ELM CITY COLLEGE PREPARATORY INC C/O ACHIEVEMENT FIRST INC

EIN: 205196171 501(c)(3) Education

NEW HAVEN, CT

Total Revenue
$14,023,846
Total Expenses
$15,264,361
Total Assets
$24,699,039
Net Assets
$22,281,840
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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
CT
Principal Officer
RICHARD FERGUSON
Phone
2037733223
Tax Period
2024-07-01 to 2025-06-30

ELM CITY COLLEGE PREPARATORY INC C/O ACHIEVEMENT FIRST INC, founded in 2004, is a mid-sized nonprofit in the Education sector that reported $14.0M in total revenue in fiscal year 2024.

Mission

ELM CITY COLLEGE PREPARATORY, INC. IS AN EDUCATIONAL CORPORATION, ESTABLISHED FOR THE PURPOSE OF STRENGTHENING THE ACADEMIC AND CHARACTER SKILLS NEEDED FOR ALL STUDENTS TO EXCEL IN THE TOP TIER COLLEGES, TO ACHIEVE SUCCESS IN A COMPETITIVE WORLD AND TO SERVE AS THE NEXT GENERATION OF LEADERS IN THE COMMUNITIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,369,957
Program Service Revenue $11,354,809
Investment Income $134,910
Other Revenue $164,170
TOTAL REVENUE $14,023,846

Expense Breakdown

Grants Paid $14,800
Salaries & Benefits $8,292,500
Fundraising Expenses $0
Program Expenses $13,341,065
Other Expenses $6,957,061
TOTAL EXPENSES $15,264,361

Year-over-Year Comparison

2024 2023 Change
Revenue $14,023,846 $13,776,475 +0.0%
Expenses $15,264,361 $14,928,760 +0.0%
Net Income $-1,240,515 $-1,152,285 +0.1%
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
5
Independent Members
5
Employees
146
Volunteers
6

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
6
$0
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD FERGUSON CHAIR 1.00
Officer Director
$0 $0 $0
LAURA SAVERIN TREASURER 1.00
Officer Director
$0 $0 $0
STEPHANIE MA SECRETARY 1.00
Officer Director
$0 $0 $0
LAVONTA BRYANT PARENT REP 1.00
Director
$0 $0 $0
PATRIC GREGORY DIRECTOR 1.00
Director
$0 $0 $0
PATRICIA PIERCE OUTGOING DIRECTOR THRU 09/24 1.00
Director
$0 $0 $0
ALLISON BARKLEY ACADEMIC DEAN 40.00
Highest
$104,546 $0 $104,546
JAY D FORMAN TEACHER 40.00
Highest
$101,570 $22,027 $123,597
RACHEL SIEGEL DIRECTOR OF SCHOOL OPERATION 40.00
Highest
$109,683 $4,330 $114,013
TANESHA B FORMAN PRINCIPAL 40.00
Highest
$155,648 $11,418 $167,066
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 $14,023,846 $15,264,361 $24,699,039 $-1,240,515
2024 $13,776,475 $14,928,760 $27,399,477 $-1,152,285
2023 $13,221,505 $14,548,357 $28,123,202 $-1,326,852
2022 $11,376,710 $14,561,784 $29,255,777 $-3,185,074
2021 $13,299,319 $13,381,043 $33,084,628 $-81,724
2020 $10,703,078 $13,569,412 $33,293,008 $-2,866,334
2019 $13,007,065 $14,669,151 $34,521,313 $-1,662,086
2018 $13,297,603 $14,493,619 $37,787,396 $-1,196,016
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