BOSTON LATIN ACADEMY ASSOCIATION I… - Form 990 Financial Data

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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

2008

Legal Domicile

Principal Officer

JAMES P DEVER III

Phone

6176359957

Tax Period

2024-01-01 to 2024-12-31

BOSTON LATIN ACADEMY ASSOCIATION INC, founded in 2008, is a small nonprofit in the Education sector that reported $161K in total revenue in fiscal year 2024. Revenue fell 62% from the prior year — a significant decline worth monitoring. Expenses of $235K exceeded revenue, resulting in a 45% operating deficit.

Mission

THE MISSION OF THE BOSTON LATIN ACADEMY ASSOCIATION IS TO SUPPORTEDUCATION AND PROGRAM OBJECTIVES AT THE BOSTON LATIN ACADEMY, A PUBLICSCHOOL IN THE CITY OF BOSTON, AN ENTITY EXEMPT FROM TAXATION UNDERSECTION 501(C)(3) IF THE CODE ENGAGED AN EDUCATIONAL ACTIVITIES.

Program Service Accomplishments

Program 1

Expenses: $169,185 Revenue: $169,185

IN LINE WITH THE ORGANIZATION MISSION

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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 $143,485

Program Service Revenue $0

Investment Income $17,881

Other Revenue $0

TOTAL REVENUE $161,366

Expense Breakdown

Grants Paid $8,004

Salaries & Benefits $0

Fundraising Expenses $2,495

Program Expenses $169,185

Other Expenses $226,631

TOTAL EXPENSES $234,635

Year-over-Year Comparison

	2024	2023	Change
Revenue	$161,366	$428,538	-0.6%
Expenses	$234,635	$253,328	-0.1%
Net Income	$-73,269	$175,210	-1.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES P DEVER III	PRESIDENT	2.00	Officer Director	$0	$0	$0
KAREN MELKONIAN	VICE-PRESIDENT	2.00	Director	$0	$0	$0
CAROL COAKLEY	TREASURER	2.00	Officer Director	$0	$0	$0
GARY HOLNESS	DIRECTOR	2.00	Director	$0	$0	$0
MARLENE VELDWISCH	DIRECTOR	2.00	Director	$0	$0	$0
LINDA MUI	DIRECTOR	2.00	Director	$0	$0	$0
GINGER SAARAHIO	DIRECTOR	2.00	Director	$0	$0	$0
BARB PETERLIN	DIRECTOR	2.00	Director	$0	$0	$0
KIMBERLEY STEPHENSON	DIRECTOR	2.00	Director	$0	$0	$0
CAITLIN DUANE	DIRECTOR	2.00	Officer Director	$0	$0	$0
KATHLEEN KIRLEIS	DIRECTOR	2.00	Director	$0	$0	$0
ANGELIQUE HUSBANDS	DIRECTOR	2.00	Officer Director	$0	$0	$0
CASSANDRA CRICHLOW-CLARK	SECRETARY	2.00	Officer 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	$161,366	$234,635	$691,095	$-73,269
2023	$428,538	$253,328	$747,567	$175,210
2022	$478,372	$278,710	$553,938	$199,662
2021	$319,205	$201,748	$362,264	$117,457
2021	$319,206	$201,748	$362,264	$117,458

BOSTON LATIN ACADEMY ASSOCIATION INC