Civic Intelligence

Two Blades Foundation

EIN 56-2455310 • 501(c)3 • Evanston, IL

Profile

Scientific, research and education

1630 Chicago Avenue Suite 2401Evanston, IL 60201

2blades.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

48th percentile

0.16x

Higher debt load relative to assets than 48% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

49th percentile

0.21x

Higher debt load relative to revenue than 49% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

86th percentile

41%

Higher net margin than 86% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

84th percentile

25%

Faster asset growth than 84% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

98th percentile

302%

Faster revenue growth than 98% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$13,326,984

Up $2,695,668 (+25%) from 2023

Liabilities

Down

$2,140,530

Down $1,498,384 (-41%) from 2023

Net Assets

Up

$11,186,454

Up $4,194,052 (+60%) from 2023

Revenue

Up

$9,981,596

Up $7,500,983 (+302%) from 2023

Expenses

Up

$5,934,568

Up $2,440,741 (+70%) from 2023

Net Income

Up

$4,047,028

Up $5,060,242 (+499%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0-$5.0MAssets 2010: $1,099,772Liabilities 2010: $1,528,729Net Assets 2010: -$428,9572010Assets 2011: $940,600Liabilities 2011: $467,384Net Assets 2011: $473,2162011Assets 2012: $1,177,538Liabilities 2012: $2,007,241Net Assets 2012: -$829,7032012Assets 2013: $2,365,852Liabilities 2013: $3,105,552Net Assets 2013: -$739,7002013Assets 2014: $2,124,282Liabilities 2014: $2,295,448Net Assets 2014: -$171,1662014Assets 2015: $5,050,526Liabilities 2015: $2,218,027Net Assets 2015: $2,832,4992015Assets 2016: $6,489,906Liabilities 2016: $7,368,928Net Assets 2016: -$879,0222016Assets 2017: $16,907,250Liabilities 2017: $12,199,117Net Assets 2017: $4,708,1332017Assets 2018: $18,064,976Liabilities 2018: $10,973,229Net Assets 2018: $7,091,7472018Assets 2019: $16,255,813Liabilities 2019: $9,144,185Net Assets 2019: $7,111,6282019Assets 2020: $17,604,907Liabilities 2020: $8,585,058Net Assets 2020: $9,019,8492020Assets 2021: $11,973,096Liabilities 2021: $3,960,415Net Assets 2021: $8,012,6812021Assets 2022: $8,778,210Liabilities 2022: $162,565Net Assets 2022: $8,615,6452022Assets 2023: $10,631,316Liabilities 2023: $3,638,914Net Assets 2023: $6,992,4022023Assets 2024: $13,326,984Liabilities 2024: $2,140,530Net Assets 2024: $11,186,4542024

Highlighted filing

2024

Assets$13,326,984
Liabilities$2,140,530
Net Assets$11,186,454

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2010: $2,428,246Expenses 2010: $1,771,788Net Income 2010: $656,4582010Revenue 2011: $2,544,336Expenses 2011: $1,642,163Net Income 2011: $902,1732011Revenue 2012: $3,944,442Expenses 2012: $5,247,361Net Income 2012: -$1,302,9192012Revenue 2013: $5,207,771Expenses 2013: $5,117,768Net Income 2013: $90,0032013Revenue 2014: $4,326,527Expenses 2014: $3,757,993Net Income 2014: $568,5342014Revenue 2015: $7,903,694Expenses 2015: $4,900,029Net Income 2015: $3,003,6652015Revenue 2016: $6,941,285Expenses 2016: $10,652,806Net Income 2016: -$3,711,5212016Revenue 2017: $8,978,041Expenses 2017: $3,390,886Net Income 2017: $5,587,1552017Revenue 2018: $7,434,942Expenses 2018: $5,051,328Net Income 2018: $2,383,6142018Revenue 2019: $5,874,276Expenses 2019: $5,799,172Net Income 2019: $75,1042019Revenue 2020: $8,538,030Expenses 2020: $6,629,809Net Income 2020: $1,908,2212020Revenue 2021: $5,910,316Expenses 2021: $6,917,484Net Income 2021: -$1,007,1682021Revenue 2022: $6,470,980Expenses 2022: $5,868,016Net Income 2022: $602,9642022Revenue 2023: $2,480,613Expenses 2023: $3,493,827Net Income 2023: -$1,013,2142023Revenue 2024: $9,981,596Expenses 2024: $5,934,568Net Income 2024: $4,047,0282024

