FORSGATE FOUNDATION INC (EIN 270067456) - 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

2003

Legal Domicile

Principal Officer

LEMIA MARINELLI

Phone

7326568911

Tax Period

2022-01-01 to 2022-12-31

FORSGATE FOUNDATION INC, founded in 2003, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $230K in total revenue in fiscal year 2022. Revenue surged 46% from the prior year, signaling strong growth momentum. Expenses of $219K left a modest 5% surplus.

Mission

THE FOUNDATION WAS FORMED EXCLUSIVELY TO RECEIVE AND ADMINISTER FUNDS FOR SCIENTIFIC, EDUCATIONAL AND CHARITABLE PURPOSES. THE FOUNDATION SPONSORS SPECIAL EVENTS TO SUPPORT LOCAL NOT-FOR-PROFIT CHARITIES.

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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 (2022)

Revenue Breakdown

Contributions & Grants $159,297

Program Service Revenue $0

Investment Income $0

Other Revenue $70,629

TOTAL REVENUE $229,926

Expense Breakdown

Grants Paid $206,816

Salaries & Benefits $0

Fundraising Expenses $3,335

Program Expenses $206,816

Other Expenses $8,545

TOTAL EXPENSES $218,696

Year-over-Year Comparison

	2022	2021	Change
Revenue	$229,926	$156,972	+0.5%
Expenses	$218,696	$152,436	+0.4%
Net Income	$11,230	$4,536	+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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER SCHIAVONE	CHAIRMAN & TRUSTEE	7.50	Officer Director	$0	$0	$0
RONALD A SCHIAVONE	EXECUTIVE DIRECTOR & TRUSTEE	7.50	Officer Director	$0	$0	$0
LEMIA MARINELLI	TREASURER & TRUSTEE	7.50	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
2022	$229,926	$218,696	$23,576	$11,230
2021	$156,972	$152,436	$30,533	$4,536
2019	$156,468	$149,781	$17,198	$6,687
2018	$428,986	$160,499	$12,047	$268,487

FORSGATE FOUNDATION INC