Heartland Forward Inc

Nonprofit profile at a glance

EIN
842515642
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Bentonville, AR, USA
Phone
4794641570
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Research Institutes and Public Policy Analysis

Official website

Reported finances

Revenue
$11,882,702
Expenses
$12,640,759
Assets
$6,426,256
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • ROSS DeVOL (BOARD DIRECTOR, PRESIDENT)

People named in this filing

  • BUDDY D PHILPOT (DIRECTOR, SECRETARY)
  • Michael Malone (BOARD DIRECTOR, TREASURER)
  • ROSS DeVOL (BOARD DIRECTOR, PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

A think and do tank dedicated to being a resource for states and communities - helping to advance the economic opportunity in the heartland.

What it reported doing in 2024

To improve the economic performance in the center of the u.s by advocating for fact-based solutions to foster job creation, knowledge-based and inclusive growth, and improved health outcomes.

Operating model

Revenue model
Donor-supported. 78% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 91% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 96
  • Accountability: 100
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71%; rating input score 71
  • Program expense ratio: 66.7%; rating input score 67
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.4%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.51; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 30.7% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 32.6% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 41.8% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 71% of revenue deployed · 66.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $8.4M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Highest-paid contractors: 5 contractors listed · $9.1M reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 17 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 14/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.