GATEWAY PREPARATORY ACADEMY

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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

2007

Legal Domicile

Principal Officer

DAVID ARMOUR

Phone

4358675558

Tax Period

2024-07-01 to 2025-06-30

GATEWAY PREPARATORY ACADEMY, founded in 2007, is a mid-sized nonprofit in the Education sector that reported $10.1M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.2M, a strong 22% operating margin.

Mission

TO MANAGE, OPERATE, GUIDE, DIRECT, AND PROMOTE A PUBLIC CHARTER SCHOOL FUNDED BY LOCAL, STATE, AND FEDERAL SOURCES. FOCUS ON INCREASED INDIVIDUAL ATTENTION TO IMPROVE STUDENT LEARNING, AS WELL AS, ALLOWING STUDENTS TO PROGRESS AT THEIR OWN PACE.

Program Service Accomplishments

Program 1

Expenses: $7,411,398 Revenue: $83,032

OPERATES A PUBLIC CHARTER SCHOOL FOR STUDENTS GRADES KINDERGARTEN TO EIGHTH GRADE.

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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 $9,683,428

Program Service Revenue $83,032

Investment Income $348,531

Other Revenue $9,447

TOTAL REVENUE $10,124,438

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,509,346

Fundraising Expenses $0

Program Expenses $7,411,398

Other Expenses $2,438,075

TOTAL EXPENSES $7,947,421

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,124,438	$9,048,206	+0.1%
Expenses	$7,947,421	$7,404,477	+0.1%
Net Income	$2,177,017	$1,643,729	+0.3%

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

153

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

$171,188

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRITTANY JENSEN	CHAIR	1.50	Officer Director	$0	$0	$0
PAUL DAIL	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
ROGER CARTER	TREASURER	1.50	Officer Director	$0	$0	$0
WYET IHLER	BOARD MEMBER	1.00	Director	$0	$0	$0
AMY BATES	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL BAHR	BOARD MEMBER	1.00	Director	$0	$0	$0
DIANA GIRTAIN	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID ARMOUR	EXECUTIVE DIRECTOR	40.00	Officer	$135,255	$35,933	$171,188
JONADA MUNK	BUSINESS MANAGER	40.00	Highest	$138,005	$13,381	$151,386

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	$10,124,438	$7,947,421	$16,604,637	$2,177,017
2024	$9,048,206	$7,404,477	$14,657,816	$1,643,729
2023	$7,838,732	$6,755,459	$13,215,728	$1,083,273
2022	$7,491,412	$6,309,036	$12,324,077	$1,182,376
2021	$6,460,724	$5,807,972	$11,367,910	$652,752
2020	$6,042,447	$5,421,317	$10,860,812	$621,130
2019	$5,561,538	$5,171,379	$10,399,366	$390,159
2018	$5,044,390	$4,637,602	$10,203,174	$406,788