LITCHFIELD HIGH SCHOOL SCHOLARSHIP ASSOCIATION INC

EIN: 066058295 501(c)(3) Education

LITCHFIELD, CT

Total Revenue
$823,838
Total Expenses
$480,960
Total Assets
$9,509,329
Net Assets
$9,509,329
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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
1940
Legal Domicile
CT
Principal Officer
F ROBERT PETRICONE
Phone
8605670565
Tax Period
2023-07-01 to 2024-06-30

LITCHFIELD HIGH SCHOOL SCHOLARSHIP ASSOCIATION INC, founded in 1940, is a small nonprofit in the Education sector that reported $824K in total revenue in fiscal year 2023. The organization ran a surplus of $343K, a strong 42% operating margin.

Mission

TO GRANT SCHOLARSHIPS TO LITCHFIELD HIGH SCHOOL GRADUATES.

Program Service Accomplishments

Program 1
Expenses: $440,736

THE LITCHFIELD HIGH SCHOOL SCHOLARSHIP ASSOCIATION, INC. AWARDED 458,131 TO APPROXIMATELEY 97 STUDENTS TO PAY FOR TUITION AND BOOKS TO FURTHER THEIR EDUCATION. ALL RECIPIENTS ARE LITCHFIELD HIGH...

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THE LITCHFIELD HIGH SCHOOL SCHOLARSHIP ASSOCIATION, INC. AWARDED 458,131 TO APPROXIMATELEY 97 STUDENTS TO PAY FOR TUITION AND BOOKS TO FURTHER THEIR EDUCATION. ALL RECIPIENTS ARE LITCHFIELD HIGH SCHOOL GRADUATES.

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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 $24,435
Program Service Revenue $0
Investment Income $799,403
Other Revenue $0
TOTAL REVENUE $823,838

Expense Breakdown

Grants Paid $440,736
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $440,736
Other Expenses $40,224
TOTAL EXPENSES $480,960

Year-over-Year Comparison

2023 2022 Change
Revenue $823,838 $860,389 0.0%
Expenses $480,960 $487,121 0.0%
Net Income $342,878 $373,268 -0.1%
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
8
Independent Members
8
Employees
N/A
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
4
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
F ROBERT PETRICONE PRESIDENT N/A
Officer Director
$0 $0 $0
PHILIP G SAMPONARO TREASURER N/A
Officer Director
$0 $0 $0
SUSAN O KENNEDY CORRESPONDIN N/A
Officer Director
$0 $0 $0
ROBERTA ANDRULIS METTE SECRETARY N/A
Officer Director
$0 $0 $0
GARY P WAUGH DIRECTOR N/A
Director
$0 $0 $0
LOUIS DONNE DIRECTOR N/A
Director
$0 $0 $0
CHRISTOPHER LEONE DIRECTOR N/A
Director
$0 $0 $0
MICHAEL PASCENTO DIRECTOR N/A
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 $823,838 $480,960 $9,509,329 $342,878
2023 $860,389 $487,121 $8,711,044 $373,268
2022 $463,228 $426,893 $8,168,014 $36,335
2021 $1,001,934 $389,681 $9,702,333 $612,253
2020 $567,539 $394,941 $7,960,924 $172,598
2019 $264,726 $416,853 $8,123,118 $-152,127
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