ELGIN ACADEMY FOUNDATION (EIN 363911950) - 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

1993

Legal Domicile

Principal Officer

ALAN SCIMECA

Phone

8476950300

Tax Period

2023-07-01 to 2024-06-30

ELGIN ACADEMY FOUNDATION, founded in 1993, is a small nonprofit that reported $128K in total revenue in fiscal year 2023. Revenue fell 37% from the prior year — a significant decline worth monitoring.

Mission

ELGIN ACADEMY FOUNDATION IS ORGANIZED TO SUPPORT ELGIN ACADEMY AND ITS EDUCATIONAL PROGRAMS.

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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 $0

Program Service Revenue $0

Investment Income $127,537

Other Revenue $0

TOTAL REVENUE $127,537

Expense Breakdown

Grants Paid $122,030

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $122,030

Other Expenses $5,507

TOTAL EXPENSES $127,537

Year-over-Year Comparison

	2023	2022	Change
Revenue	$127,537	$203,856	-0.4%
Expenses	$127,537	$286,532	-0.6%
Net Income	$0	$-82,676	-1.0%

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

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
ALAN SCIMECA	PRESIDENT	0.50	Officer Director	$0	$0	$0
MIKE WARREN	VICE-PRESIDENT	0.50	Officer Director	$0	$0	$0
WILLIAM PADULA	SECRETARY / TREASURER	0.50	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
2024	$127,537	$127,537	No data	No data
2023	$203,856	$286,532	$3,760,289	$-82,676
2022	$932,563	$30,938	$5,510,231	$901,625
2021	$213,022	$1,024,202	$6,385,306	$-811,180
2020	$161,867	$224,404	$5,439,745	$-62,537
2019	$241,634	$346,477	$6,483,428	$-104,843
2018	$337,577	$661,307	$6,754,143	$-323,730

ELGIN ACADEMY FOUNDATION