MILL NECK FOUNDATION INC

EIN: 112497863 501(c)(3) Health Care

MILL NECK, NY

Total Revenue
$1,364,560
Total Expenses
$2,356,849
Total Assets
$28,762,092
Net Assets
$20,220,392
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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
1979
Legal Domicile
NY
Principal Officer
ADRIANO RANIERI
Phone
5166284280
Tax Period
2024-01-01 to 2024-12-31

MILL NECK FOUNDATION INC, founded in 1979, is a community nonprofit in the Health Care sector that reported $1.4M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $2.4M exceeded revenue, resulting in a 73% operating deficit.

Mission

THE MILL NECK FOUNDATION WAS FORMED TO GATHER RESOURCES TO SUPPORT A VARIETY OF MINISTRIES IN THE U.S. AND WORLDWIDE, WHICH SERVE DEAF AND HARD OF HEARING PEOPLE, INCLUDING MILL NECK MANOR SCHOOL FOR THE DEAF, MILL NECK SERVICES INC., AND LUTHERAN FRIENDS OF THE DEAF.

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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 (2024)

Revenue Breakdown

Contributions & Grants $669,097
Program Service Revenue $506,569
Investment Income $0
Other Revenue $188,894
TOTAL REVENUE $1,364,560

Expense Breakdown

Grants Paid $146,702
Salaries & Benefits $1,264,650
Fundraising Expenses $471,877
Program Expenses $208,828
Other Expenses $945,497
TOTAL EXPENSES $2,356,849

Year-over-Year Comparison

2024 2023 Change
Revenue $1,364,560 $1,236,001 +0.1%
Expenses $2,356,849 $2,644,564 -0.1%
Net Income $-992,289 $-1,408,563 -0.3%
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
7
Employees
16
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
5
$388,102
Total Directors
11
$487,758
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM CHARON CHAIRMAN 12.00
Officer Director
$0 $0 $0
REV DR DAVID H BENKE VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
BRIAN FREDERICH SECRETARY 1.00
Officer Director
$0 $0 $0
CHRISTINE ODDO TRUSTEE 1.00
Director
$0 $0 $0
JOYCE BISSO TRUSTEE 1.00
Director
$0 $0 $0
GREGORY WALTON TRUSTEE 1.00
Director
$0 $0 $0
DANILO TORRES TRUSTEE 1.00
Director
$0 $0 $0
JOSEPH DIBARTOLO TRUSTEE 1.00
Director
$0 $0 $0
TOULA RAMEY DIRECTOR OF DEVELOPMENT 40.00
Director
$99,656 $0 $99,656
TIM CHARON INTERIM COO 9.00
Officer Director
$0 $40,405 $210,497
ADRIANO RANIERI CFO 9.00
Officer Director
$0 $44,827 $177,605
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 $1,364,560 $2,356,849 $28,762,092 $-992,289
2023 $1,236,001 $2,644,564 $27,832,331 $-1,408,563
2022 $2,093,839 $2,660,517 $26,410,586 $-566,678
2021 $1,972,327 $3,304,969 $27,242,239 $-1,332,642
2020 $1,396,036 $2,051,825 $26,531,645 $-655,789
2019 $1,018,397 $3,938,157 $24,786,662 $-2,919,760
2018 $3,376,518 $3,129,136 $24,363,625 $247,382
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