NORTHERN KANE EDUCATIONAL CORP

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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

2004

Legal Domicile

Principal Officer

MARK RASAR

Phone

8476489700

Tax Period

2024-09-01 to 2025-06-30

NORTHERN KANE EDUCATIONAL CORP, founded in 2004, is a mid-sized nonprofit in the Education sector that reported $11.7M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.4M, a strong 21% operating margin.

Mission

TO FACILITATE LIFELONG, HIGH ACHIEVEMENT LEARNING. CONTINUOUSLY ADDRESSING FINANCIAL, SPACE, AND EDUCATIONAL DELIVERY ISSUES WITHIN A LARGE SCHOOL DISTRICT.

Program Service Accomplishments

Program 1

Expenses: $7,499,424 Revenue: $8,629,703

CAMBRIDGE LAKES CHARTER SCHOOL PROVIDES DISTRICT 300 FAMILIES WITH AN ALTERNATIVE COMMUNITY SCHOOL CHOICE FOR STUDENTS IN KINDERGARTEN THROUGH EIGHTH GRADE AND THE CAMBRIDGE LAKES ACADEMY FOR...

CAMBRIDGE LAKES CHARTER SCHOOL PROVIDES DISTRICT 300 FAMILIES WITH AN ALTERNATIVE COMMUNITY SCHOOL CHOICE FOR STUDENTS IN KINDERGARTEN THROUGH EIGHTH GRADE AND THE CAMBRIDGE LAKES ACADEMY FOR STUDENTS IN KINDERGARTEN THROUGH TWELFTH GRADE. DURING THE 2024-25 SCHOOL YEAR, APPROXIMATELY 654 STUDENTS WERE ENROLLED.

Program 2

Expenses: $654,404 Revenue: $478,862

CAMBRIDGE LAKES PRESCHOOL OFFERS TUITION-BASED PRESCHOOL FOR 3 AND 4 YEAR OLDS USING CORE KNOWLEDGE CURRICULUM WITH SOME UNDERLYING HIGH SCOPE METHODS. THE CHILDREN LEARN FROM ILLINOIS CERTIFIED...

CAMBRIDGE LAKES PRESCHOOL OFFERS TUITION-BASED PRESCHOOL FOR 3 AND 4 YEAR OLDS USING CORE KNOWLEDGE CURRICULUM WITH SOME UNDERLYING HIGH SCOPE METHODS. THE CHILDREN LEARN FROM ILLINOIS CERTIFIED EARLY CHILDHOOD TEACHERS. DURING THE 2024-25 SCHOOL YEAR, APPROXIMATELY 115 STUDENTS WERE ENROLLED.

Program 3

Expenses: $233,464 Revenue: $168,197

SCHOOL'S OUT PROVIDES STUDENTS WITH LEARNING ENRICHMENT FOR CORE SUBJECTS AND OPPORTUNITIES TO EXPLORE ART, MUSIC, TECHNOLOGY, FITNESS AND SPORTS. SCHOOL'S OUT SUMMER FUN PROVIDES DAILY CAMP...

SCHOOL'S OUT PROVIDES STUDENTS WITH LEARNING ENRICHMENT FOR CORE SUBJECTS AND OPPORTUNITIES TO EXPLORE ART, MUSIC, TECHNOLOGY, FITNESS AND SPORTS. SCHOOL'S OUT SUMMER FUN PROVIDES DAILY CAMP EXPERIENCES DURING THE SUMMER. SCHOOL'S OUT COMMUNITY FUN SERVES ADULTS AND FAMILIES. ENROLLMENT IN THE SCHOOL'S OUT PROGRAM FOR THE 2024-25 SCHOOL YEAR WAS OVER 284 PARTICIPANTS.

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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 $2,167,655

Program Service Revenue $9,276,762

Investment Income $253,586

Other Revenue $-1,844

TOTAL REVENUE $11,696,159

Expense Breakdown

Grants Paid $65,330

Salaries & Benefits $6,132,651

Fundraising Expenses $0

Program Expenses $8,387,292

Other Expenses $3,066,915

TOTAL EXPENSES $9,264,896

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,696,159	$10,784,226	+0.1%
Expenses	$9,264,896	$9,980,010	-0.1%
Net Income	$2,431,263	$804,216	+2.0%

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

130

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

$404,276

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENNIFER MANISCALCO	CHAIR	6.00	Officer Director	$0	$0	$0
BREA CORSARO	VICE-CHAIR	4.00	Officer Director	$0	$0	$0
ANNE MILLER	DIRECTOR	4.00	Director	$0	$0	$0
KELLY BURKE	DIRECTOR	1.00	Director	$0	$0	$0
DAN WALSH	DIRECTOR	3.00	Director	$0	$0	$0
ART FESSLER	DIRECTOR	6.00	Director	$0	$0	$0
MARK RASAR	CEO	50.00	Officer	$166,399	$35,902	$202,301
DIANE KEATING	DIRECTOR OF FINANCE	50.00	Officer	$52,962	$7,592	$60,554
LILA HERAS	SECRETARY	40.00	Officer	$73,951	$5,273	$79,224
PAUL TROY	COO	40.00	Officer	$61,047	$1,150	$62,197
KARISSA MUNGER	HUMAN RESOURCES	50.00	Highest	$100,674	$12,230	$112,904
SARAH CROOM	ASST PRINCIPAL	40.00	Highest	$100,376	$23,784	$124,160

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	$11,696,159	$9,264,896	$32,651,994	$2,431,263
2024	$10,784,226	$9,980,010	$20,952,956	$804,216
2023	$9,886,924	$8,664,526	$20,175,461	$1,222,398
2022	$9,191,169	$8,688,169	$19,123,044	$503,000
2021	$9,382,409	$8,744,899	$20,592,323	$637,510
2020	$10,002,410	$9,534,767	$27,948,174	$467,643
2019	$10,439,281	$9,468,454	$26,504,022	$970,827
2018	$9,212,680	$10,605,321	$25,961,046	$-1,392,641