THE NORWICH FREE ACADEMY

EIN: 060762783 501(c)(3) Education

NORWICH, CT

Total Revenue
$43,634,151
Total Expenses
$43,022,905
Total Assets
$48,126,149
Net Assets
$41,944,653
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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
1854
Legal Domicile
CT
Principal Officer
NATHAN QUESNEL
Phone
8608872505
Tax Period
2024-07-01 to 2025-06-30

THE NORWICH FREE ACADEMY, founded in 1854, is a mid-sized nonprofit in the Education sector that reported $43.6M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

PROVIDE SECONDARY EDUCATION FOR HIGH SCHOOL STUDENTS IN NORWICH AND EIGHT SURROUNDING TOWNS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,599,045
Program Service Revenue $39,573,828
Investment Income $382,978
Other Revenue $78,300
TOTAL REVENUE $43,634,151

Expense Breakdown

Grants Paid $0
Salaries & Benefits $32,581,877
Fundraising Expenses $0
Program Expenses $34,056,795
Other Expenses $10,441,028
TOTAL EXPENSES $43,022,905

Year-over-Year Comparison

2024 2023 Change
Revenue $43,634,151 $39,900,485 +0.1%
Expenses $43,022,905 $42,176,774 +0.0%
Net Income $611,246 $-2,276,289 -1.3%
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

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Governance

Voting Members
12
Independent Members
12
Employees
504
Volunteers
12

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
6
$608,467
Total Directors
14
$0
Key Employees
1
$239,871
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID KALLA CHAIR 5.00
Officer Director
$0 $0 $0
CHRISTOPHER JEWELL VICE CHAIR 5.00
Officer Director
$0 $0 $0
BETSY CONWAY SECRETARY 5.00
Officer Director
$0 $0 $0
DENISE LINDELL TREASURER 5.00
Officer Director
$0 $0 $0
ALLYN L BROWN III TRUSTEE 2.00
Director
$0 $0 $0
KEITH FONTAINE TRUSTEE (AS OF 11/24) 2.00
Director
$0 $0 $0
BRYAN HAYES TRUSTEE 2.00
Director
$0 $0 $0
MARIA MIRANDA TRUSTEE 2.00
Director
$0 $0 $0
TODD POSTLER TRUSTEE 2.00
Director
$0 $0 $0
CHERYL RITACCO TRUSTEE 2.00
Director
$0 $0 $0
MARK TRAMONTOZZI TRUSTEE 2.00
Director
$0 $0 $0
WILLIAM WARZECHA TRUSTEE 2.00
Director
$0 $0 $0
DIANA BOSCLAIR TRUSTEE (UNTIL 11/24) 2.00
Director
$0 $0 $0
DEVOL JOYNER TRUSTEE (UNTIL 11/24) 2.00
Director
$0 $0 $0
NATHAN QUESNEL HEAD OF SCHOOL 40.00
Officer
$362,486 $46,744 $409,230
RICHARD FREEMAN DIRECTOR OF FIANANCE (UNTIL 06/25) 35.00
Officer
$150,927 $48,310 $199,237
KRISTIN PECKRUL DIRECTOR OF OPERATIONS 40.00
Key Emp
$193,426 $46,445 $239,871
LEO E BUTLER DIRECTOR OF DIVERSITY 40.00
Highest
$155,735 $15,350 $171,085
ROY E WENTWORTH III ATHLETIC DIRECTOR 40.00
Highest
$152,982 $0 $152,982
ANTHONY MENARD DIRECTOR OF HUMAN RESOURCES 40.00
Highest
$167,321 $46,942 $214,263
JESSICA VOCATURA DIRECTOR OF STUDENT SERVICES 40.00
Highest
$162,977 $21,254 $184,231
ANTHONY GIROSOLI DIRECTOR OF IT 40.00
Highest
$152,982 $0 $152,982
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 $43,634,151 $43,022,905 $48,126,149 $611,246
2024 $39,900,485 $42,176,774 $46,218,113 $-2,276,289
2023 $46,787,226 $43,368,650 $47,149,497 $3,418,576
2022 $48,469,342 $39,733,703 $40,829,641 $8,735,639
2021 $42,617,337 $39,532,672 $43,738,913 $3,084,665
2020 $37,532,143 $39,829,495 $43,430,200 $-2,297,352
2019 $36,823,927 $38,714,866 $41,658,815 $-1,890,939
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