MILKYWAY EDUCATION CENTER INC PIONEER ACADEMY

EIN: 223261282 501(c)(3)

WAYNE, NJ

Total Revenue
$12,509,818
Total Expenses
$11,418,777
Total Assets
$23,733,069
Net Assets
$11,391,062
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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
1993
Legal Domicile
NJ
Principal Officer
ERKAN ERTOSUN
Phone
9734055169
Tax Period
2023-07-01 to 2024-06-30

MILKYWAY EDUCATION CENTER INC PIONEER ACADEMY, founded in 1993, is a mid-sized nonprofit that reported $12.5M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $11.4M left a modest 9% surplus.

Mission

MILKYWAY EDUCATION CENTER INC. FOSTERS AN INCLUSIVE ENVIRONMENT, WITH STATE-OF-THE-ART FACILITIES, FOR STUDENTS TO GROW IN KNOWLEDGE THROUGH A RIGOROUS CURRICULUM GROUNDED IN ETHICAL PRINCIPLES AND MULTICULTURAL AWARENESS, INSPIRED BY ENGAGING FACULTY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $212,976
Program Service Revenue $11,924,464
Investment Income $159,799
Other Revenue $212,579
TOTAL REVENUE $12,509,818

Expense Breakdown

Grants Paid $1,021,786
Salaries & Benefits $6,302,371
Fundraising Expenses $0
Program Expenses $8,386,157
Other Expenses $4,094,620
TOTAL EXPENSES $11,418,777

Year-over-Year Comparison

2023 2022 Change
Revenue $12,509,818 $10,607,195 +0.2%
Expenses $11,418,777 $9,895,439 +0.2%
Net Income $1,091,041 $711,756 +0.5%
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

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Governance

Voting Members
7
Independent Members
7
Employees
106
Volunteers
17

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
7
$377,211
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERKAN ERTOSUN PRESIDENT 0.50
Officer Director
$0 $0 $0
NURAY YURT SECRETARY 0.50
Officer Director
$0 $0 $0
OGUZHAN SENTURK TREASURER 0.50
Officer Director
$0 $0 $0
FATMA SHYTI DOGAN BOARD MEMBER 0.50
Director
$0 $0 $0
HIKMET SAHIN BOARD MEMBER 0.50
Director
$0 $0 $0
METIN BAS BOARD MEMBER 0.50
Director
$0 $0 $0
AYES DELIDOGAN BOARD MEMBER 0.50
Director
$0 $0 $0
AYSE DELIDOGAN BOARD MEMBER 0.50
Director
$0 $0 $0
OGUN AKMAN PRINCIPAL 40.00
Officer
$100,000 $22,128 $122,128
FATIH BULUNGIRAY FINANCE MANAGER 40.00
Officer
$73,543 $2,942 $76,485
ORHAN KERTIM BUSINESS OPERATIONS MANAGER 40.00
Officer
$78,989 $3,159 $82,148
MONICA BAJRAKTERAVIC VICE PRINCIPAL 40.00
Officer
$96,450 $0 $96,450
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 $12,509,818 $11,418,777 $23,733,069 $1,091,041
2023 $10,620,044 $9,898,439 $22,977,953 $721,605
2022 $8,575,459 $7,717,392 $20,000,669 $858,067
2021 $6,601,432 $6,191,787 $17,106,791 $409,645
2020 $6,548,638 $6,342,675 $16,952,475 $205,963
2019 $5,991,806 $6,185,834 $16,895,449 $-194,028
2018 $7,897,841 $7,454,064 $17,019,640 $443,777
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