FRIENDS OF QUALITY EDUCATION INC (EIN 223285118) - 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

1994

Legal Domicile

Principal Officer

PAUL DRITSAS

Phone

2019911040

Tax Period

2023-07-01 to 2024-06-30

FRIENDS OF QUALITY EDUCATION INC, founded in 1994, is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $21K in total revenue in fiscal year 2023. Revenue fell 57% from the prior year — a significant decline worth monitoring. Expenses of $51K exceeded revenue, resulting in a 146% operating deficit.

Mission

FRIENDS OF QUALITY EDUCATION INC PROVIDES SUPPORT TO CHARITABLE ORGANIZATIONS IN HUDSON COUNTY, EMPHASIZING A QUALITY EDUCATION FOR CHILDREN.

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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 $0

Program Service Revenue $20,584

Investment Income $0

Other Revenue $0

TOTAL REVENUE $20,584

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $50,594

Other Expenses $50,594

TOTAL EXPENSES $50,594

Year-over-Year Comparison

	2023	2022	Change
Revenue	$20,584	$47,761	-0.6%
Expenses	$50,594	$23,033	+1.2%
Net Income	$-30,010	$24,728	-2.2%

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

N/A

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
PETER WASINGER	TRUSTEE	1.00	Director	$0	$0	$0
GUALBERTO MEDINA	TRUSTEE	1.00	Director	$0	$0	$0
PAUL DRITSAS	PRESIDENT	2.00	Officer	$0	$0	$0
CAMILLE CESARI	SECRETARY-TREASURER	1.00	Officer	$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	$20,584	$50,594	$13,131,483	$-30,010
2023	$47,761	$23,033	$11,988,974	$24,728
2018	$1,580,064	$1,726,255	$15,212,669	$-146,191

FRIENDS OF QUALITY EDUCATION INC