THE INNER-CITY FOUNDATION FOR CHAR… - 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

1991

Legal Domicile

Principal Officer

RICHARD T STONE

Phone

2034161363

Tax Period

2021-07-01 to 2022-06-30

THE INNER-CITY FOUNDATION FOR CHARITY & EDUCATION INC, founded in 1991, is a micro nonprofit that reported $39K in total revenue in fiscal year 2021. Revenue fell 97% from the prior year — a significant decline worth monitoring. Expenses of $768K exceeded revenue, resulting in a 1866% operating deficit.

Mission

TO PROVIDE FINANCIAL SUPPORT TO AGENCIES AND INSTITUTIONS WHOSE PROGRAMS SERVE AT-RISK CHILDREN AND FAMILIES IN FAIRFIELD COUNTY.

Program Service Accomplishments

Program 1

Expenses: $500,000

ENHANCE AND STRENGTHEN EDUCATIONAL OPPORTUNITIES AND INSTITUTIONS IN FAIRFIELD COUNTY, CONNECTICUT. PROVIDE SUPPORT AND COMMUNITY RESOURCES IN RESPONDING TO CHARITABLE OBJECTIVES. SUPPORTS AGENCIES WHOSE PROGRAMS SERVE THE NEEDS OF EDUCATIONALLY AND CULTURALLY DISADVANTAGED CHILDREN, ADULTS AND SENIOR CITIZENS LIVING IN FAIRFIELD COUNTY.

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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 (2021)

Revenue Breakdown

Contributions & Grants $38,621

Program Service Revenue $0

Investment Income $0

Other Revenue $430

TOTAL REVENUE $39,051

Expense Breakdown

Grants Paid $500,000

Salaries & Benefits $115,556

Fundraising Expenses $0

Program Expenses $500,000

Other Expenses $152,233

TOTAL EXPENSES $767,789

Year-over-Year Comparison

	2021	2020	Change
Revenue	$39,051	$1,478,572	-1.0%
Expenses	$767,789	$5,485,745	-0.9%
Net Income	$-728,738	$-4,007,173	-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

N/A

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

$220,547

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDWARD J CAFFREY	DIRECTOR	1.00	Director	$0	$0	$0
AUDREY DORNIER	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD J MATTEIS	DIRECTOR	1.00	Director	$0	$0	$0
PAMELA S PAGNANI ESQ	DIRECTOR	1.00	Director	$0	$0	$0
JEANNE GALLAGHER TERRILE	DIRECTOR	1.00	Director	$0	$0	$0
KAREN B SCHWARZ	EXECUTIVE DIRECTOR & DIREC	40.00	Officer	$119,705	$31,673	$151,378
RICHARD T STONE	EXECUTIVE ADVISOR	20.00	Officer	$69,169	$0	$69,169

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
2022	$39,051	$767,789	$142,354	$-728,738
2022	$3,598	$145,952	No data	$-142,354
2021	$1,478,572	$5,486,435	$871,092	$-4,007,863
2020	$1,191,508	$1,900,120	$6,406,660	$-708,612
2019	$957,777	$1,092,827	$7,620,184	$-135,050
2018	$1,193,760	$1,188,834	$7,734,557	$4,926

THE INNER-CITY FOUNDATION FOR CHARITY & EDUCATION INC