CHELSEA ACADEMY 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

2007

Legal Domicile

Principal Officer

J DOUGLAS MCCARTHY

Phone

5406350622

Tax Period

2023-09-01 to 2024-08-31

CHELSEA ACADEMY INC, founded in 2007, is a community nonprofit in the Education sector that reported $3.6M in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum.

Mission

CHELSEA ACADEMY SEEKS TO FORM CONFIDENT YOUNG MEN AND WOMEN EDUCATED IN THE LIBERAL ARTS TRADITION AND THE CATHOLIC FAITH FROM KINDERGARTEN THROUGH 12TH GRADE.

Program Service Accomplishments

Program 1

Expenses: $3,277,218 Revenue: $3,059,880

EDUCATION OF HIGH SCHOOL, MIDDLE SCHOOL, AND LOWER SCHOOL STUDENTS.

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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 $505,569

Program Service Revenue $3,058,850

Investment Income $0

Other Revenue $24,040

TOTAL REVENUE $3,588,459

Expense Breakdown

Grants Paid $973,588

Salaries & Benefits $1,941,131

Fundraising Expenses $100,075

Program Expenses $3,277,218

Other Expenses $724,194

TOTAL EXPENSES $3,638,913

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,588,459	$2,974,291	+0.2%
Expenses	$3,638,913	$3,419,646	+0.1%
Net Income	$-50,454	$-445,355	-0.9%

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

Volunteers

100

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

$243,703

Total Directors

$213,486

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEACON BOB BENYO	DIRECTOR	2.00	Director	$0	$0	$0
PATRICK MIGGINS	DIRECTOR	2.00	Director	$0	$0	$0
BART BEASELEY	DIRECTOR	2.00	Director	$0	$0	$0
JAMES KELLY	DIRECTOR	2.00	Director	$0	$0	$0
LUKE FIER	CFO (THRU AUG 2023) AND TREASURER	1.00	Officer Director	$80,819	$0	$80,819
JOSEPH VORBACH	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH LYONS	SECRETARY	1.00	Officer Director	$0	$0	$0
PATRICK MCCARTHY	DIRECTOR	2.00	Director	$0	$0	$0
J DOUGLAS MCCARTHY	CHAIRMAN	5.00	Officer Director	$0	$0	$0
JOHN M DEJAK	HEAD MASTER	50.00	Officer Director	$132,667	$0	$132,667
DANILLE WILSON	CHIEF FINANCIAL OFFICER	50.00	Officer	$30,217	$0	$30,217
CHRISTOPHER VANDER WOUDE	DEAN OF STUDENTS	50.00	Highest	$102,408	$0	$102,408

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
2024	$3,588,459	$3,638,913	$1,310,122	$-50,454
2023	$2,974,291	$3,419,646	$1,244,665	$-445,355
2022	$2,790,864	$2,238,163	$1,858,559	$552,701
2021	$1,915,821	$1,511,821	$1,179,451	$404,000
2020	$1,520,859	$1,598,150	$819,176	$-77,291
2019	$1,875,997	$1,652,320	$772,545	$223,677
2018	$2,008,248	$2,089,383	$799,294	$-81,135