NEW BEGINNINGS FAMILY 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

1999

Legal Domicile

Principal Officer

COLLETTE FEARON

Phone

2033842897

Tax Period

2024-07-01 to 2025-06-30

NEW BEGINNINGS FAMILY ACADEMY INC, founded in 1999, is a community nonprofit in the Education sector that reported $7.6M in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $8.5M exceeded revenue, resulting in a 11% operating deficit.

Mission

NEW BEGINNINGS FAMILY ACADEMY PROVIDES ITS STUDENTS A MEANINGFUL, HIGH-QUALITY EDUCATION THROUGH EXPERIENCE-BASED LEARNING THAT HELPS DEVELOP ESSENTIAL SOCIAL, EMOTIONAL AND CRITICAL-THINKING SKILLS. THIS GIVES ALL CHILDREN A FOUNDATION TO ACHIEVE THEIR FULL POTENTIAL AT EVERY STAGE OF LIFE.

Program Service Accomplishments

Program 1

Expenses: $7,487,962 Revenue: $35,309

OPERATION OF A CHARTER SCHOOL PROVIDING FULL DAY PRE-K THROUGH 6TH GRADES FOR 391 STUDENTS AND 38 INSTRUCTORS. NBFA'S RESEARCH-BASED AND CULTURALLY RESPONSIVE CURRICULUM ENSURES A SOLID GRASP OF...

OPERATION OF A CHARTER SCHOOL PROVIDING FULL DAY PRE-K THROUGH 6TH GRADES FOR 391 STUDENTS AND 38 INSTRUCTORS. NBFA'S RESEARCH-BASED AND CULTURALLY RESPONSIVE CURRICULUM ENSURES A SOLID GRASP OF ESSENTIAL LITERACY AND NUMERACY FOUNDATIONAL SKILLS, CRITICAL THINKING, PROBLEM-SOLVING AND RIGOROUS PREPARATION FOR CHALLENGING SECONDARY EDUCATION. WE ARE A SCHOOL WITH HIGH SOCIAL-EMOTIONAL LEARNING CAPACITY. NBFA'S EMOTIONALLY RESPONSIVE PRACTICE (ERP) MODEL ATTENDS TO THE WHOLE CHILD, NOT JUST ACADEMICS. OUR DIVERSE TEAM OF CERTIFIED TEACHERS AND LEADERS IS COMPRISED OF EMPATHIC INDIVIDUALS WHO BELIEVE IN THE TRANSFORMATIVE POWER OF HIGH-QUALITY EDUCATION AND THE POTENTIAL OF EVERY CHILD, REGARDLESS OF DEMOGRAPHICS. SELECTED THROUGH A BLIND LOTTERY, NBFA'S HARDWORKING, INQUISITIVE STUDENTS COME FROM EVERY NEIGHBORHOOD IN BRIDGEPORT AND REFLECT THE VARIOUS ETHNICITIES AND CULTURES THAT MAKE UP PARK CITY. THEIR FAMILIES CONTRIBUTE GREATLY TO THE SCHOOL'S CLIMATE AND STUDENT OUTCOMES.

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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 $7,480,207

Program Service Revenue $35,309

Investment Income $99,184

Other Revenue $33,011

TOTAL REVENUE $7,647,711

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,105,526

Fundraising Expenses $227,001

Program Expenses $7,487,962

Other Expenses $2,361,379

TOTAL EXPENSES $8,466,905

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,647,711	$9,704,902	-0.2%
Expenses	$8,466,905	$8,291,353	+0.0%
Net Income	$-819,194	$1,413,549	-1.6%

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

112

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

$342,172

Total Directors

$85,784

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RONELLE P SWAGERTY	CEO	40.00	Officer	$169,040	$34,595	$203,635
PAMELA DALTON	CHIEF ACADEMIC OFFICER	40.00	Highest	$152,623	$12,114	$164,737
VALORE TURNER	UPPER SCHOOL PRINCIPAL	40.00	Highest	$122,226	$33,964	$156,190
COLLETTE FEARON	LOWER SCHOOL PRINCIPAL	40.00	Highest	$151,191	$447	$151,638
LUIS CARTAGENA	COO & CFO	40.00	Officer	$105,119	$33,418	$138,537
ROREE WARNKE	CHIEF DEVELOPMENT & COMMUNICATIONS	40.00	Highest	$107,052	$24,835	$131,887
TASHA HARRIS	DIRECTOR	40.00	Director	$75,716	$10,068	$85,784
DONALD FOLEY	PRESIDENT	4.00	Officer Director	$0	$0	$0
LASHEA HALL	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
MYLENA TEIXEIRA	TREASURER	4.00	Officer Director	$0	$0	$0
MINDY FOX PRITCHARD	SECRETARY	4.00	Director	$0	$0	$0
CRAIG JOHNSON	DIRECTOR	4.00	Director	$0	$0	$0
KEVIN KNIGHT	DIRECTOR	4.00	Officer Director	$0	$0	$0
PATRICIA SEMPERTEGUI	DIRECTOR	4.00	Director	$0	$0	$0
KIZZY JETER-WILCOX	DIRECTOR	4.00	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
2025	$7,647,711	$8,466,905	$6,715,381	$-819,194
2024	No data	No data	No data	No data
2023	$7,844,759	$8,107,306	$5,899,969	$-262,547
2022	$8,034,593	$8,787,714	$6,463,052	$-753,121
2021	$8,124,878	$7,371,170	$6,914,685	$753,708
2020	$6,859,099	$7,631,641	$7,003,786	$-772,542
2019	$6,686,383	$7,154,662	$6,612,687	$-468,279
2018	$6,929,932	$7,359,359	$7,102,260	$-429,427