THE LEARNING FIRST FOUNDATION INC

EIN: 043319920 501(c)(3) Education

WORCESTER, MA

Total Revenue
$2,226,225
Total Expenses
$1,121,239
Total Assets
$23,169,628
Net Assets
$4,414,200
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
MA
Principal Officer
LEO FLANAGAN
Phone
5087997500
Tax Period
2023-07-01 to 2024-06-30

THE LEARNING FIRST FOUNDATION INC, founded in 1996, is a community nonprofit in the Education sector that reported $2.2M in total revenue in fiscal year 2023. Revenue surged 102% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 50% operating margin.

Mission

LEARNING FIRST FOUNDATION, INC. IS COMMITTED TO SUPPORTING THE LEARNING FIRST CHARTER PUBLIC SCHOOL'S EFFORTS TO IMPROVE THE QUALITY OF PUBLIC EDUCATION IN MASSACHUSETTS. LEARNING FIRST FOUNDATION WILL DO THIS BY HOLDING THE BUILDING, RAISING FUNDS, AND ENGAGING THE GREATER COMMUNITY IN ACTIVITIES TO HELP STUDENTS, FAMILIES, AND TEACHERS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $24,474
Program Service Revenue $1,327,734
Investment Income $2,266
Other Revenue $871,751
TOTAL REVENUE $2,226,225

Expense Breakdown

Grants Paid $10,188
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,056,429
Other Expenses $1,111,051
TOTAL EXPENSES $1,121,239

Year-over-Year Comparison

2023 2022 Change
Revenue $2,226,225 $1,103,299 +1.0%
Expenses $1,121,239 $582,944 +0.9%
Net Income $1,104,986 $520,355 +1.1%
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

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Governance

Voting Members
4
Independent Members
3
Employees
N/A
Volunteers
4

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
5
$580,600
Total Directors
7
$385,454
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LEO FLANAGAN SUPERINTENDENT/PRESIDENT/CHAIR 5.00
Officer Director
$0 $67,284 $256,199
ROSEMARIE FAYARD SECRETARY (UNTIL JAN. 2024) 5.00
Officer Director
$0 $39,327 $129,255
KHAM INTHIRATH CHAIR (UNTIL FEB. 2024) 1.00
Officer Director
$0 $0 $0
GILLIAN MACDONALD TRUSTEE 1.00
Director
$0 $0 $0
JASMINE HOLLIS-GADBOIS TRUSTEE 1.00
Director
$0 $0 $0
ROBERT TOTARO TREASURER 1.00
Officer Director
$0 $0 $0
ULYSSES YOUNGBLOOD TRUSTEE (UNTIL MAY 2024) 1.00
Director
$0 $0 $0
CYNTHIA KRACKOVIC DIRECTOR OF FINANCE 5.00
Officer
$16,915 $26,001 $195,146
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 $2,226,225 $1,121,239 $23,169,628 $1,104,986
2023 $1,103,299 $582,944 $43,188,475 $520,355
2022 $919,014 $332,560 $16,820,822 $586,454
2021 $888,531 $567,732 $8,815,830 $320,799
2020 $935,237 $704,331 $4,284,570 $230,906
2019 $972,747 $771,652 $5,277,829 $201,095
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