Granite Edvance Corporation (EIN 020368776) - 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

1983

Legal Domicile

Principal Officer

Christiana Thornton

Phone

6032265829

Tax Period

2024-10-01 to 2025-09-30

Granite Edvance Corporation, founded in 1983, is a mid-sized nonprofit in the Education sector that reported $61.2M in total revenue in fiscal year 2024. Expenses of $59.2M left a modest 3% surplus.

Mission

To support New Hampshire students and families in navigating their education and career pathways.

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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 $40,000

Program Service Revenue $53,741,564

Investment Income $7,508,016

Other Revenue $-84,958

TOTAL REVENUE $61,204,622

Expense Breakdown

Grants Paid $1,026,288

Salaries & Benefits $8,585,672

Fundraising Expenses $0

Program Expenses $55,794,519

Other Expenses $49,588,888

TOTAL EXPENSES $59,200,848

Year-over-Year Comparison

	2024	2023	Change
Revenue	$61,204,622	$63,939,847	0.0%
Expenses	$59,200,848	$60,059,105	0.0%
Net Income	$2,003,774	$3,880,742	-0.5%

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

101

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

$1,382,202

Total Directors

$553,840

Key Employees

$784,305

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Peter Burger	Trustee	0.20	Director	$0	$0	$0
William Dwyer	Trustee	0.20	Director	$0	$0	$0
Rick Elwell	Trustee	0.20	Director	$0	$0	$0
Chuck Lloyd	Trustee	0.20	Director	$0	$0	$0
MB Lufkin	Trustee	0.20	Director	$0	$0	$0
Debra Miller	Trustee	0.20	Director	$0	$0	$0
Hans Olson	Trustee	0.20	Director	$0	$0	$0
Sandy Tracy	Trustee	0.20	Director	$0	$0	$0
Susan Huard	Chair (end 12/2024); Trustee	0.20	Officer Director	$0	$0	$0
Paul Provost	Trustee; Chair (start 1/2025)	0.20	Officer Director	$0	$0	$0
Gordon Koff	Vice Chair; Trustee	0.20	Officer Director	$0	$0	$0
Carol Houle	Treasurer; Trustee	0.20	Officer Director	$0	$0	$0
Jamie Burnett	Secretary; Trustee	0.20	Officer Director	$0	$0	$0
Christiana Thornton	President & CEO	40.00	Officer Director	$507,256	$46,584	$553,840
Scott Rogers	VP & CFO	40.00	Officer	$281,207	$42,168	$323,375
John Flanders	VP & Chief Strategy/Lending Officer	40.00	Officer	$224,643	$37,934	$262,577
Blessing Chimwanda	Gen. Counsel/Chief Compliance Off.	40.00	Officer	$233,919	$8,491	$242,410
Erik Sobel	VP Technology Solutions & Security	40.00	Key Emp	$194,743	$20,712	$215,455
Danielle Barrick	VP Chief Communications Officer	40.00	Key Emp	$191,401	$10,153	$201,554
Daniel Coughlan	VP Capital Markets/Asset Management	40.00	Key Emp	$152,779	$27,987	$180,766
Kathy-Ann Maguire	VP People & Talent Management	40.00	Key Emp	$150,897	$35,633	$186,530
Christopher Nadeau	VP, Information Security & Business Solutions	40.00	Highest	$131,156	$34,435	$165,591
Carlton Lewis	Solutions Architect	40.00	Highest	$132,775	$9,879	$142,654
Merek Weisensee	AVP, Technical Solutions & Support	40.00	Highest	$128,678	$9,684	$138,362
Matthew Wallace	VP, Education & Career Pathways	40.00	Highest	$116,157	$29,551	$145,708
Minatchy Visvanathan	Business Systems & Data Architect	40.00	Highest	$112,938	$32,916	$145,854

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	$61,204,622	$59,200,848	$912,774,268	$2,003,774
2024	$63,939,847	$60,059,105	$904,473,074	$3,880,742
2023	$61,725,667	$60,413,588	$915,716,327	$1,312,079
2022	$60,034,018	$52,511,711	$928,313,847	$7,522,307
2021	$75,110,962	$62,096,640	$910,620,336	$13,014,322
2020	$54,814,259	$56,076,554	$867,907,952	$-1,262,295
2019	$54,774,294	$53,581,370	$772,977,645	$1,192,924
2018	$48,139,019	$43,835,663	$693,191,534	$4,303,356

Granite Edvance Corporation