Highlighted filing

2024

Revenue$9,981,596
Expenses$5,934,568
Net Income$4,047,028

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$13.3$2.14$11.2$9.98$5.93$4.05
2023Detailed filing. Detailed filing data is available for this year.$10.6$3.64$6.99$2.48$3.49$1.01
2022Detailed filing. Detailed filing data is available for this year.$8.78$0.16$8.62$6.47$5.87$0.60
2021Detailed filing. Detailed filing data is available for this year.$12.0$3.96$8.01$5.91$6.92$1.01
2020Detailed filing. Detailed filing data is available for this year.$17.6$8.59$9.02$8.54$6.63$1.91
2019Detailed filing. Detailed filing data is available for this year.$16.3$9.14$7.11$5.87$5.80$0.08
2018Detailed filing. Detailed filing data is available for this year.$18.1$11.0$7.09$7.43$5.05$2.38
2017Detailed filing. Detailed filing data is available for this year.$16.9$12.2$4.71$8.98$3.39$5.59
2016Summary only. Only limited summary data is available for this year.$6.49$7.37$0.88$6.94$10.7$3.71
2015Summary only. Only limited summary data is available for this year.$5.05$2.22$2.83$7.90$4.90$3.00
2014Summary only. Only limited summary data is available for this year.$2.12$2.30$0.17$4.33$3.76$0.57
2013Summary only. Only limited summary data is available for this year.$2.37$3.11$0.74$5.21$5.12$0.09
2012Summary only. Only limited summary data is available for this year.$1.18$2.01$0.83$3.94$5.25$1.30
2011Summary only. Only limited summary data is available for this year.$0.94$0.47$0.47$2.54$1.64$0.90
2010Summary only. Only limited summary data is available for this year.$1.10$1.53$0.43$2.43$1.77$0.66
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 11, 2025
Return Version
2024v5.0
Gross Receipts
$9,981,596
Mission and Program Overview

Mission

Scientific, research and education

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$6,992,402$11,186,454▲ $4,194,052
Investments in Publicly Traded Securities$5,606,666$10,487,651▲ $4,880,985
Cash and Non-Interest-Bearing Accounts$2,308,846$892,783▼ $1,416,063
Accounts Receivable$95,434$666,940▲ $571,506
Total Assets$10,631,316$13,326,984▲ $2,695,668
Other Assets Total$2,620,370$1,279,610▼ $1,340,760
Liabilities
Grants Payable$2,693,516$1,250,306▼ $1,443,210
Deferred Revenue$776,716$755,831▼ $20,885
Accounts Payable and Accrued Expenses$123,934$87,329▼ $36,605
Other Liabilities$44,748$47,064▲ $2,316
Total Liabilities$3,638,914$2,140,530▼ $1,498,384
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,992,402$11,186,454▲ $4,194,052
Total Liabilities and Net Assets / Fund Balance$10,631,316$13,326,984▲ $2,695,668

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$45,937--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Diana M HorvathPresident
Appolinaire DijkengDirector
Eric WardDirector
Ken MoonieDirector
Peter VanesseDirector
Sylvia WulfDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$9,583,667
Program Service Revenue
$0
Investment Income
$470,669
Other Revenue
$-72,740
All Other Contributions
$8,844,537
Change in Net Assets
$4,047,028

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,981,596
Total Revenue per Audited Statements
$9,981,596
Total Revenue per Form 990
$9,981,596
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,943,283
Salaries, Compensation, and Employee Benefits$1,516,465
Grants and Similar Amounts Paid$1,474,820
Total Fundraising Expense$605,251
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$1,303,814--$1,303,814
Other Salaries and Wages$746,346$221,763$330,676$1,298,785
Grants to Domestic Orgs$171,006--$171,006
Travel$93,744$12,666$37,999$144,409
Insurance$88,749$19,265$28,726$136,740
Advertising--$134,953$134,953
Pension Plan Contributions$73,138$22,176$33,068$128,382
Payroll Taxes$54,094$14,611$20,593$89,298
Occupancy$30,495$15,251$10,800$56,546
Conferences and Meetings$9,442$31,057-$40,499
Fees for Services Other$7,175$33,104-$40,279
Fees for Service Investment Mgmnt Fees-$32,184-$32,184
Office Expenses$7,654$4,687$5,732$18,073
Fees for Services Accounting-$17,934-$17,934
Fees for Services Legal$13,513--$13,513
Other Expenses$3,611$1,813$2,704$8,128
All Other Expenses$1,117--$1,117
Total Functional Expenses$4,902,806$426,511$605,251$5,934,568

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,934,568
Total Expenses per Audited Statements$5,934,568
Total Expenses per Form 990$5,934,568
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of MinnesotaMinneapolis, MN-Research$171,006

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$47,064
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

50% of the board of directors sign the state return which has a copy of this 990 attached.

Form 990, Page 6, Part VI, Line 19

UPON WRITTEN REQUEST.

Filing and Contact Details

Filer

Filer Name
Two Blades Foundation
EIN
56-2455310
Phone
8474251277
Address
1630 CHICAGO AVENUE SUITE 2401, EVANSTON, IL 60201

Signing Officer

Name
Diana M Horvath
Title
President
Phone
8474251277
Signed
2025-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diana M Horvath
Formed
2004
Legal Domicile
De
Voting Board Members
6
Independent Board Members
5
Employees
11

Preparer

Firm
Rozovics Group Llp
Address
805 W TOUHY AVE, PARK RIDGE, IL 60068
Preparer
Susan M Huizinga
Phone
8476997600
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DIANA M HORVATH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08474251277
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TWO BLADES FOUNDATION
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROZOVICS GROUP LLP
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PARK RIDGE
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ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUSAN M HUIZINGA
ReturnHeader/ReturnTs02025-11-11T13:37:06-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01

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