RICHARD MILBURN ACADEMY OF FLORIDA INC (EIN 043513332) - 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

1999

Legal Domicile

Principal Officer

SAM SMITH

Tax Period

2024-07-01 to 2025-06-30

RICHARD MILBURN ACADEMY OF FLORIDA INC, founded in 1999, is a community nonprofit in the Education sector that reported $6.9M in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $8.7M exceeded revenue, resulting in a 27% operating deficit.

Mission

RICHARD MILBURN ACADEMY OF FLORIDA, INC. OPERATES A PUBLIC HIGH SCHOOL THAT OFFER STUDENTS THE OPPORTUNITY TO GET BACK ON TRACK, IMPROVE GRADES, BE PROMOTED TO THE NEXT GRADE LEVEL, AND EARN THEIR DIPLOMA IN A NONTRADITIONAL LEARNING ENVIRONMENT.

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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 $676,416

Program Service Revenue $6,113,769

Investment Income $15,659

Other Revenue $63,142

TOTAL REVENUE $6,868,986

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,723,062

Fundraising Expenses $0

Program Expenses $7,851,498

Other Expenses $2,971,573

TOTAL EXPENSES $8,694,635

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,868,986	$8,793,054	-0.2%
Expenses	$8,694,635	$8,013,107	+0.1%
Net Income	$-1,825,649	$779,947	-3.3%

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
CATHY EGLEY	BOARD MEMBER	N/A	Officer Director	$0	$0	$0
EDSON GRAHAM	CHAIRMAN	N/A	Officer Director	$0	$0	$0
ASHLEY KELLY	BOARD MEMBER	N/A	Officer Director	$0	$0	$0
SAM SMITH	BOARD MEMBER	N/A	Officer Director	$0	$0	$0
NICHOL WARD	BOARD MEMBER	N/A	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	$6,868,986	$8,694,635	$2,830,165	$-1,825,649
2024	No data	No data	No data	No data
2023	$5,511,029	$4,967,108	$3,028,985	$543,921
2022	$4,169,124	$3,267,242	$2,512,832	$901,882
2021	$2,844,727	$2,764,087	$1,121,564	$80,640
2020	$2,249,310	$2,217,837	$907,505	$31,473
2019	$2,392,885	$2,227,367	$990,384	$165,518

RICHARD MILBURN ACADEMY OF FLORIDA INC