HERRING COLLEGE MEM EDUCATIONAL TR C/O MARILYN TRAINOR

EIN: 161126179 501(c)(3)

WATERTOWN, NY

Total Revenue
$159,339
Total Expenses
$129,617
Total Assets
$3,199,847
Net Assets
$3,199,847
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1978
Legal Domicile
NY
Principal Officer
MARILYN TRAINOR
Phone
3154301746
Tax Period
2023-01-01 to 2023-12-31

HERRING COLLEGE MEM EDUCATIONAL TR C/O MARILYN TRAINOR, founded in 1978, is a small nonprofit that reported $159K in total revenue in fiscal year 2023. The organization ran a surplus of $30K, a strong 19% operating margin.

Mission

TO PROVIDE SCHOLARSHIPS FOR INDIVIDUALS THAT ARE ACADEMICALLY QUALIFIED AND LIVE IN THE CITY OF WATERTOWN AND SURROUNDING AREAS.

Program Service Accomplishments

Program 1
Expenses: $100,000

DONATION TO THE NORTHERN NEW YORK COMMUNITY FOUNDATION, INC. FOR THE HERRING COLLEGE MEMORIAL EDUCATIONAL TRUST.

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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 $0
Program Service Revenue $0
Investment Income $159,339
Other Revenue $0
TOTAL REVENUE $159,339

Expense Breakdown

Grants Paid $100,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $101,155
Other Expenses $29,617
TOTAL EXPENSES $129,617

Year-over-Year Comparison

2023 2022 Change
Revenue $159,339 $155,860 +0.0%
Expenses $129,617 $132,281 0.0%
Net Income $29,722 $23,579 +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

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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
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
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PJ BANAZEK VICE PRESIDE 0.25
Officer Director
$0 $0 $0
JERILYN FAIRMAN TRUSTEE 0.10
Director
$0 $0 $0
JEFFREY GINGER SECRETARY 0.25
Officer Director
$0 $0 $0
ROGER HOWARD TRUSTEE 0.10
Director
$0 $0 $0
MEGAN KENDALL TRUSTEE 0.10
Director
$0 $0 $0
MARC LADOUCEUR TREASURER 0.25
Officer Director
$0 $0 $0
MATTHEW MORGIA TRUSTEE 0.10
Director
$0 $0 $0
CHRISTINE POWERS TRUSTEE 0.10
Director
$0 $0 $0
JACQUELYN SCHELL TRUSTEE 0.10
Director
$0 $0 $0
ARTHUR STEVER TRUSTEE 0.10
Director
$0 $0 $0
MARILYN TRAINOR PRESIDENT 0.25
Officer 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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $159,339 $129,617 $3,199,847 $29,722
2022 $155,860 $132,281 $3,031,603 $23,579
2021 $263,799 $132,423 $3,477,201 $131,376
2020 $50,298 $128,931 $3,213,067 $-78,633
2019 $103,214 $128,318 $3,101,213 $-25,104
2018 $335,621 $129,092 $2,778,873 $206,529
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