THE JOE AND KAY CALVANESE FOUNDATION INC (EIN 061454120) - 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

1996

Legal Domicile

Principal Officer

JOSEPH J CALVANESE JR

Phone

8606212123

Tax Period

2024-01-01 to 2024-12-31

THE JOE AND KAY CALVANESE FOUNDATION INC, founded in 1996, is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $97K in total revenue in fiscal year 2024. Revenue surged 53% from the prior year, signaling strong growth momentum. Net assets of $619K represent 77 months of operating reserves.

Mission

THE ORGANIZATION SPONSORS COLLEGE SCHOLARSHIPS TO GRADUATES OF SOUTHINGTON HIGH SCHOOL AND ALSO CONTRIBUTES TO OTHER CHARITABLE ORGANIZATIONS.

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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 $32,227

Program Service Revenue $0

Investment Income $26,688

Other Revenue $38,084

TOTAL REVENUE $96,999

Expense Breakdown

Grants Paid $97,120

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $98,386

Other Expenses $4,180

TOTAL EXPENSES $101,300

Year-over-Year Comparison

	2024	2023	Change
Revenue	$96,999	$63,215	+0.5%
Expenses	$101,300	$88,291	+0.1%
Net Income	$-4,301	$-25,076	-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

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
ALYSSA CALVANESE	SECRETARY	1.00	Officer Director	$0	$0	$0
CHRISTOPHER P CALVANESE	DIRECTOR	1.00	Director	$0	$0	$0
HEATHER CALVANESE	DIRECTOR	1.00	Director	$0	$0	$0
MARY C CELELLA	DIRECTOR	1.00	Director	$0	$0	$0
LAUREN FORGIONE	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
MARGARET C FORGIONE	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH J CALVANESE JR	PRESIDENT	1.00	Officer Director	$0	$0	$0
KATHRYN C REINHARD	TREASURER	3.00	Officer Director	$0	$0	$0
ANTHONY J URILLO	DIRECTOR	1.00	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	$96,999	$101,300	$619,481	$-4,301
2023	$63,215	$88,291	$620,768	$-25,076
2022	$78,854	$76,970	$610,704	$1,884
2021	$221,004	$72,882	$695,776	$148,122
2020	$39,146	$53,216	$560,019	$-14,070
2019	$123,084	$118,986	$533,179	$4,098
2018	$108,728	$78,441	$498,923	$30,287

THE JOE AND KAY CALVANESE FOUNDATION INC