HOPE ACADEMY OF MILFORD INC

EIN: 061629432 501(c)(3) Education

ORANGE, CT

Total Revenue
$7,077,353
Total Expenses
$7,130,955
Total Assets
$2,937,607
Net Assets
$2,921,299
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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
2001
Legal Domicile
CT
Principal Officer
LAURA CARROLL
Phone
2037996000
Tax Period
2023-01-01 to 2023-12-31

HOPE ACADEMY OF MILFORD INC, founded in 2001, is a community nonprofit in the Education sector that reported $7.1M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum.

Mission

SEE STATEMENT

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $7,077,120
Investment Income $126
Other Revenue $107
TOTAL REVENUE $7,077,353

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,034,932
Fundraising Expenses $0
Program Expenses $6,027,294
Other Expenses $2,096,023
TOTAL EXPENSES $7,130,955

Year-over-Year Comparison

2023 2022 Change
Revenue $7,077,353 $5,834,624 +0.2%
Expenses $7,130,955 $6,490,044 +0.1%
Net Income $-53,602 $-655,420 -0.9%
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
3
Independent Members
1
Employees
56
Volunteers
2

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
2
$707,638
Total Directors
3
$707,638
Key Employees
2
$707,638
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LAURA CARROLL PRESIDENT 50.00
Officer Director Key Emp
$624,881 $0 $624,881
BONNIE ORTIZ SECRETARY 40.00
Officer Director Key Emp
$82,757 $0 $82,757
FRANCIS WOYTOWICH SECRETARY 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
2024 No data No data No data No data
2023 $7,077,353 $7,130,955 $2,937,607 $-53,602
2022 $5,834,624 $6,490,044 $3,003,846 $-655,420
2021 $7,587,609 $6,579,601 $3,670,079 $1,008,008
2020 $5,464,130 $6,318,881 $3,336,822 $-854,751
2019 $6,108,585 $6,153,336 $3,559,247 $-44,751
2018 $5,885,851 $5,457,103 $3,607,217 $428,748
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