AMISTAD ACADEMY INC C/O ACHIEVEMENT FIRST INC

EIN: 061546695 501(c)(3) Education

NEW HAVEN, CT

Total Revenue
$16,960,321
Total Expenses
$18,889,916
Total Assets
$31,346,028
Net Assets
$24,864,547
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
CT
Principal Officer
LORRAINE GIBBONS
Phone
2037733223
Tax Period
2022-07-01 to 2023-06-30

AMISTAD ACADEMY INC C/O ACHIEVEMENT FIRST INC, founded in 1999, is a mid-sized nonprofit in the Education sector that reported $17.0M in total revenue in fiscal year 2022. Revenue decreased 8% compared to the prior year. Expenses of $18.9M exceeded revenue, resulting in a 11% operating deficit.

Mission

AMISTAD ACADEMY, INC. WAS INCORPORATED TO FOCUS ON STRENGTHENING THE ACADEMIC AND CHARACTER SKILLS NEEDED FOR ALL STUDENTS TO EXCEL IN TOP TIER COLLEGES, TO ACHIEVE SUCCESS IN A COMPETITIVE WORLD, AND TO SERVE AS THE NEXT GENERATION OF LEADERS IN THEIR COMMUNITIES. THE SCHOOL SERVES STUDENTS FROM LOW INCOME HOUSEHOLDS IN NEW HAVEN, CONNECTICUT. THE SCHOOL OPERATED CLASSES FOR STUDENTS IN KINDERGARTEN THROUGH TWELFTH GRADES.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,646,251
Program Service Revenue $15,266,403
Investment Income $4,338
Other Revenue $43,329
TOTAL REVENUE $16,960,321

Expense Breakdown

Grants Paid $70,299
Salaries & Benefits $11,343,560
Fundraising Expenses $3,000
Program Expenses $16,619,752
Other Expenses $7,476,057
TOTAL EXPENSES $18,889,916

Year-over-Year Comparison

2022 2021 Change
Revenue $16,960,321 $18,526,225 -0.1%
Expenses $18,889,916 $19,110,138 0.0%
Net Income $-1,929,595 $-583,913 +2.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
7
Employees
346
Volunteers
8

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
3
$0
Total Directors
8
$61,691
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ETHAN TYMINSKI DIRECTOR 1.00
Director
$0 $0 $0
GAYATRI MEHTA DIRECTOR 1.00
Director
$0 $0 $0
JEN ALEXANDER DIRECTOR 1.00
Director
$0 $0 $0
LINDA DARKWAH TEACHER REP 1.00
Director
$51,556 $10,135 $61,691
LORRAINE GIBBONS CHAIR 1.00
Officer Director
$0 $0 $0
PATRICIA SWEET TREASURER 1.00
Officer Director
$0 $0 $0
SHANNELLE WHYTE PARENT REP 1.00
Officer Director
$0 $0 $0
YASHIRA AGOSTO DIRECTOR 1.00
Director
$0 $0 $0
ALICE LOWE ACADEMIC DEAN 40.00
Highest
$134,917 $6,370 $141,287
LASHELL ROUNTREE DIRECTOR OF OPERATIONS 40.00
Highest
$155,428 $21,586 $177,014
LAUREN RAIMONDI PRINCIPAL 40.00
Highest
$131,281 $11,846 $143,127
ROSEANN M BASILE PRINCIPAL 40.00
Highest
$192,231 $25,446 $217,677
SIMON OBAS PRINCIPAL 40.00
Highest
$198,719 $6,812 $205,531
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 No data No data No data No data
2023 $16,960,321 $18,889,916 $31,346,028 $-1,929,595
2022 $18,526,225 $19,110,138 $35,740,749 $-583,913
2021 $16,961,980 $16,946,420 $35,461,697 $15,560
2020 $13,333,602 $16,224,805 $34,723,076 $-2,891,203
2019 $16,599,726 $17,152,779 $32,306,655 $-553,053
2018 $18,605,401 $17,197,966 $33,545,721 $1,407,435
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