First Academy Inc

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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

2016

Legal Domicile

Principal Officer

Leroy Bailey III

Phone

8602436520

Tax Period

2023-01-01 to 2023-12-31

First Academy Inc, founded in 2016, is a small nonprofit in the Education sector that reported $748K in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum.

Mission

To provide a safe nurturing and developmentally appropriate program which fosters active learning support for the whole child.

Program Service Accomplishments

Program 1

Expenses: $629,235 Revenue: $377,740

Preschool and childcare program serving children and families in the Blue Hills neighborhood. Children participate in a variety of hands-on activities that help with school-readiness. Daily schedule includes arts and crafts, reading, math, pretend play, sensory-based activities, outdoor play and more.

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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 $368,682

Program Service Revenue $377,740

Investment Income $0

Other Revenue $1,864

TOTAL REVENUE $748,286

Expense Breakdown

Grants Paid $0

Salaries & Benefits $581,396

Fundraising Expenses $0

Program Expenses $629,235

Other Expenses $202,622

TOTAL EXPENSES $784,018

Year-over-Year Comparison

	2023	2022	Change
Revenue	$748,286	$574,676	+0.3%
Expenses	$784,018	$604,072	+0.3%
Net Income	$-35,732	$-29,396	+0.2%

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

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

$72,956

Total Directors

$7,956

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Elith Howard	School Director	40.00	Officer	$65,000	$0	$65,000
Venice Easterling	Treasurer	3.00	Officer Director	$7,956	$0	$7,956
Leroy Bailey III	President	3.00	Officer Director	$0	$0	$0
Latesha Johnson	Vice President	3.00	Officer Director	$0	$0	$0
Robin Woodward Smith	Secretary	1.00	Officer Director	$0	$0	$0
Ollie Rubiah Oliver	Director	1.00	Director	$0	$0	$0
Elijah Oliver	Director	1.00	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
2024	No data	No data	No data	No data
2023	$748,286	$784,018	$212,091	$-35,732
2022	$574,676	$604,072	$73,284	$-29,396
2021	$613,567	$551,296	$262,428	$62,271
2020	$413,978	$471,947	$216,761	$-57,969
2019	$537,626	$535,328	$81,523	$2,298
2018	$400,850	$409,196	$22,249	$-8,346