GRACE ACADEMY INC (EIN 271673012) - 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

2010

Legal Domicile

Principal Officer

KATHLEEN BROMAGE

Phone

8602637535

Tax Period

2023-07-01 to 2024-06-30

GRACE ACADEMY INC, founded in 2010, is a community nonprofit in the Education sector that reported $1.6M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $1.4M left a modest 10% surplus.

Mission

GRACE ACADEMY IS AN INDEPENDENT, INTERFAITH, TUITION-FREE MIDDLE SCHOOL FOR GIRLS FROM UNDERSERVED FAMILIES IN THE CITY OF HARTFORD. WE TRANSFORM THE LIVES OF OUR STUDENTS BY PROVIDING THEM WITH INDIVIDUALIZED ATTENTION, A CHALLENGING AND DIVERSE ACADEMIC PROGRAM, AND A SAFE AND INSPIRING ENVIRONMENT THAT PREPARES GIRLS TO SUCCEED IN HIGH SCHOOL, COLLEGE AND LIFE.

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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 $1,342,458

Program Service Revenue $7,224

Investment Income $245,096

Other Revenue $-22,530

TOTAL REVENUE $1,572,248

Expense Breakdown

Grants Paid $0

Salaries & Benefits $888,733

Fundraising Expenses $111,815

Program Expenses $1,110,648

Other Expenses $529,008

TOTAL EXPENSES $1,417,741

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,572,248	$1,399,530	+0.1%
Expenses	$1,417,741	$1,395,592	+0.0%
Net Income	$154,507	$3,938	+38.2%

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

Volunteers

105

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

$121,602

Total Directors

$149,525

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL BERGIN	BOARD CHAIR EMERITUS	5.00	Director	$0	$0	$0
KATHY BROMAGE	TREASURER	5.00	Officer Director	$0	$0	$0
MARCO CARDUCCI	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER CENTRONE	DIRECTOR	5.00	Director	$0	$0	$0
JOHN CHARETTE	DIRECTOR	1.00	Director	$0	$0	$0
SR MARY ROSE CROWLEY	DIRECTOR	1.00	Director	$0	$0	$0
SARAH LAHR FITZSIMONS	DIRECTOR	1.00	Director	$0	$0	$0
MARCIA HERRERA	DIRECTOR	1.00	Director	$0	$0	$0
LINDSEY MCPHEE	DIRECTOR	1.00	Director	$27,923	$0	$27,923
AURA ALVARADO	DIRECTOR	1.00	Director	$0	$0	$0
MARJORIE MORRISEY	DIRECTOR	5.00	Director	$0	$0	$0
THOMAS SLINEY	DIRECTOR	1.00	Director	$0	$0	$0
NATALIE CORBETT	DIRECTOR	1.00	Director	$0	$0	$0
HILLARY ROCKWELL CAHN	SECRETARY	1.00	Officer Director	$0	$0	$0
KAREN JARMOC	VICE CHAIR	5.00	Officer Director	$0	$0	$0
CHRISTINE JEAN-LOUIS	DIRECTOR	1.00	Director	$0	$0	$0
SUZANNE TAMBURRO	DIRECTOR	1.00	Director	$0	$0	$0
SANDRA MARIN LAUTIER	DIRECTOR	5.00	Director	$0	$0	$0
LAKESHA RIVERA	DIRECTOR	1.00	Director	$0	$0	$0
JANEL SIMPSON	DIRECTOR	1.00	Director	$0	$0	$0
LORI GROTH	DIRECTOR	1.00	Director	$0	$0	$0
KARA MITCHELL	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL TRESSY	DIRECTOR	1.00	Director	$0	$0	$0
YVETTE HIGHSMITH-FRANCIS	BOARD CHAIR	5.00	Officer Director	$0	$0	$0
PRINCESS HYATT	EXECUTIVE DIRECTOR	50.00	Officer Director	$121,602	$0	$121,602

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	$1,572,248	$1,417,741	$5,116,724	$154,507
2023	$1,399,530	$1,395,592	$4,714,110	$3,938
2022	$1,753,911	$1,202,460	$4,383,601	$551,451
2021	$2,423,990	$1,199,337	$4,576,541	$1,224,653
2020	$2,314,624	$1,044,556	$3,202,185	$1,270,068
2019	$1,057,969	$979,758	$1,843,093	$78,211

GRACE ACADEMY INC