REAL ESTATE FINANCE ASSOCIATION OF CONNECTICUT INC (EIN 061632255) - 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

2001

Legal Domicile

Principal Officer

MARK SCHUMAN

Phone

8602433977

Tax Period

2024-01-01 to 2024-12-31

REAL ESTATE FINANCE ASSOCIATION OF CONNECTICUT INC, founded in 2001, is a small nonprofit in the Community Improvement sector that reported $336K in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum.

Mission

TO BRING TOGETHER QUALITY INFORMATION TO REAL ESTATE PROFESSIONALS.

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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 $65,279

Program Service Revenue $248,510

Investment Income $19,608

Other Revenue $2,955

TOTAL REVENUE $336,352

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $339,397

TOTAL EXPENSES $339,397

Year-over-Year Comparison

	2024	2023	Change
Revenue	$336,352	$258,476	+0.3%
Expenses	$339,397	$335,329	+0.0%
Net Income	$-3,045	$-76,853	-1.0%

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
JAMES LANE	PRESIDENT	1.00	Officer Director	$0	$0	$0
MELISSA FERRUCCI	HARTFORD CHAPTER PRESIDENT	1.00	Director	$0	$0	$0
ANNA PALADINO	HARTFORD CHAPTER VICE PRESIDENT	1.00	Director	$0	$0	$0
DAVID GENOVESE	FAIRFIELD/WESTCHESTER PRESIDENT	1.00	Director	$0	$0	$0
HANK ASHFORTH	FAIRFIELD/WESTCHESTER VICE PRESIDENT	1.00	Director	$0	$0	$0
DEREK EZOVSKI	PAST PRESIDENT	1.00	Director	$0	$0	$0
PATRICK MULREADY	DIRECTOR	1.00	Director	$0	$0	$0
AL MIRIN	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN ZELMAN	DIRECTOR	1.00	Director	$0	$0	$0
STEVEN ELBAUM	DIRECTOR	1.00	Director	$0	$0	$0
FRANK APPICELLI	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG WAY	DIRECTOR	1.00	Director	$0	$0	$0
MARK SCHUMAN	EXECUTIVE DIRECTOR	6.00	Officer	$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	$336,352	$339,397	$390,424	$-3,045
2023	$258,476	$335,329	$372,895	$-76,853
2022	$245,815	$297,593	$390,265	$-51,778
2021	$263,152	$294,171	$501,857	$-31,019
2020	$243,059	$229,713	$541,817	$13,346
2019	$377,531	$380,278	$547,087	$-2,747

REAL ESTATE FINANCE ASSOCIATION OF CONNECTICUT INC