Civic Intelligence

The Michael a J Farrell Foundation Inc.

990 • Fiscal year 2022 • EIN 31-1714697

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 26, 2023

Organization ProfileN/A
Pobox 3Summit, NJ 07902

(201) 323-4508

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.85x

Higher debt load relative to assets than 91% of similar nonprofits.

2022 filings • NTEE B • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

100th percentile

1320.02x

Higher debt load relative to revenue than 100% of similar nonprofits.

2022 filings • NTEE B • $1M-$5M nonprofits • Source year 2022

Net Margin

1st percentile

-5832%

Higher net margin than 1% of similar nonprofits.

2022 filings • NTEE B • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE B • $1M-$5M nonprofits • Source year 2022

Asset Growth

11th percentile

-17%

Faster asset growth than 11% of similar nonprofits.

2022 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

2nd percentile

-81%

Faster revenue growth than 2% of similar nonprofits.

2022 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$2,297,552

Down $484,569 (-17%) from 2021

Net Assets

Down

$351,846

Down $85,960 (-20%) from 2021

Liabilities

Down

$1,945,706

Down $398,609 (-17%) from 2021

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$1,474

Down $6,226 (-81%) from 2021

Expenses

Down

$87,434

Down $36,153 (-29%) from 2021

Net Income

Up

-$85,960

Up $29,927 (+26%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth11th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2018: $3,937,374Liabilities 2018: $3,508,000Net Assets 2018: $429,3742018Assets 2019: $3,723,681Liabilities 2019: $3,076,000Net Assets 2019: $647,6812019Assets 2020: $3,381,084Liabilities 2020: $2,827,391Net Assets 2020: $553,6932020Assets 2021: $2,782,121Liabilities 2021: $2,344,315Net Assets 2021: $437,8062021Assets 2022: $2,297,552Liabilities 2022: $1,945,706Net Assets 2022: $351,8462022Assets 2023: $1,883,891Liabilities 2023: $1,532,045Net Assets 2023: $351,8462023Assets 2024: $14,548,900Liabilities 2024: $1,102,264Net Assets 2024: $13,446,6362024

Highlighted filing

2022

Assets$2,297,552
Liabilities$1,945,706
Net Assets$351,846
Open 2022 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2018: $516,974Expenses 2018: $480,312Net Income 2018: $36,6622018Revenue 2019: $410,984Expenses 2019: $192,677Net Income 2019: $218,3072019Revenue 2020: $52,680Expenses 2020: $146,668Net Income 2020: -$93,9882020Revenue 2021: $7,700Expenses 2021: $123,587Net Income 2021: -$115,8872021Revenue 2022: $1,474Expenses 2022: $87,434Net Income 2022: -$85,9602022Revenue 2023: $3,695Expenses 2023: $72,378Net Income 2023: -$68,6832023Revenue 2024: $11,955,728Expenses 2024: $605,109Net Income 2024: $11,350,6192024

Highlighted filing

2022

Revenue$1,474
Expenses$87,434
Net Income-$85,960
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 26, 2023
Return Version
2022v5.0
Gross Receipts
$1,474
Mission and Program Overview

Mission

Raise funds to support the education mission of preparatory schools such as The Oratory School of Summit,NJ and institutions of higher education and other education endeavors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$66,485$72,168▲ $5,683
Investments in Publicly Traded Securities$25,602$26,002▲ $400
Cash and Non-Interest-Bearing Accounts$300$300→ $0
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,782,121$2,297,552▼ $484,569
Other Assets Total$2,689,734$2,199,082▼ $490,652
Liabilities
Unsecured Notes Loans Payable$2,344,315$1,945,706▼ $398,609
Total Liabilities$2,344,315$1,945,706▼ $398,609
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$437,806$351,846▼ $85,960
Total Net Assets Fund Balance$437,806$351,846▼ $85,960
Total Liabilities and Net Assets / Fund Balance$2,782,121$2,297,552▼ $484,569
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Carolyn FerrolitoTrustee
Edward McdonnellTrustee
Kevin GreeneTrustee
Mary R FarrellTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$500
Program Service Revenue
$0
Investment Income
$974
Other Revenue
$0
All Other Contributions
$500
Change in Net Assets
$-85,960
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$87,434
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest-$82,255-$82,255
Fees for Services Accounting-$3,363-$3,363
Insurance-$1,816-$1,816
Total Functional Expenses$0$87,434$0$87,434
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
The Oratory Foundation Inc
EIN
31-1714697
Phone
2013234508
Address
POBOX 3, SUMMIT, NJ 07902

Signing Officer

Name
Kevin Greene
Title
Trustee
Signed
2023-06-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Greene
Formed
2000
Legal Domicile
Nj
Voting Board Members
4
Independent Board Members
0
Employees
0

Preparer

Firm
Naskret Selzer & Associates LLC
Address
1129 BLOOMFIELD AVE STE 110, WEST CALDWELL, NJ 07006
Preparer
Leonard P Cohen CPA
Phone
9739949555
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Trustee
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-06-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE ORATORY FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0ORAT
ReturnHeader/Filer/EIN0311714697
ReturnHeader/Filer/PhoneNum02013234508
ReturnHeader/Filer/USAddress/AddressLine1Txt0POBOX 3
ReturnHeader/Filer/USAddress/CityNm0SUMMIT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007902
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0800022697
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NASKRET SELZER & ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01129 BLOOMFIELD AVE STE 110
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WEST CALDWELL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007006
ReturnHeader/PreparerPersonGrp/PhoneNum09739949555
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Leonard P Cohen CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-06-26T12:46:44-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KEVIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GREENE
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,297,552
Liabilities
$1,945,706
Net assets
$351,846
Revenue
$1,474
Expenses
$87,434
Net income
-$85,960
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.5$1.10$13.4$12.0$0.61$11.4
2023Detailed filing. Detailed filing data is available for this year.$1.88$1.53$0.35$0.00$0.07$0.07
2022Detailed filing. Detailed filing data is available for this year.$2.30$1.95$0.35$0.00$0.09$0.09
2021Detailed filing. Detailed filing data is available for this year.$2.78$2.34$0.44$0.01$0.12$0.12
2020Detailed filing. Detailed filing data is available for this year.$3.38$2.83$0.55$0.05$0.15$0.09
2019Detailed filing. Detailed filing data is available for this year.$3.72$3.08$0.65$0.41$0.19$0.22
2018Detailed filing. Detailed filing data is available for this year.$3.94$3.51$0.43$0.52$0.48$0.04