CORNWALL IRON FURNACE ASSOCIATES INC (EIN 222579090) - 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

1986

Legal Domicile

Phone

7172729711

Tax Period

2024-07-01 to 2025-06-30

CORNWALL IRON FURNACE ASSOCIATES INC, founded in 1986, is a micro nonprofit that reported $29K in total revenue in fiscal year 2024. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $37K exceeded revenue, resulting in a 29% operating deficit.

Mission

To support the preservation, interpretation, curatorial and educational programs of Cornwall Iron Furnace, a Pennsylvania Historical Museum Commission (PHMC) site.

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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 $15,453

Program Service Revenue $3,461

Investment Income $96

Other Revenue $10,102

TOTAL REVENUE $29,112

Expense Breakdown

Grants Paid $0

Salaries & Benefits $19,563

Fundraising Expenses $0

Program Expenses $36,384

Other Expenses $17,921

TOTAL EXPENSES $37,484

Year-over-Year Comparison

	2024	2023	Change
Revenue	$29,112	$40,297	-0.3%
Expenses	$37,484	$28,263	+0.3%
Net Income	$-8,372	$12,034	-1.7%

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

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
IRVIN MURITZ	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG BALL	DIRECTOR	1.00	Director	$0	$0	$0
TIM NIEMAN	DIRECTOR	1.00	Director	$0	$0	$0
L SUSAN WENTZEL	DIRECTOR	1.00	Director	$0	$0	$0
CATHERINE MILLER	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL BERNARD	DIRECTOR	1.00	Director	$0	$0	$0
RICK BROUSE	DIRECTOR	1.00	Director	$0	$0	$0
JAMES POLCZYNSKI	PRESIDENT	1.00	Officer Director	$0	$0	$0
MIKE TRUMP	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KATHY DONALDSON	TREASURER	1.00	Officer Director	$0	$0	$0
ANDREW HEBERT	SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL EMERY	SITE ADMINISTRATOR	1.00		$0	$0	$0
KARIN MITCHELL	FINANCIAL SECRETARY	1.00	Key Emp	$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	$29,112	$37,484	$108,179	$-8,372
2024	$40,297	$28,263	$116,551	$12,034
2023	$32,137	$25,954	$104,517	$6,183
2022	$17,425	$17,639	$98,332	$-214
2021	$15,943	$21,931	$98,546	$-5,988
2020	$31,346	$22,763	$104,534	$8,583
2019	$31,487	$26,718	$95,951	$4,769

CORNWALL IRON FURNACE ASSOCIATES INC