THE PATHWAY SCHOOL (EIN 232586474) - Form 990 Financial Analysis & Trantor Score

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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

1986

Legal Domicile

Principal Officer

DAVID J SCHULTHEIS

Phone

6102770660

Tax Period

2024-07-01 to 2025-06-30

THE PATHWAY SCHOOL, founded in 1986, is a mid-sized nonprofit that reported $15.5M in total revenue in fiscal year 2024.

Mission

TO BUILD ACADEMIC, SOCIAL AND LIFE SKILLS IN STUDENTS WITH SPECIAL NEEDS TO PROMOTE THEIR SUCCESS AND INDEPENDENCE AFTER PATHWAY.

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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 $547,681

Program Service Revenue $14,808,045

Investment Income $11,628

Other Revenue $117,935

TOTAL REVENUE $15,485,289

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,716,274

Fundraising Expenses $277,076

Program Expenses $14,023,990

Other Expenses $4,560,191

TOTAL EXPENSES $15,276,465

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,485,289	$14,752,301	+0.0%
Expenses	$15,276,465	$14,480,411	+0.1%
Net Income	$208,824	$271,890	-0.2%

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

149

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

$548,745

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LISA BROWN	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PATTI ROWLAND	VICE CHAIR OF THE BOARD	1.00	Officer Director	$0	$0	$0
COLIN HARTNETT	TREASURER	1.00	Officer Director	$0	$0	$0
CYNTHIA KEAVENEY	SECRETARY	1.00	Officer Director	$0	$0	$0
WILLIAM S HARRIGAN	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS FFUREY JR	DIRECTOR	1.00	Director	$0	$0	$0
H BRAD KERR	DIRECTOR	1.00	Director	$0	$0	$0
EVAN S KOVALSKY	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD MARCUS	DIRECTOR	1.00	Director	$0	$0	$0
FRANCA PALUMBO	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER J PECK	DIRECTOR	1.00	Director	$0	$0	$0
CELESTE SCHWARTZ	DIRECTOR	1.00	Director	$0	$0	$0
EDMOND A WATTERS III	DIRECTOR	1.00	Director	$0	$0	$0
HADLEY WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
LETONYA CLARK	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN PETERS	DIRECTOR	1.00	Director	$0	$0	$0
DAVID J SCHULTHEIS	PRESIDENT AND CEO	40.00	Officer	$249,144	$9,142	$258,286
LORETTA BOBB	ASSISTANT TREASURER	40.00	Officer	$147,469	$25,173	$172,642
DIANA PHIFER	ASSISTANT SECRETARY	40.00	Officer	$100,623	$17,194	$117,817
B CATHERINE LEPLEY	DIRECTOR OF EDUCATION	40.00	Highest	$119,213	$21,345	$140,558
A JORY BARRAD	DIRECTOR OF DEVELOPMENT	40.00	Highest	$128,143	$9,709	$137,852
BRIAN TRUSTY	COO	40.00	Highest	$137,987	$13,250	$151,237
CHRISTINE CHIODO	DIRECTOR OF HR	40.00	Highest	$109,682	$12,355	$122,037
KARA FAWLEY	DIRECTOR OF CLINICAL AND BEHAVIORAL SERVICES	40.00	Highest	$102,052	$19,475	$121,527

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	$15,485,289	$15,276,465	$3,697,931	$208,824
2024	$14,752,301	$14,480,411	$3,651,065	$271,890
2023	$12,812,485	$12,931,192	$4,598,718	$-118,707
2022	$12,917,266	$12,948,495	$3,810,841	$-31,229
2021	$11,694,906	$11,438,566	$2,617,257	$256,340
2020	$11,243,375	$11,663,929	$2,721,392	$-420,554
2019	$11,502,566	$11,067,140	$3,383,267	$435,426

THE PATHWAY SCHOOL