CLCET INC

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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

ADAM SALZMAN

Phone

7737311762

Tax Period

2017-07-01 to 2018-06-30

CLCET INC, founded in 1997, is a micro nonprofit that reported $10K in total revenue in fiscal year 2017. Revenue decreased 19% compared to the prior year. Expenses of $330K exceeded revenue, resulting in a 3313% operating deficit.

Mission

ORGANIZED EXCLUSIVELY TO SUPPORT CHARITABLE PURPOSES AS A PROPERTY TITLE HOLDING CORPORATION FOR THE CHICAGO LEGAL CLINIC, INC., A 501(C)(3) ORGANIZATION.

Program Service Accomplishments

Program 1

Expenses: $330,120

ORGANIZED EXCLUSIVELY TO SUPPORT CHARITABLE PURPOSES AS A TITLE HOLDING CORPORATION FOR THE CHICAGO LEGAL CLINIC, INC. (EIN - 36-3200465), A 501(C)(3) ORGANIZATION. IN MARCH OF 2017, THE ORGANIZATION SOLD ALL PROPERTY IT HELD AS A TITLE HOLDING CORPORATION TO AN UNRELATED THIRD-PARTY. IN AUGUST OF 2017, THE ORGANIZATION FILED ARTICLES OF DISSOLUTION WITH THE OFFICE OF THE SECRETARY OF STATE OF ILLINOIS AND DISCONTINUED ALL OPERATIONS. ALL REMAINING ASSETS AND ANY OBLIGATIONS OF THE ORGANIZATION WERE GRANTED OR TRANSFERRED TO CHICAGO LEGAL CLINIC, INC.

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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 (2017)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $-2,067

Other Revenue $11,739

TOTAL REVENUE $9,672

Expense Breakdown

Grants Paid $330,120

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $330,120

Other Expenses $0

TOTAL EXPENSES $330,120

Year-over-Year Comparison

	2017	2016	Change
Revenue	$9,672	$11,955	-0.2%
Expenses	$330,120	N/A	N/A
Net Income	$-320,448	$11,955	-27.8%

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

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

$180,248

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN T FISTER	PRESIDENT	0.25	Director	$0	$0	$0
LOUIS M BRUNO	TREASURER	0.25	Director	$0	$0	$0
DOUGLAS KNUTH	SECRETARY	0.25	Director	$0	$0	$0
ANGELA HURLOCK	DIRECTOR	0.25	Director	$0	$0	$0
MARTA C BUKATA	DEPUTY DIRECTOR	1.00	Officer	$0	$8,080	$87,130
ADAM SALZMAN	EXEC DIRECTOR	1.00	Officer	$0	$2,245	$93,118

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
2018	$9,672	$330,120	No data	$-320,448