HAPPY LUNGS PROJECT

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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

2021

Legal Domicile

Principal Officer

NED STEWART

Phone

5123379352

Tax Period

2024-01-01 to 2024-12-31

HAPPY LUNGS PROJECT, founded in 2021, is a small nonprofit in the Medical Research sector that reported $555K in total revenue in fiscal year 2024. Revenue surged 53% from the prior year, signaling strong growth momentum. Expenses of $632K exceeded revenue, resulting in a 14% operating deficit.

Mission

TO SUPPORT RESEARCHERS AND CLINICIANS IN THEIR WORK TOWARD FINDING A CURE FOR RET POSITIVE NON-SMALL CELL LUNG CANCER, WHILE PROVIDING HELPFUL INFORMATION TO EMPOWER EACH PATIENT IN THEIR OWN HEALING.

Program Service Accomplishments

Program 1

Expenses: $538,608

PROVIDE SUPPORT FOR RESEARCHERS AND CLINICIANS IN FINDING A CURE, RAISING AWARENESS ABOUT TESTING METHODS FOR EARLY DETECTION OF NSCLC MUTATIONS, DEVELOPING INDIVIDUALIZED THERAPIES BASED UPON NEW...

PROVIDE SUPPORT FOR RESEARCHERS AND CLINICIANS IN FINDING A CURE, RAISING AWARENESS ABOUT TESTING METHODS FOR EARLY DETECTION OF NSCLC MUTATIONS, DEVELOPING INDIVIDUALIZED THERAPIES BASED UPON NEW TESTING AND DIAGNOSTICS, INCLUDING METHODS TO COMBAT DEVELOPMENT OF TARGETED THERAPY RESISTANCE, DETERMINING IF EXISTING PHARMACEUTICALS CAN BE REPURPOSED OR COMBINED WITH OTHER TREATMENTS TO PROVIDE EFFECTIVE, NOVEL TREATMENTS, AND DEVELOPING NEW IMMUNOTHERAPIES WHICH CAN BE USED IN CONJUNCTION WITH EXISTING TREATMENTS, OR EMPLOYED AS PRIMARY THERAPY.

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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 $554,878

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $554,878

Expense Breakdown

Grants Paid $467,607

Salaries & Benefits $86,783

Fundraising Expenses $89,904

Program Expenses $538,608

Other Expenses $77,737

TOTAL EXPENSES $632,127

Year-over-Year Comparison

	2024	2023	Change
Revenue	$554,878	$362,802	+0.5%
Expenses	$632,127	$624,272	+0.0%
Net Income	$-77,249	$-261,470	-0.7%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NED STEWART	TREASURER	2.00	Officer Director	$0	$0	$0
ILANA STROMBERG	SECRETARY	2.00	Officer Director	$0	$0	$0
MARK STRAMA	CHAIRMAN	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	No data	No data	No data	No data
2024	$554,878	$632,127	$389,228	$-77,249
2023	$362,802	$624,272	$466,477	$-261,470
2022	$922,265	$301,703	$727,948	$620,562
2021	$216,750	$109,364	$107,386	$107,386