Foundations in Education Inc

EIN: 475130557 501(c)(3) Philanthropy & Grantmaking

Shelton, CT

Total Revenue
$17,351,326
Total Expenses
$6,605,146
Total Assets
$59,771,846
Net Assets
$55,696,913
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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
2015
Legal Domicile
CT
Principal Officer
HOLLY DOHERTY-LEMOINE
Phone
2034161642
Tax Period
2024-07-01 to 2025-06-30

Foundations in Education Inc, founded in 2015, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $17.4M in total revenue in fiscal year 2024. Revenue surged 156% from the prior year, signaling strong growth momentum. The organization ran a surplus of $10.7M, a strong 62% operating margin.

Mission

TO STRENGHTEN AND TRANSFORM THE MISSION OF CATHOLIC EDUCATION IN THE DIOCESE OF BRIDGEPORT BY PROVIDING TUITION ASSISTANCE, SUPPORTING INNOVATION, AND DEVELOPMENT OF LEADERS

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $14,271,322
Program Service Revenue $0
Investment Income $2,966,658
Other Revenue $113,346
TOTAL REVENUE $17,351,326

Expense Breakdown

Grants Paid $5,942,478
Salaries & Benefits $485,524
Fundraising Expenses $233,411
Program Expenses $6,079,307
Other Expenses $177,144
TOTAL EXPENSES $6,605,146

Year-over-Year Comparison

2024 2023 Change
Revenue $17,351,326 $6,777,905 +1.6%
Expenses $6,605,146 $6,054,931 +0.1%
Net Income $10,746,180 $722,974 +13.9%
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

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Governance

Voting Members
27
Independent Members
24
Employees
4
Volunteers
62

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
5
$471,809
Total Directors
26
$526,719
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Michael Hanlon Treasurer - Term. 12/1/24 1.0
Officer Director
$0 $12,802 $268,850
Anne O McCrory TRUSTEE 1.0
Director
$0 $12,279 $257,869
Holly Doherty-Lemoine Executive Director 50.0
Officer
$190,916 $12,043 $202,959
Thomas E McInerney TRUSTEE 1.0
Director
$0 $0 $0
Dr Julia McNamara Trustee 1.0
Director
$0 $0 $0
Bernard Reidy Trustee 1.0
Director
$0 $0 $0
David Cappiello Trustee 1.0
Director
$0 $0 $0
Joseph Purcell CHAIRMAN 1.0
Officer Director
$0 $0 $0
George Coleman Trustee 1.0
Director
$0 $0 $0
Andrea Maldon Trustee 1.0
Director
$0 $0 $0
Sister Mary Grace Walsh Trustee 1.0
Director
$0 $0 $0
Leslie Lopez Trustee 1.0
Director
$0 $0 $0
Michele Mitola SECRETARY 1.0
Officer Director
$0 $0 $0
Tim Fitzpatrick Trustee 1.0
Director
$0 $0 $0
Jennifer St Victor - de Pinho Trustee 1.0
Director
$0 $0 $0
Tom McDevitt Trustee 1.0
Director
$0 $0 $0
GEOFFREY Raker Trustee 1.0
Director
$0 $0 $0
Barbara Ripp Trustee 1.0
Director
$0 $0 $0
Henry Rondon Trustee 1.0
Director
$0 $0 $0
Lisa Ferraro Martino Trustee 1.0
Director
$0 $0 $0
PAULA SUMMA Treasurer 1.0
Officer Director
$0 $0 $0
Joseph Rahtelli III Trustee 1.0
Director
$0 $0 $0
Allison Reiling Trustee 1.0
Director
$0 $0 $0
Tom Cassidy Trustee - Starting 12/1/24 1.0
Director
$0 $0 $0
John Corraro Trustee - Starting 12/1/24 1.0
Director
$0 $0 $0
Kara Klein Trustee - Starting 12/1/24 1.0
Director
$0 $0 $0
Joseph Matthews Trustee - Starting 12/1/24 1.0
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
2025 $17,351,326 $6,605,146 $59,771,846 $10,746,180
2024 $6,777,905 $6,054,931 $43,643,954 $722,974
2023 $7,032,652 $6,118,695 $40,425,890 $913,957
2022 $11,526,982 $5,853,047 $36,181,181 $5,673,935
2021 $7,774,687 $7,638,169 $35,937,020 $136,518
2020 $5,817,272 $5,023,515 $30,835,511 $793,757
2019 $12,146,064 $4,690,676 $17,853,034 $7,455,388
2018 $9,460,447 $3,129,478 $10,481,744 $6,330,969
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