NEW HORIZONS EDUCATIONAL 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

1997

Legal Domicile

Principal Officer

HEATHER CORDASCO

Phone

7577661100

Tax Period

2024-07-01 to 2025-06-30

NEW HORIZONS EDUCATIONAL FOUNDATION, founded in 1997, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. The organization ran a surplus of $643K, a strong 57% operating margin.

Mission

PROMOTE VOCATIONAL, SCIENCE AND TECHNOLOGY EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $35,550

PROVIDE EDUCATIONAL SCHOLARSHIPS TO 12 STUDENTS AND FINANCIAL ASSISTANCE (HONORARIUMS)TO 36 INDIVIDUALS TO PURCHASE THE NECESSARY INCIDENTALS TO ENTER THE WORKPLACE.

Program 2

Expenses: $86,877

PROVIDE FUNDS TO NEW HORIZONS REGIONAL EDUCATION CENTER FOR PROGRAMS, EQUIPMENT, STAFF TRAINING, AND STUDENT INCENTIVES.

Program 3

Expenses: $359,930 Revenue: $1,027,842

A SPECIAL EDUCATION FACILITY IS BEING LEASED TO NEW HORIZONS REGIONAL EDUCATION CENTER FOR 15 YEARS (THE TERM OF THE BOND DEBT USED TO CONSTRUCT THE FACILILTY AS DESCRIBED IN SCHEDULE O). THE LEASE...

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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 $101,560

Program Service Revenue $1,027,848

Investment Income $12,087

Other Revenue $-12,805

TOTAL REVENUE $1,128,690

Expense Breakdown

Grants Paid $122,427

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $482,357

Other Expenses $362,836

TOTAL EXPENSES $485,263

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,128,690	$1,276,138	-0.1%
Expenses	$485,263	$505,381	0.0%
Net Income	$643,427	$770,757	-0.2%

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
HEATHER CORDASCO	BOARD PRESID	0.50	Director	$0	$0	$0
JEFFREY CLEMONS	DIRECTOR	0.50	Director	$0	$0	$0
DUDLEY HARRIS	BOARD VICE P	0.50	Director	$0	$0	$0
WALT GRAHAM	BOARD SEC/TR	0.50	Director	$0	$0	$0
ROBERT T CRINER	DIRECTOR	0.50	Director	$0	$0	$0
LATITIA D MCCANE	DIRECTOR	0.50	Director	$0	$0	$0
SHERRI MCQUILLAN	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT S MCKENNA	DIRECTOR	0.50	Director	$0	$0	$0
RHONDA BUNN	DIRECTOR	0.50	Director	$0	$0	$0
M KENNETH TAYLOR JR	DIRECTOR	0.50	Director	$0	$0	$0
BRENT BAUMBERGER	DIRECTOR	0.50	Director	$0	$0	$0
RICHARD B DONALDSON	DIRECTOR	0.50	Director	$0	$0	$0
KIMBERLEE HUMPHREY	DIRECTOR	0.50	Director	$0	$0	$0
KELLY ALLMON	DIRECTOR	0.50	Director	$0	$0	$0
MARK J ADAMS	DIRECTOR	0.50	Director	$0	$0	$0
JIM KELLY	DIRECTOR	0.50	Director	$0	$0	$0
WILLIAM WALSH	DIRECTOR	0.50	Director	$0	$0	$0
DAVID MURRAY	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL HAMILTON	DIRECTOR	0.50	Director	$0	$0	$0
RICK GALLAER	DIRECTOR	0.50	Director	$0	$0	$0
CRAIG TOPPING	DIRECTOR	0.50	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	$1,128,690	$485,263	$9,281,376	$643,427
2024	No data	No data	No data	No data
2023	$1,207,997	$563,413	$9,613,611	$644,584
2022	$1,177,888	$620,534	$9,814,842	$557,354
2021	$1,227,134	$651,718	$10,084,487	$575,416
2020	$1,176,752	$683,576	$10,338,726	$493,176
2019	$1,179,042	$732,084	$10,630,916	$446,958
2018	$1,134,749	$1,257,447	$11,050,869	$-122,698