LONG ISLAND FORUM FOR TECHNOLOGY INC (EIN 132947379) - 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

1977

Legal Domicile

Principal Officer

BARRY SHORTEN

Phone

5167497402

Tax Period

2021-01-01 to 2021-12-31

LONG ISLAND FORUM FOR TECHNOLOGY INC, founded in 1977, is a micro nonprofit that reported $34K in total revenue in fiscal year 2021. The organization ran a surplus of $7K, a strong 20% operating margin.

Mission

THE COMPANY IS IN THE PROCESS OF OBTAINING APPROVAL FROM THE NEW YORK STATE ATTORNEY GENERAL TO MERGE THE LONG ISLAND FORUM FOR TECHNOLOGY INC. ("LIFT") INTO ADVANCED MATERIALS MANUFACTURING TECHNOLOGY INFORMATION CENTER, RESEARCH FOUNDATION CORP., D/B/A COMPOSITE PROTOTYPING CENTER, A RELATED PARTY. THE COMPANY WAS INACTIVE DURING THE YEAR. THE COMPANY SOLD ALL OF THEIR ASSETS DURING THE YEAR AND TRANSFERRED THE PROCEEDS TO THE COMPOSITE PROTOTYPING CENTER TO PAY OFF DEBT THAT WAS SECURED BY THESE ASSETS. THE REMAINING PROCEEDS WERE USED TO SETTLE OUTSTANDING LIABILITIES OF BOTH LIFT AND CPC. THE REMAINING CASH WILL BE USED TO REBRAND CPC.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $0

Other Revenue $34,270

TOTAL REVENUE $34,270

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,450

Other Expenses $27,545

TOTAL EXPENSES $27,545

Year-over-Year Comparison

	2021	2020	Change
Revenue	$34,270	$-5,536,766	-1.0%
Expenses	$27,545	$644,950	-1.0%
Net Income	$6,725	$-6,181,716	-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

$152,269

Total Directors

$152,269

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARRY SHORTEN	CHAIR	2.00	Officer Director	$0	$0	$0
JEFFREY BASS	SECRETARY	2.00	Officer Director	$0	$0	$0
MICHAEL MCQUILLIAN	TREASURER/DIR. FINANCE	2.00	Officer Director	$0	$36,524	$152,269
JOSEPH GARONE	BOARD MEMBER	2.00	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
2021	$34,270	$27,545	$4,893,194	$6,725
2020	$-5,536,766	$644,950	$5,025,686	$-6,181,716
2019	$-155,267	$660,576	$11,630,270	$-815,843
2018	$738,357	$635,642	$12,803,923	$102,715
2017	$563,894	$720,781	$12,776,898	$-156,887

LONG ISLAND FORUM FOR TECHNOLOGY INC