THE CLAREMONT ASSOCIATION INC

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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

2005

Legal Domicile

Principal Officer

VERONICA BEKKEROV

Phone

2124442321

Tax Period

2023-01-01 to 2023-12-31

THE CLAREMONT ASSOCIATION INC, founded in 2005, is a small nonprofit in the Education sector that reported $166K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $272K exceeded revenue, resulting in a 64% operating deficit.

Mission

TO ENHANCE THE EDUCATIONAL EXPERIENCE FOR ALL STUDENTS OF THE SCHOOL THROUGH FINANCIAL ASSISTANCE, STUDENT ENRICHMENT, FACULTY AND STAFF PROFESSIONAL DEVELOPMENT, COMMUNITY BUILDING AND FACULTY ENHANCEMENT.

Program Service Accomplishments

Program 1

Expenses: $189,530 Revenue: $0

ANNUAL DUES SUBSIDIZES ADMISSIONS FEES AND COSTS FOR EVENTS THROUGHOUT THE YEAR IN THE LOWER & UPPER SCHOOL WELCOME BACK EVENTS, TRIVIA NIGHT, BOOK FAIR, INTERNATIONAL FESTIVAL, PARENTS VS. FACULTY BASKETBALL GAME.DIRECT CONTRIBUTION TO CLASSROOM IN THE LOWER SCHOOL OR CHILD'S GRADE IN THE UPPER SCHOOL. CLASS PROJECTS, CLASS, TEACHER AND PARENT CELEBRATIONS, HOLIDAY CELEBRATIONS, SPEAKERS ARE EXAMPLES.FACULTY AND STAFF ENRICHMENT : RECOGNITION GIFT FOR OUR ENTIRE STAFF WHO IMPACT OUR CHILDREN AND COMMUNITY DAILY.

Program 2

Expenses: $13,140 Revenue: $1,036

LCA FOUNDATION STUDENT ENRICHMENT: STUDENTS RECEIVING FINANCIAL AID BY THE SCHOOL MAY SUBMIT FOR REIMBURSEMENT TO THE EXTENT OF THEIR PERCENTAGE OF AID FOR A LEMAN PLUS CLASS (ONE TRIMESTER PER...

LCA FOUNDATION STUDENT ENRICHMENT: STUDENTS RECEIVING FINANCIAL AID BY THE SCHOOL MAY SUBMIT FOR REIMBURSEMENT TO THE EXTENT OF THEIR PERCENTAGE OF AID FOR A LEMAN PLUS CLASS (ONE TRIMESTER PER ANNUM), LEMAN CONSERVATORY LESSON (50%, TO THE EXTENT OF AID FOR ENTIRE YEAR) AND ALL SCHOOL CLASS TRIPS.COMMUNITY SERVICE: TO DELIVER OPPORTUNITIES FOR LEMAN FAMILIES TO SERVE THE WIDER COMMUNITY. CHARITABLE EVENTS THAT ARE GEARED TOWARDS CHILDREN AND PARENTS COLLECTIVELY COMING TOGETHER WITH FACULTY AND STAFF OF LEMAN TO PROVIDE ASSISTANCE TO THOSE IN NEED. EVENTS THAT BRING THE LEMAN COMMUNITY TOGETHER SERVING THE BROADER COMMUNITY HAVE BECOME VERY POPULAR AND A WONDERFUL HANDS ON EXERCISE FOR EDUCATION YOUNG MINDS TO BECOMING GLOBAL CITIZENS. EVENTS INCLUDE; NYC KIDS PROJECT, RISE FOR HUNGER, GUEST SPEAKER EVENTS FOR STUDENTS.SARAH MCMICKLE SUMMER SCHOLARSHIP: A MERIT-BASED TUITION REIMBURSEMENT FOR HIGH SCHOOL STUDENTS WHO PURSUE SUMMER COURSES AT COLLEGE/UNIVERSITY PROGRAMS.

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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 $157,729

Program Service Revenue $1,036

Investment Income $3,365

Other Revenue $3,779

TOTAL REVENUE $165,909

Expense Breakdown

Grants Paid $13,140

Salaries & Benefits $0

Fundraising Expenses $44,094

Program Expenses $202,670

Other Expenses $259,034

TOTAL EXPENSES $272,174

Year-over-Year Comparison

	2023	2022	Change
Revenue	$165,909	$191,012	-0.1%
Expenses	$272,174	$162,613	+0.7%
Net Income	$-106,265	$28,399	-4.7%

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
JENNIFER ROSINI-GENTILE	PRESIDENT	6.00	Officer Director	$0	$0	$0
KRISTIN FLATTMANN	SECRETARY	4.00	Officer Director	$0	$0	$0
VERONICA BEKKEROV	TREASURER	6.00	Officer Director	$0	$0	$0
SID ASSOMULL	DIRECTOR	4.00	Director	$0	$0	$0
ANNA LI	DIRECTOR	5.00	Director	$0	$0	$0
AMANDA BANKUTI	DIRECTOR	4.00	Director	$0	$0	$0
IME NELSON	DIRECTOR	4.00	Director	$0	$0	$0
KRISTIN DIOBILDA	DIRECTOR	4.00	Director	$0	$0	$0
ESTHER MARCUS-CARTER	DIRECTOR	4.00	Director	$0	$0	$0
ARIEL DENNIS	DIRECTOR	4.00	Director	$0	$0	$0
NYASHA BABB	DIRECTOR	4.00	Director	$0	$0	$0
AGNIESZKA ROGINSKA	DIRECTOR	4.00	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
2024	No data	No data	No data	No data
2023	$165,909	$272,174	$610,499	$-106,265
2022	$191,012	$162,613	$712,622	$28,399
2021	$184,661	$118,010	$678,408	$66,651
2020	$143,184	$175,035	$611,977	$-31,851
2019	$407,345	$391,362	$613,936	$15,983
2018	$292,421	$333,345	$591,057	$-40,924