Heartland Forward Inc (EIN 842515642) - 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

Phone

4794641570

Tax Period

2024-01-01 to 2024-12-31

Heartland Forward Inc, founded in 2018, is a small nonprofit in the Community Improvement sector that reported $837K in total revenue in fiscal year 2020. The organization ran a surplus of $296K, a strong 35% operating margin.

Mission

A think and do tank dedicated to being a resource for states and communities - helping to advance the economic opportunity in the heartland.

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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 (2024)

Revenue Breakdown

Contributions & Grants $11,867,202

Program Service Revenue $0

Investment Income $15,500

Other Revenue $0

TOTAL REVENUE $11,882,702

Expense Breakdown

Grants Paid $771,725

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $8,432,535

Other Expenses $11,869,034

TOTAL EXPENSES $12,640,759

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,882,702	$15,261,912	-0.2%
Expenses	$12,640,759	$10,868,770	+0.2%
Net Income	$-758,057	$4,393,142	-1.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BUDDY D PHILPOT	DIRECTOR, SECRETARY	2.0	Officer Director	$0	$0	$0
Michael Malone	BOARD DIRECTOR, TREASURER	2.0	Officer Director	$0	$0	$0
ROSS DeVOL	BOARD DIRECTOR, PRESIDENT	40.0	Officer Director	$0	$0	$0
OLIVIA WALTON	BOARD DIRECTOR	2.0	Director	$0	$0	$0
ANGIE COOPER	CHIEF PROGRAM OFFICER	35.0	Officer	$0	$0	$0
BLAKE WOOLSEY	CHIEF COMMUNICATIONS AND DEVELOPMENT	40.0	Officer	$0	$0	$0
DAVE SHIDELER	CHIEF RESEARCH OFFICER	40.0	Officer	$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	$11,882,702	$12,640,759	$6,426,256	$-758,057
2023	$15,261,912	$10,868,770	$7,184,313	$4,393,142
2022	$10,819,582	$11,129,013	$2,791,171	$-309,431
2021	$9,900,502	$7,095,575	$3,100,602	$2,804,927
2020	$837,132	$541,457	$296,675	$295,675

Heartland Forward Inc