ELLIOTT FAMILY TRUSTFBO SOMERSET COMM COLLEGE (EIN 306069516) - 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

KENTUCKY TRUST COMPANY

Phone

8592399000

Tax Period

2024-01-01 to 2024-12-31

ELLIOTT FAMILY TRUSTFBO SOMERSET COMM COLLEGE, founded in 2003, is a micro nonprofit in the Education sector that reported $83K in total revenue in fiscal year 2024. Revenue surged 124% from the prior year, signaling strong growth momentum. The organization ran a surplus of $39K, a strong 47% operating margin.

Mission

TO PROVIDE SCHOLARSHIPS FOR CASEY COUNTY STUDENTS TO ATTEND SOMERSET COMMUNITY COLLEGE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $76,946

Other Revenue $5,606

TOTAL REVENUE $82,552

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,080

Fundraising Expenses $0

Program Expenses $34,838

Other Expenses $35,758

TOTAL EXPENSES $43,838

Year-over-Year Comparison

	2024	2023	Change
Revenue	$82,552	$36,783	+1.2%
Expenses	$43,838	$41,602	+0.1%
Net Income	$38,714	$-4,819	-9.0%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	TRUSTEE	1.00		$8,080	$0	$8,080

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	$82,552	$43,838	$863,962	$38,714
2023	$36,783	$41,602	$825,248	$-4,819
2022	$39,634	$35,818	$830,067	$3,816
2021	$48,140	$35,254	$826,251	$12,886
2020	$35,147	$38,256	$813,365	$-3,109
2019	$37,799	$39,071	$816,474	$-1,272
2018	$37,661	$37,287	$817,746	$374

ELLIOTT FAMILY TRUSTFBO SOMERSET COMM COLLEGE