NOVAWORKS 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

1989

Legal Domicile

Principal Officer

Marlena Sessions

Phone

4087307232

Tax Period

2023-07-01 to 2024-06-30

NOVAWORKS FOUNDATION, founded in 1989, is a small nonprofit that reported $114K in total revenue in fiscal year 2023. Expenses of $237K exceeded revenue, resulting in a 108% operating deficit.

Mission

Develop programs that advance economic stability.

Program Service Accomplishments

Program 1

Expenses: $236,809 Revenue: $113,671

The NOVAworks Foundation focused on workplace preparation for underserved youth, including career exploration and registering for work experience opportunities.

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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 $113,671

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $113,671

Expense Breakdown

Grants Paid $18,323

Salaries & Benefits $79,012

Fundraising Expenses $0

Program Expenses $236,809

Other Expenses $139,474

TOTAL EXPENSES $236,809

Year-over-Year Comparison

	2023	2022	Change
Revenue	$113,671	$108,840	+0.0%
Expenses	$236,809	$13,076	+17.1%
Net Income	$-123,138	$95,764	-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

N/A

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
Dennis Cima	President	0	Director	$0	$0	$0
Frank Benest	Board Member	0	Director	$0	$0	$0
Stephen Levy	Board Member	0	Director	$0	$0	$0
Jennifer Morrill	Board Member	0	Director	$0	$0	$0
Hilary Goodkind	Board Member	0	Director	$0	$0	$0
Michelle Nemits	Board Member	0	Director	$0	$0	$0
Marlena Sessions	Secretary-Treasurer	4.00	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
2025	No data	No data	No data	No data
2024	$113,671	$236,809	$1,094,256	$-123,138
2023	$108,840	$13,076	$1,217,394	$95,764
2022	$886,999	$22,645	$1,121,630	$864,354