INDEPENDENT CONNECTICUT PETROLEUM ASSOCIATION EDUCATION FOUNDATION INC (EIN 542145297) - 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

2004

Legal Domicile

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

NOT-FOR-PROFIT HIGHER EDUCATION INSTITUTE.

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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 $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

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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

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

$266,596

Total Directors

Key Employees

Highest Compensated

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

INDEPENDENT CONNECTICUT PETROLEUM ASSOCIATION EDUCATION FOUNDATION INC