Corry Area School District Foundat… - Form 990 Financial Data

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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

1997

Legal Domicile

Principal Officer

Julie Krone

Phone

8146644677

Tax Period

2024-07-01 to 2025-06-30

Corry Area School District Foundation, founded in 1997, is a small nonprofit in the Education sector that reported $322K in total revenue in fiscal year 2024. Revenue surged 72% from the prior year, signaling strong growth momentum. The organization ran a surplus of $173K, a strong 54% operating margin.

Mission

The Foundation provides scholarships and support to students.

Program Service Accomplishments

Program 1

Expenses: $149,397

Provide programs, scholarships, and other support to the Corry Area School District and their students to further the educational goals of the District and surrounding communities.

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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 $284,139

Program Service Revenue $0

Investment Income $11,314

Other Revenue $26,535

TOTAL REVENUE $321,988

Expense Breakdown

Grants Paid $97,851

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $149,397

Other Expenses $51,546

TOTAL EXPENSES $149,397

Year-over-Year Comparison

	2024	2023	Change
Revenue	$321,988	$187,699	+0.7%
Expenses	$149,397	$94,492	+0.6%
Net Income	$172,591	$93,207	+0.9%

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
DORIS GERNOVICH	BOARD MEMBER	1.00	Director	$0	$0	$0
ANDREA CHELTON	BOARD MEMBER	1.00	Director	$0	$0	$0
JOEL COOK	TREASURER	1.00	Officer Director	$0	$0	$0
AMY ALLEN	BOARD MEMBER	1.00	Director	$0	$0	$0
AMANDA COX	BOARD MEMBER	1.00	Director	$0	$0	$0
JASON HALFAST	VICE PRESIDENT	1.00	Director	$0	$0	$0
JOSEPH FRISINA	PRESIDENT	1.00	Officer Director	$0	$0	$0
KATHRYN DIVITTORIO	BOARD MEMBER	1.00	Director	$0	$0	$0
RICHARD FARVER	BOARD MEMBER	1.00	Officer 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	$321,988	$149,397	$1,468,356	$172,591
2024	$187,699	$94,492	$1,195,275	$93,207
2023	$178,645	$80,973	$1,016,634	$97,672
2022	$175,007	$39,286	$889,474	$135,721
2021	$125,924	$85,790	$834,470	$40,134

Corry Area School District Foundation