Foundation for Continuing Education Inc (EIN 042629472) - 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

1977

Legal Domicile

Principal Officer

Richard Solano

Phone

9784686528

Tax Period

2023-11-01 to 2024-10-31

Foundation for Continuing Education Inc, founded in 1977, is a micro nonprofit that reported $63K in total revenue in fiscal year 2023. Expenses of $76K exceeded revenue, resulting in a 21% operating deficit.

Mission

Conducts Seminars, Workshops, meetings, training events, team building activities, provides program materials to the professional business community including the Massachusetts Law Libraries and cooperates with organizations such as theUS SBANE, IRS, MASS DOR, and professional societies to provide awareness of tax,legal,and other issues of importanceto the Business, Tax and Legal communities.

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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 $0

Program Service Revenue $71,596

Investment Income $-8,904

Other Revenue $0

TOTAL REVENUE $62,692

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $64,718

Other Expenses $76,141

TOTAL EXPENSES $76,141

Year-over-Year Comparison

	2023	2022	Change
Revenue	$62,692	$58,213	+0.1%
Expenses	$76,141	$46,398	+0.6%
Net Income	$-13,449	$11,815	-2.1%

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

N/A

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Richard Solano CPA	Pres. Treas & Director	10.00	Officer Director	$0	$0	$0
Earle Solano Esq	Sec/Clerk & Director	10.00	Director	$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
2024	$62,692	$76,141	$999,732	$-13,449
2023	$58,213	$46,398	$1,013,172	$11,815
2022	$-18,933	$27,735	$1,001,357	$-46,668
2021	$242,195	$22,728	$1,048,024	$219,467

Foundation for Continuing Education Inc