THE PATERSON EDUCATION FOUNDATION INC (EIN 222464316) - 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

1983

Legal Domicile

Principal Officer

ROSEMARIE GRANT

Phone

9738818914

Tax Period

2024-07-01 to 2025-06-30

THE PATERSON EDUCATION FOUNDATION INC, founded in 1983, is a small nonprofit that reported $860K in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $1.0M exceeded revenue, resulting in a 21% operating deficit.

Mission

PATERSON EDUCATION FOUNDATION IS INVOLVED IN VARIOUS PROGRAMS TO IMPROVE EDUCATION IN THE PATERSON PUBLIC SCHOOL SYSTEM.

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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 (2024)

Revenue Breakdown

Contributions & Grants $861,297

Program Service Revenue $0

Investment Income $377

Other Revenue $-1,232

TOTAL REVENUE $860,442

Expense Breakdown

Grants Paid $91,172

Salaries & Benefits $727,828

Fundraising Expenses $7,748

Program Expenses $912,273

Other Expenses $219,004

TOTAL EXPENSES $1,038,004

Year-over-Year Comparison

	2024	2023	Change
Revenue	$860,442	$1,132,488	-0.2%
Expenses	$1,038,004	$1,009,228	+0.0%
Net Income	$-177,562	$123,260	-2.4%

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

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

$89,487

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PERRY LIGHTY	PRESIDENT	2.00	Officer Director	$0	$0	$0
ERROL KERR	TREASURER	2.00	Officer Director	$0	$0	$0
MELISSA BARALT PHD	SECRETARY	2.00	Officer Director	$0	$0	$0
DWAYNE A COX	MEMBER	2.00	Officer Director	$0	$0	$0
XIANIA FOSTER	MEMBER	2.00	Officer Director	$0	$0	$0
RAMON PAGAN PHD	MEMBER	2.00	Officer Director	$0	$0	$0
LAURIE W NEWELL PHD	MEMBER	2.00	Director	$0	$0	$0
ROSEMARIE GRANT	EXECUTIVE DIRECTOR & CEO	40.00	Officer	$81,533	$7,954	$89,487

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	$860,442	$1,038,004	$199,960	$-177,562
2024	$1,132,488	$1,009,228	$415,481	$123,260
2023	$1,135,298	$1,121,374	$227,943	$13,924
2022	$958,241	$931,280	$172,561	$26,961
2021	$747,323	$714,109	$200,925	$33,214
2019	$375,496	$563,127	$112,112	$-187,631
2018	$632,636	$492,920	$300,045	$139,716

THE PATERSON EDUCATION FOUNDATION INC