FARMINGTON STUDENT LOAN FOUNDATION INC C/O BUDWITZ & MEYERJACK PC (EIN 066070887) - 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

1964

Legal Domicile

Principal Officer

KEVIN S RAY

Phone

8606774697

Tax Period

2023-10-01 to 2024-09-30

FARMINGTON STUDENT LOAN FOUNDATION INC C/O BUDWITZ & MEYERJACK PC, founded in 1964, is a micro nonprofit in the Education sector that reported $46K in total revenue in fiscal year 2023. Revenue surged 7820% from the prior year, signaling strong growth momentum. The organization ran a surplus of $40K, a strong 86% operating margin.

Mission

SEE SCHEDULE O THE FARMINGTON FOUNDATION IS A LOW-INTEREST STUDENT LOAN FUND. ALL STUDENTS GOING TO COLLEGE AS AN UNDERGRADUATE MAY APPLY FOR A LOAN. LOANS ARE GRANTED BY THE LOAN COMMITTEE IF THE STUDENT DEMONSTRATES FINANCIAL NEED.

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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 $0

Program Service Revenue $811

Investment Income $127

Other Revenue $45,000

TOTAL REVENUE $45,938

Expense Breakdown

Grants Paid $6,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,200

Other Expenses $274

TOTAL EXPENSES $6,274

Year-over-Year Comparison

	2023	2022	Change
Revenue	$45,938	$580	+78.2%
Expenses	$6,274	$21,263	-0.7%
Net Income	$39,664	$-20,683	-2.9%

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
THOMAS CIESIELSKI	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL A ZIEBKA CPA	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL GURSKI	DIRECTOR	1.00	Director	$0	$0	$0
JOHN H HANGEN	DIRECTOR	1.00	Director	$0	$0	$0
DAVID HAWORTH	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN HAWORTH	DIRECTOR	1.00	Director	$0	$0	$0
EDWARD G CRUESS JR	DIRECTOR	1.00	Director	$0	$0	$0
WALTER NICKSA JR	DIRECTOR	1.00	Director	$0	$0	$0
JANICE RIMILLER	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER POGSON	TREASURER	1.00	Officer	$0	$0	$0
KEVIN S RAY	PRESIDENT	1.00	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
2025	No data	No data	No data	No data
2024	$45,938	$6,274	$458,134	$39,664
2023	$580	$21,264	$463,469	$-20,684
2022	$249	$21,385	$469,153	$-21,136
2021	$4,058	$46,224	$475,289	$-42,166
2020	$670	$20,987	$520,755	$-20,317
2019	$26,535	$18,268	$542,432	$8,267
2018	$8,158	$12,146	$519,165	$-3,988

FARMINGTON STUDENT LOAN FOUNDATION INC C/O BUDWITZ & MEYERJACK PC