SUMMIT SPEECH SCHOOL

EIN: 221829502 501(c)(3)

NEW PROVIDENCE, NJ

Total Revenue
$5,181,103
Total Expenses
$4,719,620
Total Assets
$12,041,102
Net Assets
$11,651,021
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1967
Legal Domicile
NJ
Principal Officer
RAY DORSO
Phone
9085080011
Tax Period
2024-07-01 to 2025-06-30

SUMMIT SPEECH SCHOOL, founded in 1967, is a community nonprofit that reported $5.2M in total revenue in fiscal year 2024. Expenses of $4.7M left a modest 9% surplus.

Mission

TO EMPOWER CHILDREN WITH HEARING LOSS TO BECOME EFFECTIVE COMMUNICATORS USING LISTENING AND SPOKEN LANGUAGE. WITH SUPPORT FROM FAMILIES AND PROFESSIONALS, THERE ARE NO LIMITS TO OUR CHILDREN REACHING THEIR FULLEST POTENTIAL IN THEIR HOMES, SCHOOLS, AND COMMUNITIES, AND BECOMING LIFELONG LEARNERS.

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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 $1,111,236
Program Service Revenue $3,526,543
Investment Income $489,864
Other Revenue $53,460
TOTAL REVENUE $5,181,103

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,845,424
Fundraising Expenses $440,144
Program Expenses $3,075,471
Other Expenses $874,196
TOTAL EXPENSES $4,719,620

Year-over-Year Comparison

2024 2023 Change
Revenue $5,181,103 $5,002,323 +0.0%
Expenses $4,719,620 $4,546,951 +0.0%
Net Income $461,483 $455,372 +0.0%
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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Governance

Voting Members
14
Independent Members
14
Employees
69
Volunteers
15

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
3
$362,412
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTINE PRESTON CHAIR 1.00
Director
$0 $0 $0
LOREDANA CORMARTY VICE CHAIR 1.00
Director
$0 $0 $0
KEVIN WALSH SECRETARY 1.00
Director
$0 $0 $0
NICK TAFURI TREASURER 1.00
Director
$0 $0 $0
SAMANTHA BARBIERI TRUSTEE 1.00
Director
$0 $0 $0
RASMEET CHAHIL TRUSTEE 1.00
Director
$0 $0 $0
ANDREW CHORNEY TRUSTEE 1.00
Director
$0 $0 $0
TRACY DANSKY TRUSTEE 1.00
Director
$0 $0 $0
JED KWARTLER TRUSTEE 1.00
Director
$0 $0 $0
MICHAEL LUDWIG TRUSTEE 1.00
Director
$0 $0 $0
JUSTIN RAHO TRUSTEE 1.00
Director
$0 $0 $0
MARYAM ROBATI-MCDONALD TRUSTEE 1.00
Director
$0 $0 $0
STEVEN PLUMP TRUSTEE 1.00
Director
$0 $0 $0
RANDI SILVERSTEIN TRUSTEE 1.00
Director
$0 $0 $0
RAY DORSO EXECUTIVE DIRECTOR 40.00
Officer
$132,366 $2,704 $135,070
PAMELA VOLPE BUSINESS ADMINISTRATOR 40.00
Officer
$107,946 $15,210 $123,156
ELLEN TEPPER SENIOR DEVELOPPMENT OFFICER 40.00
Officer
$84,761 $19,425 $104,186
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 $5,181,103 $4,719,620 $12,041,102 $461,483
2024 $5,002,323 $4,546,951 $11,039,743 $455,372
2023 $5,663,553 $4,383,758 $9,988,069 $1,279,795
2022 $4,268,879 $4,222,587 $7,846,224 $46,292
2021 $5,858,895 $3,881,435 $9,329,537 $1,977,460
2020 $4,288,174 $4,085,760 $8,162,493 $202,414
2019 $4,338,554 $4,242,526 $7,346,276 $96,028
2018 $4,131,803 $4,211,083 $11,404,490 $-79,280
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