North Bennet Street School

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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

1885

Legal Domicile

Principal Officer

Dr Sarah B Cunningham

Phone

6172270155

Tax Period

2024-08-01 to 2025-07-31

North Bennet Street School, founded in 1885, is a community nonprofit in the Education sector that reported $9.4M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Net assets of $58.6M represent 75 months of operating reserves.

Mission

The mission of North Bennet Street School is to train students for careers in traditional trades that use hand skills in concert with evolving technology, to preserve and advance craft traditions, and to promote greater appreciation of craftsmanship.

Program Service Accomplishments

Program 1

Expenses: $551,428 Revenue: $871,124

Cabinet and Furniture Making - Full time trade program in cabinet and furniture making.

Program 2

Expenses: $453,076 Revenue: $730,238

Carpentry - Full time trade program in carpentry.

Program 3

Expenses: $424,195 Revenue: $488,299

Preservation Carpentry - Full time trade program in preservation carpentry.

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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 $3,407,909

Program Service Revenue $4,979,876

Investment Income $996,496

Other Revenue $30,496

TOTAL REVENUE $9,414,777

Expense Breakdown

Grants Paid $1,218,585

Salaries & Benefits $5,068,401

Fundraising Expenses $680,819

Program Expenses $6,021,638

Other Expenses $3,779,647

TOTAL EXPENSES $10,066,633

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,414,777	$10,360,938	-0.1%
Expenses	$10,066,633	$9,992,760	+0.0%
Net Income	$-651,856	$368,178	-2.8%

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

125

Volunteers

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

$445,776

Total Directors

$273,861

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Sarah Turner	Past President	40.00	Officer Director	$244,409	$29,452	$273,861
Thomas Piemonte	Chair	1.00	Officer Director	$0	$0	$0
Vaughn Waters	Vice Chair	1.00	Officer Director	$0	$0	$0
William Iselin	Treasurer	1.00	Officer Director	$0	$0	$0
Mark Hauser	Clerk	1.00	Officer Director	$0	$0	$0
Bexx Caswell	Director	1.00	Director	$0	$0	$0
Bruce Dayton	Director	1.00	Director	$0	$0	$0
Daniel Day Lewis	Director	1.00	Director	$0	$0	$0
Brent Hull	Director	1.00	Director	$0	$0	$0
Rob Leahy	Director	1.00	Director	$0	$0	$0
Marc Margulies	Director	1.00	Director	$0	$0	$0
James Mason	Director	1.00	Director	$0	$0	$0
Kevin McCaskill	Director	1.00	Director	$0	$0	$0
Patrick Muecke	Director	1.00	Director	$0	$0	$0
Paul Reidt	Director	1.00	Director	$0	$0	$0
Norma Rey-Alicea	Director	1.00	Director	$0	$0	$0
Juliana Wong	Director	1.00	Director	$0	$0	$0
Geneva Thorndike	Past Chair	1.00	Officer Director	$0	$0	$0
Lindsa McIntyre	Past Vice Chair	1.00	Officer Director	$0	$0	$0
Matthew Day	Past Treasurer	1.00	Officer Director	$0	$0	$0
William Hettinger	Past Director	1.00	Director	$0	$0	$0
Deb Pasculano	Past Director	1.00	Director	$0	$0	$0
Claire Fruitman	Provost & Interim President	40.00	Officer	$142,655	$29,260	$171,915
Gayle Magazzu	Controller	40.00	Officer	$0	$0	$0
Colleen Walsh Powell	Development Director	40.00	Highest	$140,891	$28,366	$169,257
Catherine Canney	Past Director of Operations	40.00	Highest	$126,925	$21,970	$148,895
Robert O'Dwyer	Admissions Director	40.00	Highest	$118,533	$4,162	$122,695
Kevin Derrick	Marketing Director	40.00	Highest	$116,105	$4,600	$120,705
Peter Smith	Carpentry Department Head	35.00	Highest	$111,959	$3,997	$115,956

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	$9,414,777	$10,066,633	$59,642,763	$-651,856
2024	$10,360,938	$9,992,760	$57,839,455	$368,178
2023	$7,863,488	$8,698,215	$55,094,149	$-834,727
2022	$9,003,020	$7,891,966	$54,825,657	$1,111,054
2021	$8,454,312	$6,833,843	$57,772,831	$1,620,469
2020	$6,946,980	$6,702,652	$52,652,761	$244,328
2019	$10,188,965	$6,660,061	$51,658,000	$3,528,904
2018	$14,201,453	$6,301,239	$47,361,345	$7,900,214