INDEPENDENT CONNECTICUT PETROLEUM ASSOCIATION EDUCATION FOUNDATION INC

EIN: 542145297 501(c)(3) Education

CROMWELL, CT

Total Revenue
$837,709
Total Expenses
$844,423
Total Assets
$2,262,985
Net Assets
$1,411,204
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
CT
Principal Officer
CHRISTIAN A HERB
Phone
8606132041
Tax Period
2023-01-01 to 2023-12-31

INDEPENDENT CONNECTICUT PETROLEUM ASSOCIATION EDUCATION FOUNDATION INC, founded in 2004, is a small nonprofit in the Education sector that reported $838K in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year.

Mission

TO OFFER CLASSROOM AND LABORATORY TRAINING IN THE OIL HEATING, VENTILATION AND AIR CONDITIONING DISCIPLINES LEADING TO THE SUCCESSFUL GRADUATE BEING ABLE TO SIT FOR THEIR CONNECTICUT B, S OR D CLASS PROFESSIONAL LICENSES; TO SEEK TO DEVELOP HUMAN RESOURCES; TO DISCOVER AND DISSEMINATE KNOWLEDGE; TO EXTEND KNOWLEDGE AND ITS APPLICATION BEYOND THE BOUNDARIES OF ITS SCHOOL; AND TO SERVE AND STIMULATE SERVICE PROFESSIONALS BY DEVELOPING IN STUDENTS' HEIGHTENED INTELLECTUAL, PROFESSIONAL, AND HUMAN SENSITIVITIES AS WELL AS TECHNOLOGICAL EXPERTISE AND A SENSE OF PURPOSE. INHERENT IN THIS BROAD MISSION ARE METHODS OF INSTRUCTION, EDUCATION AND PUBLIC SERVICE DESIGNED TO EDUCATE PEOPLE AND IMPROVE THE HEATING OIL INDUSTRY'S ABILITY TO GROW AND SERVE ITS CUSTOMERS.

Program Service Accomplishments

Program 1
Expenses: $579,956 Revenue: $568,234

PRIVATE VOCATIONAL TECHNICAL SCHOOL FOR OIL HEATING, VENTILATION, AND AIR-CONDITIONING PROFESSIONALS, SERVING 54 PARTICIPANTS.

Program 2
Expenses: $73,788 Revenue: $165,962

SEMINARS ON TECHNICAL SUBJECTS RELATED TO HEATING AND VENTILATION AND REVIEW CLASSES FOR PROFESSIONAL LICENSING CERTIFICATIONS INCLUDING NORA REIMBURSEMENT; SERVING 293 PARTICIPANTS.

Program 3
Expenses: $38,500

SCHOLARSHIP GIVEN TO THREE INDIVIDUALS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $76,792
Program Service Revenue $734,197
Investment Income $2,417
Other Revenue $24,303
TOTAL REVENUE $837,709

Expense Breakdown

Grants Paid $38,500
Salaries & Benefits $422,529
Fundraising Expenses $0
Program Expenses $692,244
Other Expenses $383,394
TOTAL EXPENSES $844,423

Year-over-Year Comparison

2023 2022 Change
Revenue $837,709 $886,305 -0.1%
Expenses $844,423 $699,292 +0.2%
Net Income $-6,714 $187,013 -1.0%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
31
Independent Members
31
Employees
5
Volunteers
N/A

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
10
$266,596
Total Directors
31
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID DANIELS DIRECTOR 2.00
Director
$0 $0 $0
DAVID FOSTER BOARD CHAIR/PAST CHAIR 2.00
Officer Director
$0 $0 $0
FRANK TROIANO DIRECTOR 2.00
Director
$0 $0 $0
FRED LORD TREASURER/SECRETARY 4.00
Officer Director
$0 $0 $0
GARY SIPPIN BOARD CHAIR/PAST CHAIR 4.00
Officer Director
$0 $0 $0
HOWARD PETERSON DIRECTOR 2.00
Director
$0 $0 $0
JOHN MCCUSKER DIRECTOR 2.00
Director
$0 $0 $0
JOHN BOWMAN DIRECTOR 2.00
Director
$0 $0 $0
JENNIFER TRACEY-CARLO DIRECTOR 2.00
Director
$0 $0 $0
DAVID SOUSA DIRECTOR 2.00
Director
$0 $0 $0
JEFF JENNINGS DIRECTOR 2.00
Director
$0 $0 $0
MATTHEW MITCHELL DIRECTOR 2.00
Director
$0 $0 $0
PETER AZIZ BOARD CHAIR/PAST CHAIR 2.00
Officer Director
$0 $0 $0
PETER RUSSELL BOARD CHAIR/PAST CHAIR 2.00
Officer Director
$0 $0 $0
RICHARD GADA SR DIRECTOR 2.00
Director
$0 $0 $0
RICK BOLOGNA BOARD CHAIR/PAST CHAIR 2.00
Officer Director
$0 $0 $0
ROYCE FRIEDMAN DIRECTOR 2.00
Director
$0 $0 $0
SAMUEL GAULT DIRECTOR 2.00
Director
$0 $0 $0
SHARON PETERSON DIRECTOR 2.00
Director
$0 $0 $0
STEPHEN G ROSENTEL DIRECTOR 2.00
Director
$0 $0 $0
STEPHEN H SACK JR CHAIRMAN/DIRECTOR 2.00
Officer Director
$0 $0 $0
ERIC GOTTIER DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL MATARESE VISE PRESIDENT 2.00
Officer Director
$0 $0 $0
KATIE CHILDS IMMEDIATE PAST CHAIR 4.00
Officer Director
$0 $0 $0
GEORGE PERRELLI DIRECTOR 2.00
Director
$0 $0 $0
SUSAN SANTOPIETRO DIRECTOR 2.00
Director
$0 $0 $0
GREG STAFSTORM DIRECTOR 2.00
Director
$0 $0 $0
JAMIE DENSMORE DIRECTOR 2.00
Director
$0 $0 $0
CATHY ERASMUS DIRECTOR 2.00
Director
$0 $0 $0
RICK JOHNSON DIRECTOR 2.00
Director
$0 $0 $0
PAULA RYAN DIRECTOR 2.00
Director
$0 $0 $0
CHRISTIAN A HERB PRESIDENT 40.00
Officer
$0 $31,213 $266,596
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 $837,709 $844,423 $2,262,985 $-6,714
2022 $886,305 $699,292 $2,144,017 $187,013
2021 $711,879 $607,691 $2,074,200 $104,188
2020 $644,119 $535,370 $1,835,141 $108,749
2019 $758,906 $608,093 $1,626,773 $150,813
2018 $925,908 $583,453 $1,462,567 $342,455
Explore More Nonprofits
→Top 100 Nonprofits in Connecticut →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare INDEPENDENT CONNECTICUT PETROLEUM ASSOCIATION EDUCATION FOUNDATION INC with other nonprofits in Connecticut and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.