASURER	10.00	Officer Director	$0	$0	$0
JASON WILLIS	DIRECTOR	0.25	Director	$0	$0	$0
CY PHILLIPS	DIRECTOR	0.25	Director	$0	$0	$0
JOHN MICKELSON	DIRECTOR	0.25	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	$217,971	$460,752	$281,060	$-242,781
2023	$575,326	$383,125	$523,841	$192,201
2022	$319,463	$432,999	$331,640	$-113,536
2021	$430,675	$115,952	$445,176	$314,723
2020	$95,351	$330,406	$136,253	$-235,055
2019	$378,840	$579,068	$365,508	$-200,228

THE IOWA WAVE SHIRT