WILLIAM PENN FRATERNAL ASSOCIATION SCHOLARSHIP FOUNDATION INC

EIN: 237059647 501(c)(3)

PITTSBURGH, PA

Total Revenue
$67,812
Total Expenses
$181,199
Total Assets
$621,687
Net Assets
$621,687
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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
1969
Legal Domicile
PA
Principal Officer
DIANE M TORMA
Phone
4122312979
Tax Period
2023-01-01 to 2023-12-31

WILLIAM PENN FRATERNAL ASSOCIATION SCHOLARSHIP FOUNDATION INC, founded in 1969, is a micro nonprofit that reported $68K in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $181K exceeded revenue, resulting in a 167% operating deficit.

Mission

TO AWARD SCHOLARSHIPS TO QUALIFIED INDIVIDUALS, MEMBERS OF THE WILLIAM PENN ASSOCIATION.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $42,298
Program Service Revenue $0
Investment Income $25,514
Other Revenue $0
TOTAL REVENUE $67,812

Expense Breakdown

Grants Paid $178,000
Salaries & Benefits $0
Fundraising Expenses $100
Program Expenses $178,000
Other Expenses $3,199
TOTAL EXPENSES $181,199

Year-over-Year Comparison

2023 2022 Change
Revenue $67,812 $55,678 +0.2%
Expenses $181,199 $63,815 +1.8%
Net Income $-113,387 $-8,137 +12.9%
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

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Governance

Voting Members
10
Independent Members
N/A
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
4
$742,655
Total Directors
12
$1,003,487
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GEORGE S CHARLES JR PRESIDENT/CEO 0.50
Officer Director
$0 $29,573 $252,079
MICHAEL J CHOBODY NATIONAL DIRECTOR 0.50
Director
$0 $4,018 $26,575
DAVID M KOZAK-RETIRED 1023 NATIONAL DIRECTOR/VCOB 0.50
Director
$0 $6,582 $24,351
DEBRA A LEWIS NATIONAL DIRECTOR/VCOB 0.50
Director
$0 $8,309 $40,013
JOYCE E NICHOLSON NATIONAL DIRECTOR/VCOB 0.50
Director
$0 $8,503 $34,164
KATHERINE E NOVAK NATIONAL DIRECTOR/COB 0.50
Director
$0 $8,309 $37,492
JAMES W ROBERTSON NATIONAL DIRECTOR 0.50
Director
$0 $7,390 $31,505
RICHARD E SAROSI NATIONAL DIRECTOR 0.50
Director
$0 $7,741 $31,694
ANNE MARIE SCHMIDT NATIONAL DIRECTOR/VCOB-RETIRED 10/23 0.50
Director
$0 $7,524 $35,038
DIANE M TORMA CHIEF FINANCIAL OFFICER 0.50
Officer Director
$0 $21,187 $174,105
STEVEN F CHARLES CHIEF OPERATING OFFICER 0.50
Officer Director
$0 $12,352 $153,470
CASSANDRA HOLMES CHIEF ADMINISTRATIVE OFFICER 0.50
Officer Director
$0 $21,163 $163,001
JOHN BOSI CHIEF INFORMATION SECURITY OFFICER 1.00
Highest
$0 $7,792 $121,849
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
2024 No data No data No data No data
2023 $67,812 $181,199 $621,687 $-113,387
2022 $55,678 $63,815 $735,074 $-8,137
2021 $45,877 $67,474 $743,211 $-21,597
2020 $143,050 $72,802 $764,808 $70,248
2019 $76,260 $82,632 $694,560 $-6,372
2018 $59,284 $87,960 $700,932 $-28,676
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