WORTHLESS FOUNDATION INC (EIN 834240559) - 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

2019

Legal Domicile

Principal Officer

NEIL HAMAMOTO

Phone

9175763999

Tax Period

2024-01-01 to 2024-12-31

WORTHLESS FOUNDATION INC, founded in 2019, is a small nonprofit in the Arts, Culture & Humanities sector that reported $978K in total revenue in fiscal year 2024. Revenue surged 33% from the prior year, signaling strong growth momentum. Expenses of $889K left a modest 9% surplus.

Mission

TO PROMOTE THE ARTS AND PROVIDE SUPPORT TO NEW, ASPIRING, OR EMERGING ARTISTS.

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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 $312,467

Program Service Revenue $55,388

Investment Income $583,101

Other Revenue $26,650

TOTAL REVENUE $977,606

Expense Breakdown

Grants Paid $0

Salaries & Benefits $277,978

Fundraising Expenses $46,353

Program Expenses $358,290

Other Expenses $610,928

TOTAL EXPENSES $888,906

Year-over-Year Comparison

	2024	2023	Change
Revenue	$977,606	$733,409	+0.3%
Expenses	$888,906	$2,110,083	-0.6%
Net Income	$88,700	$-1,376,674	-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

N/A

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

$17,704

Total Directors

$17,704

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NEIL HAMAMOTO	FOUNDER,PRESIDENT,CREATIVE DIRECTOR	30.00	Officer Director	$0	$17,704	$17,704
DAVID HAMAMOTO	VICE PRESIDENT	0.25	Officer Director	$0	$0	$0
MIKE FORMAN	TREASURER	0.25	Officer Director	$0	$0	$0
JORDAN HUELSKAMP	SECRETARY	0.25	Officer Director	$0	$0	$0
ANN HARAKAWA	BOARD MEMBER	0.25	Director	$0	$0	$0
CHARLIE JARVIS	BOARD MEMBER	0.25	Director	$0	$0	$0
ALLEN MURABAYASHI	BOARD MEMBER	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	$977,606	$888,906	$6,115,991	$88,700
2024	$977,606	$888,906	$6,115,991	$88,700
2023	$733,409	$2,110,083	$9,011,506	$-1,376,674
2022	$662,563	$1,741,558	$9,141,108	$-1,078,995
2021	$6,977,240	$635,168	$10,452,954	$6,342,072
2020	$860,043	$146,758	$757,758	$713,285
2019	$165,435	$135,817	$57,905	$29,618

WORTHLESS FOUNDATION INC