IRON MOUNTAIN PUBLIC SCHOOL SCHOLARSHIP FOUNDATION-C/O FIRST BANK OF UPPER MI (EIN 911777447) - 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

1998

Legal Domicile

Principal Officer

JERRY SARDINA

Phone

9062286088

Tax Period

2024-01-01 to 2024-12-31

IRON MOUNTAIN PUBLIC SCHOOL SCHOLARSHIP FOUNDATION-C/O FIRST BANK OF UPPER MI, founded in 1998, is a community nonprofit in the Education sector that reported $1.3M in total revenue in fiscal year 2024. Revenue surged 153% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.0M, a strong 79% operating margin.

Mission

EDUCATIONAL - COLLEGE SCHOLARSHIPS

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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 $704,448

Program Service Revenue $0

Investment Income $583,333

Other Revenue $0

TOTAL REVENUE $1,287,781

Expense Breakdown

Grants Paid $229,945

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $229,945

Other Expenses $40,238

TOTAL EXPENSES $270,183

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,287,781	$509,677	+1.5%
Expenses	$270,183	$281,963	0.0%
Net Income	$1,017,598	$227,714	+3.5%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JERRY SARDINA	TRUSTEE	2.00	Director	$0	$0	$0
AMY RYAN	TRUSTEE	2.00	Director	$0	$0	$0
SHARI PICUCCI	TRUSTEE	2.00	Director	$0	$0	$0
JON HARRY	TRUSTEE	2.00	Director	$0	$0	$0
CAROL QUANDT	TRUSTEE	2.00	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	No data	No data	No data	No data
2024	$1,287,781	$270,183	$5,356,447	$1,017,598
2023	$509,677	$281,963	$4,338,849	$227,714
2022	$103,325	$308,961	$4,111,135	$-205,636
2021	$471,342	$354,577	$4,316,771	$116,765
2020	$324,435	$282,094	$4,200,006	$42,341
2019	$308,998	$306,063	$4,157,665	$2,935
2018	$305,526	$266,837	$4,154,730	$38,689

IRON MOUNTAIN PUBLIC SCHOOL SCHOLARSHIP FOUNDATION-C/O FIRST BANK OF UPPER MI