FRIENDS OF CATHOLIC EDUCATION INC (EIN 521659600) - 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

1989

Legal Domicile

Principal Officer

MICHAEL KINLEY

Phone

3018467804

Tax Period

2024-07-01 to 2025-06-30

FRIENDS OF CATHOLIC EDUCATION INC, founded in 1989, is a small nonprofit that reported $281K in total revenue in fiscal year 2024. Revenue surged 39% from the prior year, signaling strong growth momentum. Expenses of $317K exceeded revenue, resulting in a 13% operating deficit.

Mission

FRIENDS OF CATHOLIC EDUCATION, INC. IS AN INDEPENDENT ORGANIZATION DEDICATED TO PROVIDING CATHOLIC SCHOOL EDUCATION, IN FREDERICK COUNTY, FOR ALL WHO SEEK IT. TO ACCOMPLISH THIS, THE ORGANIZATION PROVIDES TUITION ASSISTANCE AND TUITION CREDITS THROUGH BLOCK GRANTS AND SCHOLARSHIPS FOR THE SCHOOLS AND DESERVING 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 (2024)

Revenue Breakdown

Contributions & Grants $186,354

Program Service Revenue $4,525

Investment Income $89,467

Other Revenue $657

TOTAL REVENUE $281,003

Expense Breakdown

Grants Paid $133,173

Salaries & Benefits $113,255

Fundraising Expenses $34,028

Program Expenses $249,673

Other Expenses $70,654

TOTAL EXPENSES $317,082

Year-over-Year Comparison

	2024	2023	Change
Revenue	$281,003	$202,712	+0.4%
Expenses	$317,082	$294,173	+0.1%
Net Income	$-36,079	$-91,461	-0.6%

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

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

$82,535

Total Directors

$79,073

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELE P CORR - EX DIR - 123124	DIRECTOR AS	40.00	Officer Director	$75,611	$0	$75,611
TRACY HICKMAN - DIRECTOR - 12124	EX DIR. AS 1	40.00	Officer Director	$3,462	$0	$3,462
PAULA D'AMORE	EX DIR AS 12	40.00	Officer	$3,462	$0	$3,462
SUE DEWITT	DIRECTOR	1.00	Director	$0	$0	$0
TONI EDWARDS	DIRECTOR	1.00	Director	$0	$0	$0
BRENNAN GMEINER	DIRECTOR	1.00	Director	$0	$0	$0
DAVID GROVE	SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL KINLEY	TREASURER	1.00	Officer Director	$0	$0	$0
FRANK LIPSCOMB	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM G MILANI	PRESIDENT	1.00	Officer Director	$0	$0	$0
DAVID MILLER	DIRECTOR	1.00	Director	$0	$0	$0
JOHN O'BOYLE	DIRECTOR	1.00	Director	$0	$0	$0
TIM O'BOYLE	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL C O'CONNOR	DIRECTOR	1.00	Director	$0	$0	$0
CARY H PLAMONDON	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
BRIAN RIESETT	DIRECTOR	1.00	Director	$0	$0	$0
REVEREND JOHN WILLIAMSON	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
2025	$281,003	$317,082	$4,494,841	$-36,079
2024	$202,712	$294,173	$4,151,328	$-91,461
2023	$173,939	$290,425	$3,782,517	$-116,486
2022	$215,016	$270,529	$3,563,424	$-55,513
2021	$102,702	$254,532	$4,144,521	$-151,830
2020	$140,452	$321,064	$3,453,721	$-180,612
2019	$285,755	$273,352	$3,474,068	$12,403

FRIENDS OF CATHOLIC EDUCATION INC