RIVERHEAD CHARTER SCHOOL

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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

Principal Officer

DAVID EDWARDS

Phone

6313695800

Tax Period

2024-07-01 to 2025-06-30

RIVERHEAD CHARTER SCHOOL, founded in 2001, is a mid-sized nonprofit in the Education sector that reported $21.8M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $19.1M left a modest 12% surplus.

Mission

TO OFFER STUDENTS A TRUE CHOICE IN PUBLIC EDUCATION AND PROMOTE THE LOVE OF LEARNING AND THE EXPLORATION OF LOCALITY AND ENVIRONMENTS.

Program Service Accomplishments

Program 1

Expenses: $16,757,132 Revenue: $20,986,738

THE SCHOOL'S MAIN OBJECTIVE IS TO OFFER STUDENTS A TRUE CHOICE IN PUBLIC EDUCATION, WHICH PROMOTES LOVE OF LEARNING AND LOCAL EXPLORATION. THE SCHOOL'S GOAL IS TO PROVIDE A RIGOROUS COMMUNITY OF...

THE SCHOOL'S MAIN OBJECTIVE IS TO OFFER STUDENTS A TRUE CHOICE IN PUBLIC EDUCATION, WHICH PROMOTES LOVE OF LEARNING AND LOCAL EXPLORATION. THE SCHOOL'S GOAL IS TO PROVIDE A RIGOROUS COMMUNITY OF LEARNING, WHICH IS INVITING AND STIMULATING TO STUDENTS AND PARENTS, AS WELL AS STAFF. THE SCHOOL INTENDS TO REVERSE THE CURRENT SPIRAL OF STUDENT FAILURE AND MEET OR EXCEED STATE AND FEDERAL STANDARDS, TO NURTURE THE INDIVIDUAL GIFTS OF EVERY STUDENT, AND TO PREPARE THEM FOR A REWARDING COMMUNITY LIFE. REVENUE IS GENERATED FROM TUITION FEES FROM MORE THAN A DOZEN SCHOOL DISTRICTS FOR STUDENTS WHO ENROLL AT RIVERHEAD CHARTER SCHOOL.

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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 $287,345

Program Service Revenue $20,986,738

Investment Income $460,262

Other Revenue $78,595

TOTAL REVENUE $21,812,940

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,354,680

Fundraising Expenses $0

Program Expenses $16,757,132

Other Expenses $6,744,155

TOTAL EXPENSES $19,098,835

Year-over-Year Comparison

	2024	2023	Change
Revenue	$21,812,940	$19,213,119	+0.1%
Expenses	$19,098,835	$17,570,161	+0.1%
Net Income	$2,714,105	$1,642,958	+0.7%

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

N/A

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

$412,375

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AIMEE LOMONACO	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
ZENOBIA HARTFIELD	TRUSTEE	1.00	Director	$0	$0	$0
NATASHA JEFFRIES	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID EDWARDS	PRESIDENT	1.00	Officer Director	$0	$0	$0
MARIA CINTRON	TREASURER	1.00	Officer Director	$0	$0	$0
NICOLA GRAHAM	COO & CFO	40.00	Officer	$160,363	$17,962	$178,325
RAYMOND ANKRUM	SUPERINTENDENT	40.00	Officer	$191,771	$42,279	$234,050
PATRICK T MCKINNEY	HIGH SCHOOL PRINCIPAL	40.00	Highest	$123,972	$0	$123,972

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	$21,812,940	$19,098,835	$42,364,802	$2,714,105
2024	$19,213,119	$17,570,161	$40,470,231	$1,642,958
2023	$16,729,467	$15,659,190	$39,030,055	$1,070,277
2022	$14,385,795	$13,420,836	$35,983,666	$964,959
2021	$12,377,043	$10,119,039	$35,034,277	$2,258,004
2020	$11,311,047	$9,608,430	$33,009,733	$1,702,617
2019	$10,577,851	$8,905,415	$31,494,389	$1,672,436