THE ELLINGTON FUND (EIN 521152273) - 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

1978

Legal Domicile

Principal Officer

SANDI M LOGAN

Phone

2022820123

Tax Period

2023-10-01 to 2024-09-30

THE ELLINGTON FUND, founded in 1978, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2023. Revenue fell 55% from the prior year — a significant decline worth monitoring. Expenses of $2.2M exceeded revenue, resulting in a 39% operating deficit.

Mission

TO SPONSOR, MAINTAIN AND FINANCIALLY SUPPORT THE VARIOUS PROGRAMS AND ACTIVITIES OF THE DUKE ELLINGTON SCHOOL OF THE ARTS, INCLUDING CURRICULUM PROGRAMS, STUDENT SUPPORT FUNCTIONS, ART AND ACADEMIC DISCIPLINES AND COURSES, PRODUCTIONS, EXHIBITS, CONCERTS, WORKSHOPS AND EDUCATIONAL SEMINARS, AND TO PROVIDE SCHOLARSHIP ASSISTANCE TO GRADUATES OF THE DUKE ELLINGTON SCHOOL IN PURSUIT OF COLLEGE OR PROFESSIONAL CAREERS; TO SUPPORT, PROMOTE AND EMPOWER THE NEXT GENERATION OF EMERGING ARTISTS, GLOBAL CITIZENS, AND CRITICAL SCHOLARS BY INVESTING IN THEIR FUTURES TODAY.

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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 $493,438

Program Service Revenue $260

Investment Income $1,069,790

Other Revenue $0

TOTAL REVENUE $1,563,488

Expense Breakdown

Grants Paid $1,671,921

Salaries & Benefits $0

Fundraising Expenses $9,208

Program Expenses $1,671,921

Other Expenses $495,535

TOTAL EXPENSES $2,167,456

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,563,488	$3,487,672	-0.6%
Expenses	$2,167,456	$2,402,241	-0.1%
Net Income	$-603,968	$1,085,431	-1.6%

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

$504,957

Total Directors

$226,930

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SANDI M LOGAN	EXECUTIVE DIRECTOR	8.00	Officer	$0	$8,214	$324,979
LEE JACKSON	DIRECTOR OF FINANCE	8.00	Officer	$0	$5,224	$179,978
ROBIN HARRIS	MEMBER UNTIL DEC. 2023	1.00	Director	$0	$7,006	$144,619
PENNY HOLLIS	MEMBER	8.00	Director	$0	$4,838	$82,311
ARI FITZGERALD	PRESIDENT	5.00	Officer Director	$0	$0	$0
BRENDA MORRIS	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
PRISCILLA CLARKE	SECRETARY	2.00	Officer Director	$0	$0	$0
MATTHEW GRAY	TREASURER	2.00	Officer Director	$0	$0	$0
AMY KAUFFMAN VICE PRESIDENT	UNTIL FEB. 2024, THEN MEMBER	2.00	Officer Director	$0	$0	$0
ANNIE WHATLEY	MEMBER	2.00	Director	$0	$0	$0
JULIA MASSIMINO	MEMBER	1.00	Director	$0	$0	$0
STACIE LEE BANKS	MEMBER	1.00	Director	$0	$0	$0
SHERRI N BLOUNT	MEMBER	1.00	Director	$0	$0	$0
EDWARD L COHEN	MEMBER	1.00	Director	$0	$0	$0
MICHELLE PERSAUD	MEMBER	1.00	Director	$0	$0	$0
MARCUS R JOHNSON	MEMBER	1.00	Director	$0	$0	$0
STEVEN RABINOWITZ	MEMBER	1.00	Director	$0	$0	$0
ELIOT BATTLE MD	MEMBER	1.00	Director	$0	$0	$0
FRANCESCA V CRAIG	MEMBER	1.00	Director	$0	$0	$0
SYLVIA DAVIS WHITE	MEMBER	1.00	Director	$0	$0	$0
KAHTLEEN BUHLE	MEMBER	2.00	Director	$0	$0	$0
STEPHANIE PHILLIPS	MEMBER	1.00	Director	$0	$0	$0
AMBER GOLDEN	MEMBER	2.00	Director	$0	$0	$0
ZACH GILLIS	MEMBER	1.00	Director	$0	$0	$0
ZACHARY COOPER CAFRITZ	MEMBER	1.00	Director	$0	$0	$0
MICHELLE COBB	MEMBER	1.00	Director	$0	$0	$0
QUINTA JACKSON	MEMBER	1.00	Director	$0	$0	$0
BRANDON TODD	MEMBER	1.00	Director	$0	$0	$0
LAURIE MOSKOWITZ	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	$1,563,488	$2,167,456	$26,920,408	$-603,968
2023	$3,487,672	$2,402,241	$23,526,515	$1,085,431
2022	$2,700,179	$1,880,701	$22,261,775	$819,478
2021	$1,972,185	$1,528,584	$25,535,117	$443,601
2020	$-1,666,528	$1,694,981	$22,478,118	$-3,361,509
2019	$1,763,753	$1,221,739	$23,630,142	$542,014
2018	$1,683,628	$1,980,083	$23,246,492	$-296,455

THE ELLINGTON FUND