THALES 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

WILLIAM H FRANCIS JR

Phone

9194536415

Tax Period

2023-07-01 to 2024-06-30

THALES ACADEMY, founded in 2007, is a mid-sized nonprofit in the Education sector that reported $71.2M in total revenue in fiscal year 2023. Revenue surged 64% from the prior year, signaling strong growth momentum. The organization ran a surplus of $23.3M, a strong 33% operating margin.

Mission

THALES ACADEMY IS AN INDEPENDENT SCHOOL SERVING STUDENTS FROM PRE-KINDERGARTEN TO TWELFTH GRADE.

Program Service Accomplishments

Program 1

Expenses: $45,821,924 Revenue: $35,366,488

OPERATED SCHOOL FACILITIES IN APEX, CARY, HOLLY SPRINGS, KNIGHTDALE, RALEIGH, ROLESVILLE, WAKE FOREST, AND WAXHAW, NORTH CAROLINA, FRANKLIN, TENNESSEE AND GLEN ALLEN, VIRGINIA. THESE SCHOOLS HAVE THE...

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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 (2023)

Revenue Breakdown

Contributions & Grants $32,483,371

Program Service Revenue $37,333,594

Investment Income $905,575

Other Revenue $485,582

TOTAL REVENUE $71,208,122

Expense Breakdown

Grants Paid $214,306

Salaries & Benefits $30,557,767

Fundraising Expenses $125,752

Program Expenses $45,821,924

Other Expenses $17,144,778

TOTAL EXPENSES $47,916,851

Year-over-Year Comparison

	2023	2022	Change
Revenue	$71,208,122	$43,462,367	+0.6%
Expenses	$47,916,851	$41,602,603	+0.2%
Net Income	$23,291,271	$1,859,764	+11.5%

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

942

Volunteers

131

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

$112,465

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT L LUDDY	PRESIDENT & CHAIR	2.00	Officer Director	$0	$0	$0
WILLIAM H FRANCIS JR	SECRETARY-TREASURER	2.00	Officer Director	$0	$0	$0
JUDY A NUNNENKAMP	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
RANDOLPH L LUDDY	DIRECTOR	2.00	Director	$0	$0	$0
HILERY HERMAN-PAGLIOLO	DIRECTOR OF ACADEMICS	40.00	Officer	$89,814	$22,651	$112,465

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	No data	No data	No data	No data
2024	$71,208,122	$47,916,851	$184,183,775	$23,291,271
2023	$43,462,367	$41,602,603	$158,100,610	$1,859,764
2022	$53,403,024	$32,633,017	$156,547,178	$20,770,007
2021	$55,473,682	$27,296,986	$136,454,160	$28,176,696
2020	$18,592,138	$23,267,652	$101,220,882	$-4,675,514
2019	$57,196,114	$21,057,204	$97,936,432	$36,138,910
2018	$36,289,807	$18,281,882	$68,361,699	$18,007,925