TRUSTEES OF THORNTON ACADEMY (EIN 010224769) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1811

Legal Domicile

Principal Officer

ERIC PURVIS

Phone

2072823361

Tax Period

2022-07-01 to 2023-06-30

TRUSTEES OF THORNTON ACADEMY is a 501(c)(3) with EIN 010224769, based in SACO, ME. Founded in 1811, the organization files IRS Form 990 and reported its most recent data for fiscal year 2022. In that period, it reported $33,117,795 in total revenue and $30,229,155 in total expenses, with net assets of $36,596,789.

Mission

THORNTON ACADEMY PREPARES STUDENTS FOR A CHANGING WORLD, CHALLENGING ALL TO LEARN, GROW, INNOVATE AND SUCCEED THROUGH A GRADE 6-12 PRIVATE SCHOOL, INCLUDING BOARDING PROGRAM.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $708,584

Program Service Revenue $31,520,458

Investment Income $752,821

Other Revenue $135,932

TOTAL REVENUE $33,117,795

Expense Breakdown

Grants Paid $3,070,718

Salaries & Benefits $17,140,540

Fundraising Expenses $410,611

Program Expenses $28,699,355

Other Expenses $10,017,897

TOTAL EXPENSES $30,229,155

Year-over-Year Comparison

	2022	2021	Change
Revenue	$33,117,795	$31,056,613	+0.1%
Expenses	$30,229,155	$30,165,151	+0.0%
Net Income	$2,888,640	$891,462	+2.2%

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

282

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

$410,621

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC PURVIS	PRESIDENT	6.00	Officer Director	$0	$0	$0
PEGGY O'NEIL	VICE PRESIDE	6.00	Officer Director	$0	$0	$0
VANGEL COTSIS	SECRETARY/TR	6.00	Officer Director	$0	$0	$0
PHILIP FEARON	ASSISTANT TR	6.00	Officer Director	$0	$0	$0
ANGELA BOLDUC	TRUSTEE	2.00	Director	$0	$0	$0
ROGER MILES	TRUSTEE	2.00	Director	$0	$0	$0
TIMOTHY MURPHY	TRUSTEE	2.00	Director	$0	$0	$0
BRIAN DALLAIRE	TRUSTEE	2.00	Director	$0	$0	$0
KIRK PURVIS	TRUSTEE	2.00	Director	$0	$0	$0
BERNARD GAINES	TRUSTEE	2.00	Director	$0	$0	$0
PAUL REMMES	TRUSTEE	2.00	Director	$0	$0	$0
ROBERT GOWEN	TRUSTEE	2.00	Director	$0	$0	$0
MARK WILLETT	TRUSTEE	2.00	Director	$0	$0	$0
NATE HOWELL	TRUSTEE	2.00	Director	$0	$0	$0
JOEL LEVESQUE	TRUSTEE	2.00	Director	$0	$0	$0
RENE MENARD	HEADMASTER	40.00	Officer	$253,729	$11,311	$265,040
ANN-MARIE SWENSON	CFO	40.00	Officer	$143,917	$1,664	$145,581
CLINT WILLIAMS	DIR. OF ENRO	40.00	Highest	$134,807	$26,566	$161,373
CAROL TARANKO	ASSOC. HOS	40.00	Highest	$126,650	$31,429	$158,079
BENJAMIN NASSE	DIR. OF TECH	40.00	Highest	$129,015	$26,566	$155,581
KEVIN KEZAL	CLASS DEAN &	40.00	Highest	$107,084	$29,593	$136,677
TIFFANY ROBERT	MIDDLE SCHOO	40.00	Highest	$100,502	$30,360	$130,862

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	No data	No data	No data	No data
2023	$33,117,795	$30,229,155	$59,395,279	$2,888,640
2022	$31,056,613	$30,165,151	$56,389,657	$891,462
2021	$34,768,961	$28,617,390	$58,151,503	$6,151,571
2020	$32,047,257	$30,953,446	$56,022,886	$1,093,811
2019	$32,599,269	$31,168,731	$54,043,806	$1,430,538

TRUSTEES OF THORNTON ACADEMY