PALMA SCHOOL FOUNDATION

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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

2013

Legal Domicile

Principal Officer

MATTHEW OTTONE

Phone

8317582401

Tax Period

2023-01-01 to 2023-12-31

PALMA SCHOOL FOUNDATION, founded in 2013, is a small nonprofit in the Education sector that reported $292K in total revenue in fiscal year 2023. Revenue fell 50% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $182K, a strong 62% operating margin.

Mission

TO PROVIDE SUPPLEMENTAL FINANCIAL SUPPORT FOR THE EDUCATIONAL PROGRAMS AND SERVICES PROVIDED BY PALMA SCHOOL FOR THE BENEFIT OF ITS STUDENTS AND COMMUNITY, CONSISTENT WITH THE SCHOOLS MISSION TO PROVIDE YOUNG MEN AN EXCELLENT COLLEGE PREPARATIORY EDUCATION IN A ROMAN CATHOLIC ENVIRONMENT THAT EMBRACES THE ESSENTIAL ELEMENTS OF AN EDMUND RICE CHRISTIAN BROTHER EDUCATION AND CHALLENGES EACH INDIVIDUAL TO DEVELOP SPIRITUALLY, INTELLECTUALLY, MORALLY, PHYSICALLY, AND SOCIALLY.

Program Service Accomplishments

Program 1

Expenses: $110,227

TO RAISE FUNDS FOR STUDENT SUPPORT, SPECIFICALLY FOR FINANCIAL AID AND SCHOLARSHIPS.

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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 $292,145

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $292,145

Expense Breakdown

Grants Paid $1,551

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $110,227

Other Expenses $108,676

TOTAL EXPENSES $110,227

Year-over-Year Comparison

	2023	2022	Change
Revenue	$292,145	$587,205	-0.5%
Expenses	$110,227	$21,388	+4.2%
Net Income	$181,918	$565,817	-0.7%

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
MATTHEW OTTONE	PRESIDENT	2.00	Officer Director	$0	$0	$0
JOHN MAZZEI	SECRETARY	1.00	Officer Director	$0	$0	$0
PHIL TRINGALI	DIRECTOR	1.00	Director	$0	$0	$0
JOHN MCCARTHY	DIRECTOR	1.00	Director	$0	$0	$0
AMY HAAS	DIRECTOR	1.00	Director	$0	$0	$0
KIM COSTA	DIRECTOR	1.00	Director	$0	$0	$0
MARK CLIFTON	DIRECTOR	1.00	Director	$0	$0	$0
GINA COCHETTI	DIRECTOR	1.00	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	$292,145	$110,227	$2,486,871	$181,918
2022	$587,205	$21,388	$2,304,953	$565,817
2021	$518,759	$65,821	$1,741,786	$452,938
2020	$1,288,566	$2,368	$1,287,548	$1,286,198