CENTRE FOUNDATION INC

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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

1995

Legal Domicile

Principal Officer

MOLLY KUNKEL

Phone

8142376229

Tax Period

2023-01-01 to 2023-12-31

CENTRE FOUNDATION INC, founded in 1995, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $6.0M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $5.8M left a modest 4% surplus.

Mission

CENTRE FOUNDATION FORMED TO RECEIVE, HOLD AND ADMINISTER FUNDS FOR THE BENEFIT OF THE COMMUNITY. ENDOWMENT FUNDS GENERATE EARNINGS FOR GRANTS TO LOCAL 501(C)(3) ORGANIZATIONS FOR THE BENEFIT OF ARTS, HUMANITIES, CULTURE, EDUCATION, RECREATION AND SOCIAL SERVICE AGENCIES IN CENTRE COUNTY PENNSYLVANIA AND SURROUNDING REGIONS.

Program Service Accomplishments

Program 1

Expenses: $5,139,942 Revenue: $9,060

CENTRE FOUNDATION BELIEVES IN THE ORGANIZATIONS THAT ARE CREATING A BETTER FUTURE FOR CENTRE COUNTY AND THE DONORS WHO SUPPORT THEM. WE WORK TO INSPIRE PHILANTHROPY, BUILD ENDOWMENTS, CREATE...

CENTRE FOUNDATION BELIEVES IN THE ORGANIZATIONS THAT ARE CREATING A BETTER FUTURE FOR CENTRE COUNTY AND THE DONORS WHO SUPPORT THEM. WE WORK TO INSPIRE PHILANTHROPY, BUILD ENDOWMENTS, CREATE COMMUNITY ENGAGEMENT, STRENGTHEN ORGANIZATIONS THROUGH TRAINING AND RESEARCH, FUND TRANSFORMATIVE PROJECTS, AND CONVENE EFFECTIVE PARTNERSHIPS AROUND COMMUNITY ISSUES. EACH YEAR, CENTRE FOUNDATION DISTRIBUTES GRANTS TO OVER 200 ORGANIZATIONS. PROGRAMS SUPPORT ALL KINDS OF WORK, ACROSS ALL NONPROFIT SECTORS AND FOCUSES INCLUDING: ARTS, HUMANITIES, CULTURE, EDUCATION, SOCIAL SERVICES AND CONSERVATION. WE PROVIDE ANNUAL COMMUNITY SUPPORT THROUGH OUR INNOVATIVE GIVING AND GRANTING PROGRAMS INCLUDING: CENTRE GIVES, CENTRE INSPIRES, CENTRE PACT, GIVING CIRCLE, FIELD OF INTEREST GRANTS, AND SCHOLARSHIPS TO UNIVERSITIES AND TRADE SCHOOLS. CENTRE FOUNDATION IS ACCREDITED THROUGH THE NATIONAL STANDARDS FOR U.S. COMMUNITY FOUNDATIONS.

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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 $4,569,402

Program Service Revenue $9,060

Investment Income $1,604,800

Other Revenue $-140,191

TOTAL REVENUE $6,043,071

Expense Breakdown

Grants Paid $4,378,774

Salaries & Benefits $751,753

Fundraising Expenses $306,534

Program Expenses $5,139,942

Other Expenses $673,967

TOTAL EXPENSES $5,804,494

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,043,071	$5,437,523	+0.1%
Expenses	$5,804,494	$5,946,892	0.0%
Net Income	$238,577	$-509,369	-1.5%

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

Volunteers

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

$173,079

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEN HALL	DIRECTOR	1.00	Director	$0	$0	$0
LYDIA ABDULLAH	DIRECTOR	1.00	Director	$0	$0	$0
CARI GUSTAFSON	DIRECTOR	1.00	Director	$0	$0	$0
PAULA WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
MADHURI SHRIKANT DESAI	DIRECTOR	1.00	Director	$0	$0	$0
ERIN MEITZLER	VICE CHAIR/SECRETARY	1.00	Officer Director	$0	$0	$0
RANDY WOOLRIDGE	DIRECTOR	1.00	Director	$0	$0	$0
BOB HICKS	DIRECTOR	2.00	Director	$0	$0	$0
BLAKE GALL	DIRECTOR	4.00	Director	$0	$0	$0
RICH KALIN	DIRECTOR	1.00	Director	$0	$0	$0
KATE BENNETT TRUITT	CHAIR	4.00	Officer Director	$0	$0	$0
ELLEN MATIS	DIRECTOR	1.00	Director	$0	$0	$0
SERIA CHATTERS	DIRECTOR	1.00	Director	$0	$0	$0
JOE DIONISIO	TREASURER	2.00	Officer Director	$0	$0	$0
VENKAT BENDAPUDI	DIRECTOR	1.00	Director	$0	$0	$0
MOLLY KUNKEL	PRESIDENT/CEO	50.00	Officer	$149,329	$23,750	$173,079
CARRIE RYAN	CFO/COO	50.00	Highest	$124,009	$28,257	$152,266

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	$6,043,071	$5,804,494	$78,171,662	$238,577
2022	$5,437,523	$5,946,892	$70,860,925	$-509,369
2021	$14,856,609	$5,234,439	$81,202,469	$9,622,170
2020	$5,981,830	$5,219,017	$66,122,521	$762,813
2019	$7,895,464	$4,273,383	$57,460,240	$3,622,081
2018	$10,501,287	$3,572,708	$46,743,484	$6,928,579