Rule of Law Trust (EIN 831047727) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2018

Legal Domicile

Principal Officer

Leonard Leo

Phone

5403418808

Tax Period

2023-01-01 to 2023-12-31

Rule of Law Trust, founded in 2018, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2020. Revenue decreased 15% compared to the prior year. Expenses of $38.4M exceeded revenue, resulting in a 2474% operating deficit.

Mission

To advance conservative principles and causes through communications, research, strategy and assistance to other organizations.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $3,065,418

Other Revenue $0

TOTAL REVENUE $3,065,418

Expense Breakdown

Grants Paid $28,335,541

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $29,333,972

Other Expenses $2,044,076

TOTAL EXPENSES $30,379,617

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,065,418	$2,275,161	+0.3%
Expenses	$30,379,617	$11,168,424	+1.7%
Net Income	$-27,314,199	$-8,893,263	+2.1%

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

N/A

Volunteers

N/A

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

$600,000

Total Directors

$600,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Leonard Leo	Trustee	6	Officer Director	$0	$0	$600,000

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	$3,065,418	$30,379,617	$170,124,340	$-27,314,199
2022	$2,275,161	$11,168,424	$187,864,450	$-8,893,263
2021	$160,580,040	$4,799,057	$202,362,093	$155,780,983
2020	$1,493,794	$38,447,824	$52,683,753	$-36,954,030

Rule of Law Trust