WORCESTER STATE FOUNDATION INC (EIN 223248067) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1994

Legal Domicile

Principal Officer

EDWARD L SHERR

Phone

5087938033

Tax Period

2022-07-01 to 2023-06-30

WORCESTER STATE FOUNDATION INC, founded in 1994, is a community nonprofit in the Education sector that reported $8.3M in total revenue in fiscal year 2022. Revenue surged 113% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.3M, a strong 76% operating margin.

Mission

THE CORPORATION IS OPERATED FOR THE PURPOSE OF RENDERING FINANCIAL AID TO PROSPECTIVE AND CURRENT STUDENTS OF WORCESTER STATE UNIVERSITY; TO PROMOTE AND SUPPORT THE EDUCATIONAL AND OTHER LEGAL ACTIVITIES FOR THE BENEFIT OF WORCESTER STATE UNIVERSITY AND ITS CONSTITUENCY.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $7,686,429

Program Service Revenue $0

Investment Income $545,428

Other Revenue $19,717

TOTAL REVENUE $8,251,574

Expense Breakdown

Grants Paid $1,828,229

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,910,069

Other Expenses $148,386

TOTAL EXPENSES $1,976,615

Year-over-Year Comparison

	2022	2021	Change
Revenue	$8,251,574	$3,879,031	+1.1%
Expenses	$1,976,615	$2,288,643	-0.1%
Net Income	$6,274,959	$1,590,388	+2.9%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

376

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

$222,838

Total Directors

$222,838

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CRAIG A BOVAIRD	IMMEDIATE PAST CHAIR	2.00	Officer Director	$0	$0	$0
ANN L DEBAISIO	CHAIR	2.00	Officer Director	$0	$0	$0
KEVIN T CAMPBELL	VIE CHAIR	2.00	Officer Director	$0	$0	$0
MARYBETH CAMPBELL	DIRECTOR	2.00	Director	$0	$0	$0
EDWARD L SHERR	TREASURER	2.00	Officer Director	$0	$0	$0
THOMAS M MCNAMARA	PRESIDENT/CLERK	2.00	Officer Director	$0	$0	$222,838
JOHN R BUCKLEY III	DIRECTOR	2.00	Director	$0	$0	$0
GRETA BAJRAMI CAMPOVERDE	DIRECTOR	2.00	Director	$0	$0	$0
DAVID E BEDARD	DIRECTOR	2.00	Director	$0	$0	$0
JOHN P BRISSETTE	DIRECTOR	2.00	Director	$0	$0	$0
MARY BURKE FALLON	DIRECTOR	2.00	Director	$0	$0	$0
DANIEL F FIGUEIREDO	DIRECTOR	2.00	Director	$0	$0	$0
GEOVANNA I DIAZ	DIRECTOR	2.00	Director	$0	$0	$0
ALLEN J FALKE	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTOPHER J GRONDIN	DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER BEATON	DIRECTOR	2.00	Director	$0	$0	$0
MARYANNE M HAMMOND	DIRECTOR	2.00	Director	$0	$0	$0
WARREN D HAYDEN	DIRECTOR	2.00	Director	$0	$0	$0
ALAN I GORDON	DIRECTOR	2.00	Director	$0	$0	$0
DEREK CANTON	DIRECTOR	2.00	Director	$0	$0	$0
SANDRA HUBBARD	DIRECTOR	2.00	Director	$0	$0	$0
HELDER MACHADO	DIRECTOR	2.00	Director	$0	$0	$0
DOROTHY J MANNING	DIRECTOR	2.00	Director	$0	$0	$0
ROSANNE MATULAITIS	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL J MILLS	DIRECTOR	2.00	Director	$0	$0	$0
SATYA MITRA	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT MORTON	DIRECTOR	2.00	Director	$0	$0	$0
SUZANNE NEBELUNG	DIRECTOR	2.00	Director	$0	$0	$0
BARBARA MAHONEY	DIRECTOR	2.00	Director	$0	$0	$0
ALAN O OSMOWLOWSKI	DIRECTOR	2.00	Director	$0	$0	$0
SAMANTHA SANTIAGO	DIRECTOR	2.00	Director	$0	$0	$0
ROBIN J QUILL	ASSISTANT TREASURER	2.00	Officer Director	$0	$0	$0
GREGG H ROSEN	DIRECTOR	2.00	Director	$0	$0	$0
SHAREN C SHIPLEY	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT J SPAIN	DIRECTOR	2.00	Director	$0	$0	$0
PETER J STAITI	DIRECTOR	2.00	Director	$0	$0	$0
GEORGE W TETLER III	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT C MAILLOUX	DIRECTOR	2.00	Director	$0	$0	$0
RANDAL D WEBBER	DIRECTOR	2.00	Director	$0	$0	$0
CATHERYN M MCEVOY	DIRECTOR	2.00	Director	$0	$0	$0
JAMES GLICKMAN	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
ANDREW NGO	EX OFFICIO	2.00	Director	$0	$0	$0
SETH PITTS	DIRECTOR	2.00	Director	$0	$0	$0
DINA NICHOLS	DIRECTOR	2.00	Director	$0	$0	$0
BARRY MALONEY	EX OFFICIO	2.00	Director	$0	$0	$0
OMOZUANVBO AISIKU	DIRECTOR	2.00	Director	$0	$0	$0
KIMBERLY SALMON	DIRECTOR	2.00	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$8,251,574	$1,976,615	$48,675,342	$6,274,959
2022	$3,879,031	$2,288,643	$39,235,883	$1,590,388
2021	$7,166,785	$2,032,248	$45,638,804	$5,134,537
2020	$3,015,775	$2,041,610	$34,572,154	$974,165
2019	$3,604,598	$1,613,843	$32,840,849	$1,990,755
2018	$6,201,798	$1,569,324	$31,419,242	$4,632,474

WORCESTER STATE FOUNDATION INC