LORAIN EDUCATION ASSOCIATION (EIN 237083652) - 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

1979

Legal Domicile

Tax Period

2023-09-01 to 2024-08-31

LORAIN EDUCATION ASSOCIATION, founded in 1979, is a small nonprofit that reported $550K in total revenue in fiscal year 2023.

Mission

TO SECURE FOR THE PEOPLE OF LORAIN A STABLE BASIS FOR HARMONIOUS AND COOPERATIVE OPERATION OF THE SCHOOL SYSTEM, THE EDUCATION ASSOCIATION AND THE BOARD OF EDUCATION.

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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 $524,028

Investment Income $0

Other Revenue $25,605

TOTAL REVENUE $549,633

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $550,268

Other Expenses $550,268

TOTAL EXPENSES $550,268

Year-over-Year Comparison

	2023	2022	Change
Revenue	$549,633	$534,048	+0.0%
Expenses	$550,268	$529,817	+0.0%
Net Income	$-635	$4,231	-1.2%

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
CAROL CORRETHER	VICE PRESIDENT	20.00	Officer	$0	$0	$0
JULIE GARCIA	PRESIDENT	40.00	Officer	$0	$0	$0
TEODOR MORTI	TREASURER	20.00	Officer	$0	$0	$0
SANDRA PELOQUIN	SECRETARY	20.00	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
2024	$549,633	$550,268	$65,216	$-635
2023	$534,048	$529,817	$69,411	$4,231
2022	$521,699	$522,780	$66,746	$-1,081
2021	$462,513	$488,852	$67,825	$-26,339
2020	$465,961	$445,217	$94,791	$20,744

LORAIN EDUCATION ASSOCIATION