Science Academies of New York Charter Schools (EIN 043739991) - 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

2003

Legal Domicile

Principal Officer

Tolga Hayali

Phone

3154288997

Tax Period

2023-07-01 to 2024-06-30

Science Academies of New York Charter Schools, founded in 2003, is a mid-sized nonprofit that reported $50.7M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $9.1M, a strong 18% operating margin.

Mission

The Schools seek to graduate students who can think critically and creatively.

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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 (2023)

Revenue Breakdown

Contributions & Grants $8,004,923

Program Service Revenue $41,904,034

Investment Income $654,889

Other Revenue $121,137

TOTAL REVENUE $50,684,983

Expense Breakdown

Grants Paid $0

Salaries & Benefits $29,156,417

Fundraising Expenses $0

Program Expenses $34,749,280

Other Expenses $12,403,199

TOTAL EXPENSES $41,559,616

Year-over-Year Comparison

	2023	2022	Change
Revenue	$50,684,983	$44,223,623	+0.1%
Expenses	$41,559,616	$37,474,631	+0.1%
Net Income	$9,125,367	$6,748,992	+0.4%

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

539

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

$498,444

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Fehmi Damkaci	Board President	8.00	Officer Director	$0	$0	$0
Murat Baysal	Vice President/Secretary	1.00	Officer Director	$0	$0	$0
Jawwaad Rasheed	Trustee/Member	1.00	Director	$0	$0	$0
Lindsay Cray	Member	1.00	Director	$0	$0	$0
Jodi DeAugustine	Member	1.00	Director	$0	$0	$0
Samantha Turnquest	Trustee/Member	1.00	Director	$0	$0	$0
Halil Zaim	Member	1.00	Director	$0	$0	$0
Tolga Hayali	Superintendent	40.00	Officer	$223,360	$45,706	$269,066
Yusuf Aykar	Assistant Superintendent	40.00	Officer	$187,103	$42,275	$229,378
Bekir Duz	Assistant Superintendent	40.00	Highest	$172,104	$40,579	$212,683
Kadir Yavuz - Director of Informati	and Instructional Technologies	40.00	Highest	$149,183	$38,175	$187,358
Pamela Geremski	School Dean	1.00	Highest	$111,662	$23,462	$135,124

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	No data	No data	No data	No data
2024	$50,684,983	$41,559,616	$65,783,682	$9,125,367
2023	$44,223,623	$37,474,631	$55,732,899	$6,748,992
2022	$36,615,185	$30,446,708	$37,462,091	$6,168,477
2021	$33,387,731	$23,142,280	$30,979,536	$10,245,451
2020	$28,123,274	$23,576,840	$23,320,709	$4,546,434
2019	$25,519,998	$22,241,943	$16,229,299	$3,278,055

Science Academies of New York Charter Schools