SPARTANBURG PREPARATORY 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

2009

Legal Domicile

Principal Officer

TOMIKIA WHITMIRE

Phone

8645851020

Tax Period

2024-07-01 to 2025-06-30

SPARTANBURG PREPARATORY SCHOOL, founded in 2009, is a community nonprofit in the Education sector that reported $6.8M in total revenue in fiscal year 2024.

Mission

OUR ULTIMATE MISSION IS TO PROMOTE HIGH ACADEMIC EXCELLENCE TO ALL STUDENTS THROUGH INQUIRY BASED LEARNING SUPPORTED BY TEACHERS, ADMINISTRATORS, AND STAKEHOLDERS. AT SPARTANBURG PREPARATORY SCHOOL, OUR HIGHLY TALENTED TEACHERS AND STAFF ENSURE THAT STUDENTS ARE PREPARED FOR UNLIMITED POSSIBILITIES NOW AND WHEN THEY LEAVE SPARTANBURG PREPARATORY SCHOOL.

Program Service Accomplishments

Program 1

Expenses: $5,894,409 Revenue: $407,433

THE ADMINISTRATION AT SPARTANBURG PREPARATORY SCHOOL HAS IMPLEMENTED A NEW ELA CURRICULUM AND NEW STRATEGIES RELATED TO PROFESSIONAL LEARNING COMMUNITIES TO HELP DRIVE STUDENT PERFORMANCE AND ENHANCE TEACHER PEDAGOGY. ADDITIONALLY THE SCHOOL HAS REVAMPED THE SCHOOLWIDE MTSS PROGRAM WHICH ALLOWS FOR MORE SPECIFIC STUDENT INTERVENTIONS.

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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 $6,309,973

Program Service Revenue $407,433

Investment Income $130,921

Other Revenue $465

TOTAL REVENUE $6,848,792

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,749,881

Fundraising Expenses $0

Program Expenses $5,894,409

Other Expenses $2,518,169

TOTAL EXPENSES $7,268,050

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,848,792	$7,183,067	0.0%
Expenses	$7,268,050	$7,366,695	0.0%
Net Income	$-419,258	$-183,628	+1.3%

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

131

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

$131,390

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC HARRIS	MEMBER-AT-LARGE	0.50	Director	$0	$0	$0
JORDAN BROWN	SECRETARY	0.50	Officer Director	$0	$0	$0
VONNE MCCLAIN	EX-OFFICIO	0.50	Director	$0	$0	$0
KIERA BRROWN	VICE CHAIR	0.50	Officer Director	$0	$0	$0
SHANTELL WILKINS	BOARD CHAIR	0.50	Officer Director	$0	$0	$0
REBECCA MUELLER	MEMBER-AT-LARGE	0.50	Director	$0	$0	$0
AMANDA PAGE	TREASURER	0.50	Officer Director	$0	$0	$0
LAKESA WHITNER	MEMBER-AT-LARGE	0.50	Director	$0	$0	$0
TOMIKIA WHITMIRE	EXECUTIVE DIRECTOR	40.00	Officer	$126,020	$5,370	$131,390

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	$6,848,792	$7,268,050	$11,825,796	$-419,258
2024	$7,183,067	$7,366,695	$12,444,748	$-183,628
2023	$7,316,811	$7,885,239	$12,872,168	$-568,428
2022	$7,485,170	$7,658,351	$13,623,452	$-173,181
2021	$7,460,007	$7,588,350	$14,756,294	$-128,343
2020	$6,079,567	$6,405,408	$14,616,551	$-325,841
2019	$6,067,370	$5,335,361	$7,832,011	$732,009
2018	$5,229,018	$4,571,798	$7,158,785	$657,220