Horizons at CT State Norwalk Inc

EIN: 814133542 501(c)(3) Education

Norwalk, CT

Total Revenue
$1,293,811
Total Expenses
$726,922
Total Assets
$1,708,913
Net Assets
$1,700,403
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
CT
Principal Officer
Blake Drexler
Phone
2038513421
Tax Period
2024-10-01 to 2025-09-30

Horizons at CT State Norwalk Inc, founded in 2016, is a community nonprofit in the Education sector that reported $1.3M in total revenue in fiscal year 2024. Revenue surged 86% from the prior year, signaling strong growth momentum. The organization ran a surplus of $567K, a strong 44% operating margin.

Mission

Horizons at CT State Norwalk, Inc. is a proud affiliate of a 30 year old organization, Horizons National, a network of 71 student enrichment programs located at independent schools and college campuses across the country.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,213,684
Program Service Revenue $5,953
Investment Income $50,503
Other Revenue $23,671
TOTAL REVENUE $1,293,811

Expense Breakdown

Grants Paid $0
Salaries & Benefits $513,648
Fundraising Expenses $18,163
Program Expenses $645,071
Other Expenses $213,274
TOTAL EXPENSES $726,922

Year-over-Year Comparison

2024 2023 Change
Revenue $1,293,811 $695,402 +0.9%
Expenses $726,922 $683,987 +0.1%
Net Income $566,889 $11,415 +48.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
18
Independent Members
15
Employees
40
Volunteers
20

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
5
$111,064
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
David Spezzano Member 3.00
Director
$0 $0 $0
Joanna Williams Member 10.00
Director
$0 $0 $0
July Carvajal Member 3.00
Director
$0 $0 $0
Maria Hedus Member 3.00
Director
$0 $0 $0
Laurie Maglathlin Member 5.00
Director
$0 $0 $0
Eleanor Davidson Member 3.00
Director
$0 $0 $0
Charlotte Lamb Secretary 3.00
Officer Director
$0 $0 $0
Karen McKeel Calby Vice Chair 5.00
Officer Director
$0 $0 $0
Cheryl DeVonish Ex-officio 3.00
Director
$0 $0 $0
Blake Drexler Treasurer 3.00
Officer Director
$0 $0 $0
Mackie Spadaccini Chair 3.00
Officer Director
$0 $0 $0
Dr Norman Weinberger Member 3.00
Director
$0 $0 $0
Tyler Drexler Member 3.00
Director
$0 $0 $0
Sabrina Desruisseaux Member 3.00
Director
$0 $0 $0
Lauren Duchene Member 3.00
Director
$0 $0 $0
Mark Taglia Member 3.00
Director
$0 $0 $0
Tricia Dudley Member 3.00
Director
$0 $0 $0
Renee Rosenbluh Exec Director 40.00
Officer
$105,646 $5,418 $111,064
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 $1,293,811 $726,922 $1,708,913 $566,889
2024 $695,402 $683,987 $1,153,520 $11,415
2023 $678,835 $640,212 $1,144,073 $38,623
2022 $840,112 $587,086 $1,116,437 $253,026
2021 $666,852 $537,056 $945,798 $129,796
2020 $498,210 $344,894 $796,820 $153,316
2018 $477,979 $297,737 $740,147 $180,242
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