Newburyport Education Foundation I… - Form 990 Financial Data

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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

2000

Legal Domicile

Principal Officer

Andrea Weetman

Phone

9784637893

Tax Period

2023-01-01 to 2023-12-31

Newburyport Education Foundation Inc, founded in 2000, is a small nonprofit in the Education sector that reported $307K in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year. Expenses of $401K exceeded revenue, resulting in a 30% operating deficit.

Program Service Accomplishments

Program 1

Expenses: $30,369 Revenue: $0

In 2023, we continued our STEM initiative by supporting additional equipment and supplies at the Breshanan, Nock and Molin Schools. The STEM initiative also was implemented in the High School via...

In 2023, we continued our STEM initiative by supporting additional equipment and supplies at the Breshanan, Nock and Molin Schools. The STEM initiative also was implemented in the High School via grants for equipment including 3D printers, robots and industrial sewing equipment. This program allows our students to enhance their education in science, technology, engineering and math.

Program 2

Expenses: $29,314 Revenue: $0

During 2023, we supported improvements in technology in several disciplines within the district. Some highlights include Chromebooks and Chromebook Carts for the Breshahan school and an auditorium...

During 2023, we supported improvements in technology in several disciplines within the district. Some highlights include Chromebooks and Chromebook Carts for the Breshahan school and an auditorium projector at the Nock and Molin schools. Through these grants, we strive to provide the technology necessary for learning.

Program 3

Expenses: $25,815 Revenue: $0

In 2023, business leaders and teachers came together to create some amazing learning experiences for our students funded by partnership grants, the technology club at the high school and the Gulf of...

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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 $173,448

Program Service Revenue $0

Investment Income $21,736

Other Revenue $112,242

TOTAL REVENUE $307,426

Expense Breakdown

Grants Paid $304,783

Salaries & Benefits $66,783

Fundraising Expenses $4,607

Program Expenses $304,783

Other Expenses $29,514

TOTAL EXPENSES $401,080

Year-over-Year Comparison

	2023	2022	Change
Revenue	$307,426	$324,441	-0.1%
Expenses	$401,080	$377,359	+0.1%
Net Income	$-93,654	$-52,918	+0.8%

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

Volunteers

150

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

$61,606

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Brian Callahan	Director	1.00	Director	$0	$0	$0
Aaron Smith	Director	1.00	Director	$0	$0	$0
Nick DeKanter	Director	1.00	Director	$0	$0	$0
Ray Felts	Director	1.00	Director	$0	$0	$0
Sean Gallagher	Director	1.00	Director	$0	$0	$0
Olivia Hansen	Director	1.00	Director	$0	$0	$0
Lisa Marie Ippolito	Director	1.00	Director	$0	$0	$0
Mariana Lynch	Director	1.00	Director	$0	$0	$0
Matt McCann	Director	1.00	Director	$0	$0	$0
Nicole Nadeau	Director	1.00	Director	$0	$0	$0
Stephen D'Ambrosio	Director	1.00	Director	$0	$0	$0
Deb Pare	Director	1.00	Director	$0	$0	$0
Kathleen Petrie	Director	1.00	Director	$0	$0	$0
Alissa Cough	Director	1.00	Director	$0	$0	$0
Sam Hartford	Director	1.00	Director	$0	$0	$0
Lizzy Homer	Director	1.00	Director	$0	$0	$0
Kristin Spinney	Director	1.00	Director	$0	$0	$0
Andrew Wulf	Director	1.00	Director	$0	$0	$0
Kristine Enes	Director	1.00	Director	$0	$0	$0
Lisa Langis	Director	1.00	Director	$0	$0	$0
Allie Morris	Director	1.00	Director	$0	$0	$0
Rosemary Turgeon	Director	1.00	Director	$0	$0	$0
Carrie O'Donnell	Executive Director	2.00	Officer	$61,606	$0	$61,606
Andrea Weetman	President	2.00	Officer Director	$0	$0	$0
David Marroncelli	Treasurer	2.00	Officer Director	$0	$0	$0
Cindy Johnson	Clerk	2.00	Officer Director	$0	$0	$0
Barb Bailey	Secretary	2.00	Officer 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	No data	No data	No data	No data
2023	$307,426	$401,080	$1,803,178	$-93,654
2022	$324,441	$377,359	$1,747,139	$-52,918
2021	$1,097,096	$235,052	$2,058,128	$862,044
2020	$360,286	$299,391	$1,102,439	$60,895
2019	$407,784	$361,796	$977,750	$45,988
2018	$262,219	$252,779	$873,357	$9,440

Newburyport Education Foundation Inc