Heritage Square Foundation

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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

1979

Legal Domicile

Principal Officer

Tobias Hogan

Phone

6026995994

Tax Period

2024-07-01 to 2025-06-30

Heritage Square Foundation, founded in 1979, is a small nonprofit in the Arts, Culture & Humanities sector that reported $484K in total revenue in fiscal year 2024. Revenue surged 20% from the prior year, signaling strong growth momentum.

Mission

Cultivating meaningful connections rooted in Phoenix history and our community to inspire personal growth through shared memorable experiences.

Program Service Accomplishments

Program 1

Expenses: $353,663 Revenue: $55,424

Tours and Exhibits: We offered standard and specialty tours of the Rosson House and outdoor tours serving 10,264 visitors and generating $40,535 in admissions revenue. We presented permanent and...

Tours and Exhibits: We offered standard and specialty tours of the Rosson House and outdoor tours serving 10,264 visitors and generating $40,535 in admissions revenue. We presented permanent and pop-up exhibits in the museum, visitor center, and community events, expanding historical engagement. Programs and Events: Our annual theme explored science fiction, attracting 4,991 attendees. School field trips and traveling trunks reached 633 students. Community Engagement:We participated in Blue Star Museums, Museums For All, two free community festivals and Teacher Appreciation Week serving 132 individuals. We also participated in national Museum Social Impact Study.City-facilitated events, event rentals, and tenant activities further activiated Heritage Square, drawing thousands more visitors. We are grateful to our supporters for helping us communicate history, foster connections, and create an inclusive cultural space in downtown Phoenix.

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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 $172,909

Program Service Revenue $110,211

Investment Income $3,961

Other Revenue $197,374

TOTAL REVENUE $484,455

Expense Breakdown

Grants Paid $0

Salaries & Benefits $321,587

Fundraising Expenses $10,236

Program Expenses $353,663

Other Expenses $159,941

TOTAL EXPENSES $481,528

Year-over-Year Comparison

	2024	2023	Change
Revenue	$484,455	$403,354	+0.2%
Expenses	$481,528	$447,514	+0.1%
Net Income	$2,927	$-44,160	-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

$66,060

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kari Carlisle	Executive Director	40.00	Officer	$66,060	$0	$66,060
Tobias Hogan	President	2.00	Officer Director	$0	$0	$0
Kevin Lozier	Vice President	2.00	Officer Director	$0	$0	$0
Laura Read	Director	2.00	Director	$0	$0	$0
Jerry Cook	Director	2.00	Director	$0	$0	$0
Andrew Abraham	Director	2.00	Director	$0	$0	$0
Gayle Simmons	Treasurer	2.00	Officer Director	$0	$0	$0
Jody Moon	Secretary	2.00	Officer 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	$484,455	$481,528	$198,891	$2,927
2024	No data	No data	No data	No data
2023	$290,839	$363,015	$186,260	$-72,176
2022	$428,332	$334,599	$201,275	$93,733
2021	$200,736	$291,606	$147,912	$-90,870
2020	$380,403	$423,759	$214,403	$-43,356
2019	$422,888	$475,950	$144,927	$-53,062