PATHWAY COMMUNITY FOUNDATION CORPORATION

EIN: 923573559 501(c)(3) Education

RALEIGH, NC

Total Revenue
$219,994
Total Expenses
$226,289
Total Assets
$53,743
Net Assets
$53,743
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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
2022
Legal Domicile
NC
Principal Officer
KEVIN FOMENGIA
Phone
2023699554
Tax Period
2025-01-01 to 2025-12-31

PATHWAY COMMUNITY FOUNDATION CORPORATION, founded in 2022, is a small nonprofit in the Education sector that reported $220K in total revenue in fiscal year 2025. Revenue surged 67% from the prior year, signaling strong growth momentum.

Mission

To build thriving technology ecosystems in underrepresented cities and HBCU communities. We have planned workforce development programs, career fairs, and technology institutes.

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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 (2025)

Revenue Breakdown

Contributions & Grants $219,297
Program Service Revenue $0
Investment Income $0
Other Revenue $697
TOTAL REVENUE $219,994

Expense Breakdown

Grants Paid $0
Salaries & Benefits $101,332
Fundraising Expenses $0
Program Expenses $103,425
Other Expenses $124,957
TOTAL EXPENSES $226,289

Year-over-Year Comparison

2025 2024 Change
Revenue $219,994 $131,411 +0.7%
Expenses $226,289 $287,308 -0.2%
Net Income $-6,295 $-155,897 -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

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Governance

Voting Members
2
Independent Members
2
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
1
$40,000
Total Directors
6
$98,046
Key Employees
1
$40,000
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEVIN FOMENGIA TREASURER & DIRECTOR 40
Officer Director Key Emp
$40,000 $0 $40,000
AYINDE SIMON PRESIDENT AND DIRECTOR 40
Director
$42,325 $0 $42,325
TERRY YATES IOT / SMART CITY COACH 15
Director
$0 $0 $0
ALYSON KONG EXECUTIVE ASSISTANT 15
Director
$12,171 $0 $12,171
HERMANN BOBGA CREATIVE DESIGNER 15
Director
$0 $0 $0
SYDNEY TAYLOR COMMUNICATIONS MANAGER 15
Director
$3,550 $0 $3,550
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 $219,994 $226,289 $53,743 $-6,295
2024 $131,411 $287,308 $60,215 $-155,897
2023 $321,271 $99,627 $221,644 $221,644
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