PROGRESS IN EDUCATION INC

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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

2009

Legal Domicile

Principal Officer

MIKE QUINLAN

Phone

3143859502

Tax Period

2024-07-01 to 2025-06-30

PROGRESS IN EDUCATION INC, founded in 2009, is a mid-sized nonprofit in the Education sector that reported $10.4M in total revenue in fiscal year 2024. Expenses of $11.8M exceeded revenue, resulting in a 14% operating deficit.

Mission

TO ENSURE ALL STUDENTS ACQUIRE SKILLS, KNOWLEDGE, AND PERSONAL QUALITIES NEEDED FOR SUCCESS IN MIDDLE AND HIGH SCHOOL.

Program Service Accomplishments

Program 1

Expenses: $10,551,173 Revenue: $9,976,470

OPERATE AND MAINTAIN AN EDUCATIONAL INSTITUTION SERVING 406 ENROLLED STUDENTS IN SCHOOL GRADES K-8.

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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 $410,024

Program Service Revenue $9,976,470

Investment Income $50,018

Other Revenue $-28,790

TOTAL REVENUE $10,407,722

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,618,854

Fundraising Expenses $136,405

Program Expenses $10,551,173

Other Expenses $3,200,991

TOTAL EXPENSES $11,819,845

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,407,722	$10,470,298	0.0%
Expenses	$11,819,845	$11,439,254	+0.0%
Net Income	$-1,412,123	$-968,956	+0.5%

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

182

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

$295,490

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUG THAMAN	EXECUTIVE DI	40.00	Officer	$178,862	$19,023	$197,885
MARTINE MCGULL	PRINCIPAL	40.00	Highest	$124,096	$10,972	$135,068
DOEL BAILEY	PRINCIPAL	40.00	Highest	$104,101	$13,887	$117,988
MIKE HALL	DIRECTOR OF	40.00	Officer	$87,662	$9,943	$97,605
KATHY ANDERSON	PRESIDENT	2.00	Officer Director	$0	$0	$0
MIKE CARPENTER	TREASURER	2.00	Officer Director	$0	$0	$0
LINDSAY COMBS	TRUSTEE	2.00	Director	$0	$0	$0
FRED FALKER	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
SHANA FICK	TRUSTEE	2.00	Director	$0	$0	$0
BYRON FRANCIS	TRUSTEE	2.00	Director	$0	$0	$0
TRACEE HOLMES	TRUSTEE	2.00	Director	$0	$0	$0
CANDACE JOHNSON	TRUSTEE	2.00	Director	$0	$0	$0
MIKE QUINLAN	TRUSTEE	2.00	Director	$0	$0	$0
KEN RINDERKNECHT	SECRETARY	2.00	Officer Director	$0	$0	$0
PATRICIA SHIPLEY	TRUSTEE	2.00	Director	$0	$0	$0
KATIE STOUT	TRUSTEE	2.00	Director	$0	$0	$0
ROSS WOOLSEY	TRUSTEE	2.00	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
2025	$10,407,722	$11,819,845	$4,034,502	$-1,412,123
2024	$10,470,298	$11,439,254	$5,512,305	$-968,956
2023	$9,826,682	$9,760,162	$5,986,559	$66,520
2022	$8,502,608	$8,073,311	$5,992,068	$429,297
2021	$8,804,306	$7,342,447	$6,088,802	$1,461,859
2020	$7,186,845	$7,045,743	$5,372,878	$141,102
2019	$6,655,450	$6,325,720	$4,049,369	$329,730
2018	$5,127,787	$4,802,654	$3,806,910	$325,133