MILKYWAY EDUCATION CENTER INC PION… - Form 990 Financial Data

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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

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

PIONEER ACADEMY 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.

Program Service Accomplishments

Program 1

Expenses: $8,386,157 Revenue: $11,924,464

THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE PRIVATE EDUCATION SERVICES FOR ELEMENTARY AND HIGH SCHOOL CHILDREN AS WELL AS ESL CLASSES FOR ADULTS.

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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 $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

Governance

Voting Members

Independent Members

Employees

106

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

$377,211

Total Directors

Key Employees

Highest Compensated

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

MILKYWAY EDUCATION CENTER INC PIONEER ACADEMY