FRIENDS SCHOOL CORPORATION

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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

1969

Legal Domicile

Principal Officer

ERICA SALMON

Phone

8564782908

Tax Period

2024-08-01 to 2025-07-31

FRIENDS SCHOOL CORPORATION, founded in 1969, is a community nonprofit that reported $4.6M in total revenue in fiscal year 2024.

Mission

FRIENDS SCHOOL IS AN INDEPENDENT, COEDUCATIONAL, QUAKER DAY SCHOOL.

Program Service Accomplishments

Program 1

Expenses: $3,689,667 Revenue: $4,509,565

TO EDUCATE STUDENTS FROM PRE-KINDERGARTEN THROUGH EIGHTH GRADE. WE HAVE A STRONG ACADEMIC PROGRAM, A COMMITMENT TO THE ARTS, AND A SCHOOL COMMUNITY THAT STRESSES MUTUAL RESPECT AMONG ALL ITS MEMBERS.

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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 $96,153

Program Service Revenue $4,455,491

Investment Income $36,558

Other Revenue $54,074

TOTAL REVENUE $4,642,276

Expense Breakdown

Grants Paid $908,307

Salaries & Benefits $2,540,126

Fundraising Expenses $96,445

Program Expenses $3,689,667

Other Expenses $1,378,290

TOTAL EXPENSES $4,826,723

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,642,276	$4,351,108	+0.1%
Expenses	$4,826,723	$4,428,969	+0.1%
Net Income	$-184,447	$-77,861	+1.4%

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

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

$197,123

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CURT LEFFERTS	TRUSTEE	2.00	Director	$0	$0	$0
VICTORIA KUHN	TRUSTEE	2.00	Director	$0	$0	$0
HANSHI DESHBANDHU	TRUSTEE	2.00	Director	$0	$0	$0
KATHLEEN STETSER	AUDIT COMMITTEE CLERK	2.00	Director	$0	$0	$0
MIKE AYARS	TEASURER AND ASSETS COMMIT	2.00	Officer Director	$0	$0	$0
CORI MCMAHON	BOARD CLERK	2.00	Director	$0	$0	$0
JESSICA WADDINGTON	TRUSTEE	2.00	Director	$0	$0	$0
DAVID CALAMARO	CLERK	2.00	Officer Director	$0	$0	$0
STEVE WADDINGTON	TRUSTEESHIP CLERK	2.00	Director	$0	$0	$0
ALEXANDRA BENAS	TRUSTEE	2.00	Director	$0	$0	$0
JENEL GILES	TRUSTEE	2.00	Director	$0	$0	$0
MELISSA MCCOURT	TRUSTEE	2.00	Director	$0	$0	$0
MATTHEW BRADLEY	HEAD OF SCHOOL, FORMER	40.00	Officer	$173,172	$23,951	$197,123
ERICA SALMON	HEAD OF SCHOOL (AUG 1, 2025)	40.00	Officer	$0	$0	$0

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	$4,642,276	$4,826,723	$5,564,332	$-184,447
2024	$4,351,108	$4,428,969	$5,955,315	$-77,861
2023	$4,192,825	$4,198,347	$5,934,480	$-5,522
2022	$4,696,625	$3,902,534	$5,765,648	$794,091
2021	$3,597,148	$3,593,321	$4,620,881	$3,827
2020	$3,239,410	$3,630,675	$4,263,339	$-391,265
2019	$2,121,584	$2,516,635	$4,535,249	$-395,051
2018	$1,992,314	$2,326,065	$4,785,657	$-333,751