MILFORD SCHOOLS 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

1998

Legal Domicile

Principal Officer

LARRY HEYEN

Phone

4027613321

Tax Period

2023-01-01 to 2023-12-31

MILFORD SCHOOLS FOUNDATION, founded in 1998, is a small nonprofit in the Education sector that reported $288K in total revenue in fiscal year 2023. Revenue surged 104% from the prior year, signaling strong growth momentum. The organization ran a surplus of $118K, a strong 41% operating margin.

Mission

PROVIDE SCHOLARSHIPS TO GRADUATES OF MILFORD PUBLIC SCHOOLS AS WELL AS PROVIDE ENHANCED EDUCATIONAL OPPORTUNITIES FOR CURRENT STUDENTS.

Program Service Accomplishments

Program 1

Expenses: $169,530 Revenue: $72,675

PROVIDE SCHOLARSHIPS TO GRADUATING SENIORS OF MILFORD PUBLIC SCHOOLS AS WELL AS PROVIDE ENHANCED EDUCATIONAL OPPORTUNITIES FOR CURRENT STUDENTS.

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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 $94,333

Program Service Revenue $120,723

Investment Income $72,676

Other Revenue $0

TOTAL REVENUE $287,732

Expense Breakdown

Grants Paid $111,500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $169,530

Other Expenses $58,030

TOTAL EXPENSES $169,530

Year-over-Year Comparison

	2023	2022	Change
Revenue	$287,732	$140,786	+1.0%
Expenses	$169,530	$423,885	-0.6%
Net Income	$118,202	$-283,099	-1.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEE ERB	SECRETARY	1.00	Officer Director	$0	$0	$0
GREG DUNLAP	BOARD MEMBER	1.00	Director	$0	$0	$0
LARRY HEYEN	PRESIDENT	1.00	Officer Director	$0	$0	$0
ROBERT L WERGIN	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTINE TRUHE	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVE WELSCH	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN WINGARD	BOARD MEMBER	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	$287,732	$169,530	$3,359,768	$118,202
2022	$140,786	$423,885	$3,241,566	$-283,099
2021	$510,763	$107,056	$3,524,665	$403,707
2020	$305,684	$101,762	$3,120,958	$203,922
2019	$476,960	$97,239	$2,917,036	$379,721
2018	$127,388	$172,403	$2,537,315	$-45,015