TRIAD MATH AND SCIENCE ACADEMY COMPANY

EIN: 208471670 501(c)(3) Education

APEX, NC

Total Revenue
$64,646,722
Total Expenses
$61,693,092
Total Assets
$25,062,634
Net Assets
$24,722,851
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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
NC
Principal Officer
VICTOR OFORI-BOADU
Phone
9196502270
Tax Period
2024-07-01 to 2025-06-30

TRIAD MATH AND SCIENCE ACADEMY COMPANY, founded in 2007, is a mid-sized nonprofit in the Education sector that reported $64.6M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $61.7M left a modest 5% surplus.

Mission

OPERATION OF PUBLIC CHARTER SCHOOLS.

Program Service Accomplishments

Program 1
Expenses: $46,192,518 Revenue: $5,517,670

OPERATED FOUR PUBLIC CHARTER SCHOOLS IN NORTH CAROLINA: TRIAD MATH AND SCIENCE ACADEMY, THE MATH AND SCIENCE ACADEMY OF APEX, THE MATH AND SCIENCE ACADEMY OF CHARLOTTE, AND TRIANGLE MATH AND SCIENCE...

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OPERATED FOUR PUBLIC CHARTER SCHOOLS IN NORTH CAROLINA: TRIAD MATH AND SCIENCE ACADEMY, THE MATH AND SCIENCE ACADEMY OF APEX, THE MATH AND SCIENCE ACADEMY OF CHARLOTTE, AND TRIANGLE MATH AND SCIENCE ACADEMY, SERVING APPROXIMATELY 5,138 STUDENTS FOR THE FISCAL YEAR ENDING JUNE 30, 2025.

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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 $58,850,081
Program Service Revenue $3,780,888
Investment Income $292,302
Other Revenue $1,723,451
TOTAL REVENUE $64,646,722

Expense Breakdown

Grants Paid $0
Salaries & Benefits $38,493,374
Fundraising Expenses $0
Program Expenses $46,192,518
Other Expenses $23,199,718
TOTAL EXPENSES $61,693,092

Year-over-Year Comparison

2024 2023 Change
Revenue $64,646,722 $50,946,959 +0.3%
Expenses $61,693,092 $52,334,089 +0.2%
Net Income $2,953,630 $-1,387,130 -3.1%
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
7
Independent Members
7
Employees
812
Volunteers
7

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
5
$241,082
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
VICTOR OFORI-BOADU PRESIDENT 2.00
Officer Director
$0 $0 $0
MIR NUGMANOV VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
SALIH TUNCER TREASURER 1.00
Officer Director
$0 $0 $0
VICTOR NADBITOV SECRETARY 1.00
Officer Director
$0 $0 $0
FAHRUDIN MEKIC MEMBER 1.00
Director
$0 $0 $0
DR TERRENCE THOMAS MEMBER 1.00
Director
$0 $0 $0
CARLOS HERNANADEZ MEMBER 1.00
Director
$0 $0 $0
BEN KARADUMAN SUPERINTENDENT 40.00
Officer
$241,082 $0 $241,082
FATIH KANDIL TMSA-TRIAD PRINCIPAL 40.00
Highest
$179,050 $0 $179,050
DIANA GUNESGOR TMSA-TRIAD PRINCIPAL 40.00
Highest
$170,059 $0 $170,059
ERAY IDIL DEPUTY SUPERINTENDENT 40.00
Highest
$169,727 $0 $169,727
SERDAR YUKSEKKAYA TMSA-APEX PRINCIPAL 40.00
Highest
$165,031 $0 $165,031
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 $64,646,722 $61,693,092 $25,062,634 $2,953,630
2024 No data No data No data No data
2023 $46,727,230 $48,308,357 $17,976,351 $-1,581,127
2022 $31,315,517 $26,616,996 $19,619,487 $4,698,521
2021 $25,994,464 $21,457,855 $12,436,639 $4,536,609
2020 $21,122,467 $21,527,102 $10,252,372 $-404,635
2019 $20,660,259 $17,367,005 $7,987,828 $3,293,254
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