Colorado Thrives

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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

Christine Heitz

Phone

3039468072

Tax Period

2025-01-01 to 2025-12-31

Colorado Thrives, founded in 2019, is a small nonprofit in the Community Improvement sector that reported $626K in total revenue in fiscal year 2025. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $713K exceeded revenue, resulting in a 14% operating deficit.

Mission

Colorado Thrives exists to support Coloradans to achieve economic mobility through access to good jobs.

Program Service Accomplishments

Program 1

Expenses: $536,206

Partnership with workforce development, community, and private sector organizations to provide technical expertise, funding, insight, and member support in service of training, mentorship...

Partnership with workforce development, community, and private sector organizations to provide technical expertise, funding, insight, and member support in service of training, mentorship, community-responsive solutions, and expanded workforce pathways.

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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 $626,043

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $626,043

Expense Breakdown

Grants Paid $7,000

Salaries & Benefits $568,835

Fundraising Expenses $31,235

Program Expenses $536,206

Other Expenses $136,866

TOTAL EXPENSES $712,701

Year-over-Year Comparison

	2025	2024	Change
Revenue	$626,043	$497,226	+0.3%
Expenses	$712,701	$430,487	+0.7%
Net Income	$-86,658	$66,739	-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

$361,640

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mike Fries	Vice Chair	1.00	Officer Director	$0	$0	$0
Dan Caruso	Treasurer	1.00	Officer Director	$0	$0	$0
Jim Kelly	Director	1.00	Director	$0	$0	$0
Jandel Allen-Davis MD	Director	1.00	Director	$0	$0	$0
Robert Cohen	Director	1.00	Director	$0	$0	$0
Steven Cohen	Co-Chair	2.00	Officer Director	$0	$0	$0
Javier Rodriguez	Director	1.00	Director	$0	$0	$0
Rob Painter	Director	1.00	Director	$0	$0	$0
Jim Rechtin	Co-Chair	2.00	Officer Director	$0	$0	$0
David Sadoff	Director	1.00	Director	$0	$0	$0
Andrew Gaasch	Director	1.00	Director	$0	$0	$0
Brad Jeanneret	Director	1.00	Director	$0	$0	$0
David Layton	Director	1.00	Director	$0	$0	$0
Ivo Jurek	Director	1.00	Director	$0	$0	$0
Jonathan Gear	Director	1.00	Director	$0	$0	$0
Sureel Choksi	Director	1.00	Director	$0	$0	$0
Bryan Leach	Director	1.00	Director	$0	$0	$0
Bijal Shah	Director	1.00	Director	$0	$0	$0
Kent Thiry	Director	1.00	Director	$0	$0	$0
Christine Heitz	CEO	40.00	Officer	$361,640	$0	$361,640

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	$626,043	$712,701	$135,351	$-86,658
2025	$626,043	$712,701	$135,351	$-86,658
2025	$626,043	$712,701	$135,351	$-86,658
2024	$497,226	$430,487	$222,034	$66,739
2023	$370,000	$641,368	$156,820	$-271,368
2022	$355,000	$331,521	$427,354	$23,479
2021	$672,797	$427,777	$403,695	$245,020
2020	$225,000	$233,550	$156,425	$-8,550