TRUTH INITIATIVE FOUNDATION (EIN 911956621) - 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

1999

Legal Domicile

Principal Officer

KATHLEEN CROSBY

Phone

2024545555

Tax Period

2023-07-01 to 2024-06-30

TRUTH INITIATIVE FOUNDATION, founded in 1999, is a mid-sized nonprofit in the Mental Health sector that reported $73.1M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $107.3M exceeded revenue, resulting in a 47% operating deficit.

Mission

TRUTH INITIATIVE'S MISSION IS TO ACHIEVE A CULTURE WHERE YOUNG PEOPLE REJECT SMOKING, VAPING, AND NICOTINE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $5,075,795

Program Service Revenue $1,491,288

Investment Income $66,577,404

Other Revenue $124

TOTAL REVENUE $73,144,611

Expense Breakdown

Grants Paid $1,448,704

Salaries & Benefits $26,552,030

Fundraising Expenses $62,560

Program Expenses $89,153,969

Other Expenses $79,280,337

TOTAL EXPENSES $107,342,211

Year-over-Year Comparison

	2023	2022	Change
Revenue	$73,144,611	$59,245,878	+0.2%
Expenses	$107,342,211	$116,909,770	-0.1%
Net Income	$-34,197,600	$-57,663,892	-0.4%

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

212

Volunteers

295

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

$2,311,178

Total Directors

Key Employees

$522,122

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HON MIKE MOORE	CHAIR SINCE 5/2017	6.00	Officer Director	$0	$0	$0
NANCY BROWN	VICE CHAIR SINCE 12/2017	6.00	Officer Director	$0	$0	$0
HON JOSH STEIN	TREASURER THRU 5/2024	6.00	Officer Director	$0	$0	$0
MARY T BASSETT MD MPH	DIRECTOR	5.00	Director	$0	$0	$0
GEORGES C BENJAMIN MD	DIRECTOR THRU 2/2024	5.00	Director	$0	$0	$0
HON HERB CONAWAY MD	DIRECTOR THRU 2/2024	5.00	Director	$0	$0	$0
HON SPENCER J COX	DIRECTOR	5.00	Director	$0	$0	$0
HON JAMES DUNNIGAN	DIRECTOR	5.00	Director	$0	$0	$0
HOWARD K KOH MD MPH	DIRECTOR	5.00	Director	$0	$0	$0
HON MARTIN JACKLEY	DIRECTOR	5.00	Director	$0	$0	$0
JANET T MILLS	DIRECTOR	5.00	Director	$0	$0	$0
STEVE OYER	DIRECTOR	5.00	Director	$0	$0	$0
ROBIN KOVAL	PRESIDENT & CEO THRU 10/2023	37.50	Officer	$929,147	$53,517	$982,664
KATHLEEN CROSBY	PRESIDENT & CEO	37.50	Officer	$119,715	$11,285	$131,000
ANTHONY T O'TOOLE	EVP/CFIO	37.50	Officer	$581,069	$166,497	$747,566
ROBERT FALK	GEN. COUNSEL/CORP. SECRETARY	37.50	Officer	$370,526	$79,422	$449,948
ELIZABETH KENNY	CHIEF MKTG & STRAT OFF.	37.50	Key Emp	$442,674	$79,448	$522,122
PATRICIA KENNEY	CHIEF COMMUNICATIONS OFFICER	37.50	Highest	$342,953	$90,942	$433,895
RALPH LOGAN	SENIOR VICE PRESIDENT, MARKETING	37.50	Highest	$336,275	$56,255	$392,530
BARBARA SCHILLO	CHIEF RESEARCH OFFICER	37.50	Highest	$307,572	$82,437	$390,009
AMANDA GRAHAM	CHIEF OF INNOVATIONS & RESEARCH	37.50	Highest	$323,657	$56,182	$379,839
ANNA SPRIGGS	CHIEF OF HUMAN RESOURCES & ADMIN.	37.50	Highest	$304,328	$69,420	$373,748
M DAVID DOBBINS	FORMER COO	37.50		$177,014	$47,911	$224,925
DONNA VALLONE	FORMER CHIEF RESEARCH OFFICER	37.50		$165,608	$24,828	$190,436

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	$73,144,611	$107,342,211	$711,724,975	$-34,197,600
2023	$59,245,878	$116,909,770	$764,347,458	$-57,663,892
2022	$111,718,749	$118,089,967	$833,593,516	$-6,371,218
2021	$92,158,475	$98,704,313	$1,008,096,015	$-6,545,838
2020	$57,705,985	$109,295,633	$853,605,796	$-51,589,648
2019	$98,736,487	$104,980,089	$922,385,220	$-6,243,602

TRUTH INITIATIVE FOUNDATION