SULLIVAN SCHOLARS FOUNDATION (EIN 421763846) - 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

2007

Legal Domicile

Principal Officer

FRANK SULLIVAN

Phone

2168613810

Tax Period

2023-01-01 to 2023-12-31

SULLIVAN SCHOLARS FOUNDATION, founded in 2007, is a small nonprofit in the Education sector that reported $153K in total revenue in fiscal year 2023. Revenue fell 51% from the prior year — a significant decline worth monitoring. Expenses of $284K exceeded revenue, resulting in a 85% operating deficit.

Mission

THE ORGANIZATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF, AND TO CARRY OUT THE CHARITABLE AND EDUCATIONAL FUNCTIONS OF THE CLEVELAND FOUNDATION.

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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 $153,081

Other Revenue $0

TOTAL REVENUE $153,081

Expense Breakdown

Grants Paid $215,609

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $215,609

Other Expenses $68,208

TOTAL EXPENSES $283,817

Year-over-Year Comparison

	2023	2022	Change
Revenue	$153,081	$312,197	-0.5%
Expenses	$283,817	$265,470	+0.1%
Net Income	$-130,736	$46,727	-3.8%

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

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

$437,817

Total Directors

$263,026

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANK C SULLIVAN	CHAIRMAN & TRUSTEE	1.00	Officer Director	$0	$0	$0
T SEAN SULLIVAN	TRUSTEE	0.50	Director	$0	$0	$0
JULIE SULLIVAN GRAHAM	TRUSTEE	0.50	Director	$0	$0	$0
KAREN MELTON	TRUSTEE	0.50	Director	$0	$0	$0
HELEN WILLIAMS	TRUSTEE	0.50	Director	$0	$43,178	$263,026
JIMMY MALONE	TRUSTEE	0.50	Director	$0	$0	$0
SARA ELAQAD	TRUSTEE (UNTIL 7/7/23)	0.50	Director	$0	$0	$0
GINGER F MLAKAR	SECRETARY	0.50	Officer	$0	$51,600	$268,842
ANTHONY GATTUSO	TREASURER	0.50	Officer	$0	$42,109	$168,975

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	$153,081	$283,817	$5,020,504	$-130,736
2022	$312,197	$265,470	$4,585,047	$46,727
2021	$463,349	$266,232	$5,598,259	$197,117
2020	$497,427	$275,443	$5,158,665	$221,984

SULLIVAN SCHOLARS FOUNDATION