SPENCER EDUCATIONAL FOUNDATION INC

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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

1979

Legal Domicile

Principal Officer

MEGAN MILLER

Phone

2126556208

Tax Period

2024-01-01 to 2024-12-31

SPENCER EDUCATIONAL FOUNDATION INC, founded in 1979, is a community nonprofit in the Education sector that reported $3.6M in total revenue in fiscal year 2024. Revenue surged 43% from the prior year, signaling strong growth momentum. Expenses of $3.1M left a modest 13% surplus.

Mission

TO FACILITATE THE FUNDING OF TOMORROW'S RISK MANAGEMENT AND INSURANCE LEADERS THROUGH SCHOLARSHIPS, GRANTS, INTERNSHIP OPPORTUNITIES, ON AND OFF CAMPUS EXPERIENTIAL LEARNING, AND SUPPORT OF RISK MANAGEMENT CURRICULA.

Program Service Accomplishments

Program 1

Expenses: $717,500

SCHOLARSHIPS - RISK MANAGEMENT AND INSURANCE STUDENTS ARE AT THE HEART OF EVERYTHING SPENCER DOES. SPENCER AWARDS UNDERGRADUATE, GRADUATE, AND PH.D. SCHOLARSHIPS TO STUDENTS STUDYING AT INSTITUTIONS IN THE UNITED STATES AND CANADA, AS WELL AS PART-TIME GRADUATE SCHOLARSHIPS TO RISK AND INSURANCE PROFESSIONALS CONTINUING THEIR EDUCATION.DURING 2024, SPENCER AWARDED 105 IN SCHOLARSHIPS

Program 2

Expenses: $375,729

GENERAL GRANTS - SPENCER'S GRANTS PROGRAM SUPPORTS INITIATIVES THAT ALIGN WITH THE FOUNDATION'S MISSION TO FUND THE EDUCATION OF TOMORROW'S RISK MANAGEMENT AND INSURANCE LEADERS. SPENCER CONSIDERS...

GENERAL GRANTS - SPENCER'S GRANTS PROGRAM SUPPORTS INITIATIVES THAT ALIGN WITH THE FOUNDATION'S MISSION TO FUND THE EDUCATION OF TOMORROW'S RISK MANAGEMENT AND INSURANCE LEADERS. SPENCER CONSIDERS GRANT PROPOSALS THAT FALL IN THE FOLLOWING TWO CRITICAL BRANCHES: 1. PROVIDE EXPERIENTIAL LEARNING OPPORTUNITIES FOR RISK MANAGEMENT AND INSURANCE STUDENTS, AND 2. ATTRACT NEW TALENT TO THE INDUSTRY.DURING 2024, SPENCER AWARDED 24 GENERAL GRANTS

Program 3

Expenses: $236,615

INTERNSHIPS - THROUGH OUR INTERNSHIP GRANT PROGRAM, SPENCER AIMS TO SUPPORT TOMORROW'S RISK MANAGEMENT AND INSURANCE LEADERS THROUGH EXPERIENTIAL LEARNING OPPORTUNITIES. SPENCER PROVIDES INTERNSHIP GRANTS OF UP TO $7,500 TO RISK MANAGERS TO HIRE INTERNS IN THE RISK MANAGEMENT FUNCTION OF THEIR ORGANIZATIONS. EMPLOYERS APPLY FOR THE GRANTS FROM SPENCER, AND STUDENTS THEN APPLY DIRECTLY WITH THE COMPANIES FOR THE INTERNSHIP OPPORTUNITIES.DURING 2024, SPENCER AWARDED 31 INTERSHIP GRANTS

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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 $3,076,775

Program Service Revenue $0

Investment Income $469,737

Other Revenue $8,547

TOTAL REVENUE $3,555,059

Expense Breakdown

Grants Paid $1,867,354

Salaries & Benefits $923,997

Fundraising Expenses $127,134

Program Expenses $2,792,314

Other Expenses $292,207

TOTAL EXPENSES $3,083,558

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,555,059	$2,484,287	+0.4%
Expenses	$3,083,558	$2,733,177	+0.1%
Net Income	$471,501	$-248,890	-2.9%

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

$420,436

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN ACUNTO JR	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH CELLURA	DIRECTOR	1.00	Director	$0	$0	$0
DR CASSANDRA COLE	DIRECTOR	1.00	Director	$0	$0	$0
RON DAVIS RETIRED 112024	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA M DUDEK	DIRECTOR	1.00	Director	$0	$0	$0
DUNCAN ELLIS	DIRECTOR	1.00	Director	$0	$0	$0
JULIE GIBSON	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER J LANG RET 121124	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH V LAROCCO JR	DIRECTOR	1.00	Director	$0	$0	$0
DR WEILI LU	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE MCLANE JOINED 1124	DIRECTOR	1.00	Director	$0	$0	$0
B PUCKETT GALLAGHER	DIRECTOR	1.00	Director	$0	$0	$0
MICHELE J SANSONE	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW SCHNEIDER RETIRED 121124	DIRECTOR	1.00	Director	$0	$0	$0
LORI SEIDENBERG RETIRED 1124	DIRECTOR	1.00	Director	$0	$0	$0
BEN SLOOP	DIRECTOR	1.00	Director	$0	$0	$0
SUE SRINIVASAN	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH RICCIARDELLI	DIRECTOR	1.00	Director	$0	$0	$0
ROBIN ROEDER	DIRECTOR	1.00	Director	$0	$0	$0
ALBAN LALOUM JOINED 1124	DIRECTOR	1.00	Director	$0	$0	$0
TERESA BLACK RETIRED 121124	DIRECTOR	1.00	Officer Director	$0	$0	$0
KRISTEN BESSETTE RET 121124	DIRECTOR	1.00	Officer Director	$0	$0	$0
JOHNELL HOLLY	CHAIR	5.00	Officer Director	$0	$0	$0
JEFFREY COHEN	PRESIDENT	3.00	Officer Director	$0	$0	$0
BOB THOMAS	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
JACKIE BOLIG	SECRETARY	3.00	Officer Director	$0	$0	$0
MICHAEL VANACKER	TREASURER	3.00	Officer Director	$0	$0	$0
MEGAN MILLER	EXECUTIVE DIRECTOR	40.00	Officer	$341,738	$54,860	$396,598
GINA M BOYLE	FINANCE AND OPERATIONS DIR	40.00	Officer	$22,750	$1,088	$23,838
TANDEKA NOMVETE	EXTERNAL ENGAGEMENT DIRECT	40.00	Highest	$161,731	$28,144	$189,875
KENNETH GOLDSTEIN	UNIVERSITY PARTNERSHIPS DI	40.00	Highest	$170,048	$41,612	$211,660

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	$3,555,059	$3,083,558	$10,061,035	$471,501
2023	$2,484,287	$2,733,177	$9,493,138	$-248,890
2022	$2,712,012	$2,306,449	$9,082,783	$405,563
2021	$2,416,660	$1,904,653	$9,643,341	$512,007
2020	$2,098,749	$2,119,982	$9,186,050	$-21,233
2019	$2,516,420	$2,464,367	$8,645,477	$52,053
2018	$1,552,293	$1,796,885	$7,892,822	$-244,592