FOUNDATION FOR STUDENT ACHIEVEMENT… - 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

2008

Legal Domicile

Phone

6094037191

Tax Period

2023-07-01 to 2024-06-30

FOUNDATION FOR STUDENT ACHIEVEMENT INC, founded in 2008, is a micro nonprofit that reported $48K in total revenue in fiscal year 2023. Revenue fell 90% from the prior year — a significant decline worth monitoring. Expenses of $418K exceeded revenue, resulting in a 776% operating deficit.

Mission

Organization provides Tuition Assistance and small classroom focused Grants to Catholic Schools in order to foster learning.

Program Service Accomplishments

Program 1

Expenses: $64,528 Revenue: $0

Awards for individual classroom projects in various subjects including Science Literacy Democracy Technology and Math.

Program 2

Expenses: $345,336 Revenue: $0

write off of pledges receivable

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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 $150

Program Service Revenue $0

Investment Income $47,515

Other Revenue $0

TOTAL REVENUE $47,665

Expense Breakdown

Grants Paid $64,528

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $409,864

Other Expenses $353,142

TOTAL EXPENSES $417,670

Year-over-Year Comparison

	2023	2022	Change
Revenue	$47,665	$484,676	-0.9%
Expenses	$417,670	$60,338	+5.9%
Net Income	$-370,005	$424,338	-1.9%

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
Vince Schmidt	Board Member	1.00	Director	$0	$0	$0
Joann Tier	Board Memebr	1.00	Director	$0	$0	$0
Rev Michael Wallack	Board Member	1.00	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	No data	No data	No data	No data
2024	$47,665	$417,670	$1,741,269	$-370,005
2023	$484,676	$60,338	$1,960,250	$424,338
2022	$-226,775	$1,003,981	$1,520,155	$-1,230,756
2021	$611,908	$43,415	$2,744,628	$568,493

FOUNDATION FOR STUDENT ACHIEVEMENT INC