STUDENT FINANCIAL AID ASSOCIATION

EIN: 356024366 501(c)(3) Education

EVANSVILLE, IN

Total Revenue
$120,502
Total Expenses
$60,804
Total Assets
$586,980
Net Assets
$586,980
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1958
Legal Domicile
IN
Principal Officer
MICHAEL DIRIENZO
Phone
8124233138
Tax Period
2023-01-01 to 2023-12-31

STUDENT FINANCIAL AID ASSOCIATION, founded in 1958, is a small nonprofit in the Education sector that reported $121K in total revenue in fiscal year 2023. The organization ran a surplus of $60K, a strong 50% operating margin.

Mission

TO PROVIDE SCHOLARSHIPS TO COLLEGE AND TRADE SCHOOL STUDENTS WHO HAVE HIGH UNMET FINANCIAL NEEDS BEYOND OTHER SCHOLARSHIPS, GRANTS, AND LOANS. BASED ON ACADEMIC ACHIEVEMENT IN HIGH SCHOOL, COLLEGE OR TRADE SCHOOL, AND SAT OR ACT TEST SCORES, WITHOUT REGARD TO SEX, RACE, RELIGION, OR NATIONAL ORIGIN. AREAS OF EMPHASIS ARE: TEACHING, MUSIC, SCIENCES, NURSING AND BUILDING TRADES.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $45,721
Program Service Revenue $0
Investment Income $74,781
Other Revenue $0
TOTAL REVENUE $120,502

Expense Breakdown

Grants Paid $54,912
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $60,304
Other Expenses $5,892
TOTAL EXPENSES $60,804

Year-over-Year Comparison

2023 2022 Change
Revenue $120,502 $-15,276 -8.9%
Expenses $60,804 $108,446 -0.4%
Net Income $59,698 $-123,722 -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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
9

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
2
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL DIRIENZO PRESIDENT N/A
Officer Director
$0 $0 $0
ROBERT KOZSAN BOARD MEMBER N/A
Director
$0 $0 $0
JORDAN BUECHLER SECRETARY N/A
Officer Director
$0 $0 $0
NICHOLAS WHITT BOARD MEMBER N/A
Director
$0 $0 $0
ERUM SHAFI SYED BOARD MEMBER N/A
Director
$0 $0 $0
CATHERINE NICKENS BOARD MEMBER N/A
Director
$0 $0 $0
JOANNA RINEY BOARD MEMBER N/A
Director
$0 $0 $0
KURT HARRIS BOARD MEMBER N/A
Director
$0 $0 $0
HILLARY HILLENBRAND BOARD MEMBER N/A
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
2024 No data No data No data No data
2023 $120,502 $60,804 $586,980 $59,698
2022 $-15,276 $108,446 $527,282 $-123,722
2021 $170,760 $28,999 $660,119 $141,761
2020 $119,514 $63,642 $517,608 $55,872
2019 $133,407 $29,183 $463,964 $104,224
2018 $39,861 $27,412 $359,428 $12,449
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