THE IOWA WAVE SHIRT

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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

2025-01-01 to 2025-12-31

THE IOWA WAVE SHIRT, founded in 2018, is a small nonprofit in the Health Care sector that reported $208K in total revenue in fiscal year 2025. Expenses of $192K left a modest 8% surplus.

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.

Program Service Accomplishments

Program 1

Expenses: $171,719 Revenue: $95,416

THE IOWA WAVE SHIRT SUPPORTS THE UNIVERSITY OF IOWA STEAD FAMILY CHILDREN'S HOSPITAL THROUGH FUNDRAISING ACTIVITIES OF T-SHIRTS AND OTHER APPAREL. IN 2025, THE ORGANIZATION GENERATED OVER $300,000 IN...

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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 (2025)

Revenue Breakdown

Contributions & Grants $111,868

Program Service Revenue $0

Investment Income $711

Other Revenue $95,416

TOTAL REVENUE $207,995

Expense Breakdown

Grants Paid $100,000

Salaries & Benefits $71,236

Fundraising Expenses $0

Program Expenses $171,719

Other Expenses $20,611

TOTAL EXPENSES $191,847

Year-over-Year Comparison

	2025	2024	Change
Revenue	$207,995	$217,971	0.0%
Expenses	$191,847	$460,752	-0.6%
Net Income	$16,148	$-242,781	-1.1%

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	2.00	Officer Director	$0	$0	$0
BROOKE MICKELSON	SECRETARY	0.25	Officer Director	$0	$0	$0
MEIGHAN PHILLIPS	TREASURER	1.00	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
2025	$207,995	$191,847	$297,208	$16,148
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