SPOLETO STUDY ABROAD

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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

1997

Legal Domicile

Principal Officer

LORENZO MUTI

Phone

8436960937

Tax Period

2024-07-01 to 2025-06-30

SPOLETO STUDY ABROAD, founded in 1997, is a small nonprofit in the International Affairs sector that reported $496K in total revenue in fiscal year 2024. Revenue fell 53% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $146K, a strong 30% operating margin.

Mission

SPOLETO STUDY ABROAD IS A COLLABORATIVE COMMUNITY OF ARTISTS AND SCHOLARS GATHERED TO EXPLORE IN DEPTH THE RICH CULTURAL HERITAGE OF CENTRAL ITALY WHILE FOSTERING INDIVIDUAL ARTISTIC, INTELLECTUAL AND PERSONAL GROWTH.

Program Service Accomplishments

Program 1

Expenses: $61,757 Revenue: $123,415

STUDY ABROAD PROGRAM FOR SECONDARY STUDENTS IN ARTS AND HUMANITIES. PROVIDED ADVANCED STUDY AND PERFORMANCE OPPORTUNITIES FOR VOCAL AND INSTRUMENTAL MUSIC, VISUAL ART, CREATIVE WRITING, PHOTOGRAPHY...

Program 2

Expenses: $168,550 Revenue: $349,590

ENRICHMENT PROGRAMS AND TOURS FOR ADULTS AND PROGRAMS DESIGNED TO MEET THE SPECIFIC CURRICULAR NEEDS AND INTERESTS OF A SCHOOL WISHING TO OFFER A SHORT-TERM STUDY ABROAD OPPORTUNITY IN ITALY TO THEIR...

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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 $20,486

Program Service Revenue $473,005

Investment Income $29,966

Other Revenue $-27,742

TOTAL REVENUE $495,715

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $230,307

Other Expenses $349,306

TOTAL EXPENSES $349,306

Year-over-Year Comparison

	2024	2023	Change
Revenue	$495,715	$1,049,425	-0.5%
Expenses	$349,306	$307,869	+0.1%
Net Income	$146,409	$741,556	-0.8%

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
LORENZO MUTI	CO-DIRECTOR	1.00	Officer Director	$0	$0	$0
JILL MUTI	CO-DIRECTOR	1.00	Officer Director	$0	$0	$0
ANTHONY SGRO	BOARD PRESIDENT	0.50	Director	$0	$0	$0
KEVIN MACNEIL	DIRECTOR	0.50	Director	$0	$0	$0
CYNTHIA LANDVATER	DIRECTOR	0.50	Director	$0	$0	$0
ANNE CRAVER	DIRECTOR	0.50	Director	$0	$0	$0
JUDITH YARBROUGH	SECRETARY	0.50	Director	$0	$0	$0
KAREN PHILLIPS	DIRECTOR	0.50	Director	$0	$0	$0
TALMADGE MANGUM	DIRECTOR	0.50	Director	$0	$0	$0
ANNA WHITE HOSEA	DIRECTOR	0.50	Director	$0	$0	$0
JONATHAN D COHEN	DIRECTOR	0.50	Director	$0	$0	$0
THOMAS MORRIS	DIRECTOR	0.50	Director	$0	$0	$0
SARAH SPRINKLE	DIRECTOR	0.50	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	$495,715	$349,306	$2,080,928	$146,409
2024	No data	No data	No data	No data
2023	$469,502	$301,365	$1,971,435	$168,137
2022	$202,983	$163,226	$1,872,261	$39,757
2021	$-19,015	$96,172	$1,860,795	$-115,187
2020	$123,878	$184,848	$1,935,918	$-60,970
2019	$448,761	$331,194	$1,900,313	$117,567
2018	$493,031	$345,602	$795,756	$147,429