FIRST STATE MONTESSORI ACADEMY

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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

2009

Legal Domicile

Principal Officer

COURTNEY FOX

Phone

3025761500

Tax Period

2024-07-01 to 2025-06-30

FIRST STATE MONTESSORI ACADEMY, founded in 2009, is a mid-sized nonprofit in the Education sector that reported $12.1M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $10.7M left a modest 12% surplus.

Mission

THE MISSION OF THE FIRST STATE MONTESSORI ACADEMY IS TO CREATE SUCCESSFUL, CONTRIBUTING, LIFE-LONG LEARNERS IN A MONTESSORI PUBLIC EDUCATIONAL PROGRAM FOR STUDENTS IN KINDERGARTEN THROUGH 8TH GRADE.

Program Service Accomplishments

Program 1

Expenses: $8,064,598 Revenue: $3,762,231

FIRST STATE MONTESSORI ACADEMY (FSMA) OPENED IN 2014 IN DOWNTOWN WILMINGTON, DELAWARE. WE SERVE A DIVERSE COMMUNITY OF 600 CHILDREN IN GRADES KINDERGARTEN THROUGH 8TH GRADE. OUR PROGRAM HAS...

FIRST STATE MONTESSORI ACADEMY (FSMA) OPENED IN 2014 IN DOWNTOWN WILMINGTON, DELAWARE. WE SERVE A DIVERSE COMMUNITY OF 600 CHILDREN IN GRADES KINDERGARTEN THROUGH 8TH GRADE. OUR PROGRAM HAS SUCCESSFULLY INTEGRATED A FULLY AUTHENTIC MONTESSORI CURRICULUM WITH THE COMMON CORE STATE STANDARDS. AT THE END OF OUR ACADEMIC YEAR, FSMA HAS MET ALL ACADEMIC, OPERATIONAL, AND FINANCIAL BENCHMARKS SET FORTH BY THE STATE OF DELAWARE.

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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 $7,944,160

Program Service Revenue $3,762,231

Investment Income $435,281

Other Revenue $0

TOTAL REVENUE $12,141,672

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,718,640

Fundraising Expenses $0

Program Expenses $8,064,598

Other Expenses $2,954,464

TOTAL EXPENSES $10,673,104

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,141,672	$10,997,947	+0.1%
Expenses	$10,673,104	$10,921,344	0.0%
Net Income	$1,468,568	$76,603	+18.2%

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

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MEGHAN NEWBERRY	CHAIR	10.00	Officer Director	$0	$0	$0
BECKY PHILLIPS	BOD MEMBER	1.00	Director	$0	$0	$0
MATT PETRIN	TREASURER	1.00	Officer Director	$0	$0	$0
LINDSAY ABRAHAM	SECRETARY	1.00	Officer Director	$0	$0	$0
ANABELLE O'MALLEY	BOD MEMBER	1.00	Director	$0	$0	$0
MATTHEW BENDER	BOD MEMBER	1.00	Director	$0	$0	$0
ALISHAH WATSON	BOD MEMBER	1.00	Director	$0	$0	$0
KRISTEN GIDEON	BOD MEMBER	1.00	Director	$0	$0	$0
RIKKI PETRUCELLI	BOD MEMBER	1.00	Director	$0	$0	$0
EMILY BURTON	BOD MEMBER	1.00	Director	$0	$0	$0
COURTNEY FOX	HEAD OF SCHOOL	37.50	Highest	$162,175	$73,834	$236,009
ELIZABETH MADEN	DIRECTOR OF EDUCATION	37.50	Highest	$115,843	$58,775	$174,618

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	$12,141,672	$10,673,104	$26,922,699	$1,468,568
2024	$10,997,947	$10,921,344	$26,724,465	$76,603
2023	$10,249,424	$11,068,567	$26,634,875	$-819,143
2022	$9,183,891	$10,524,885	$29,682,717	$-1,340,994
2021	$8,779,589	$10,581,416	$28,716,404	$-1,801,827
2020	$9,632,202	$10,805,388	$25,895,465	$-1,173,186
2019	$7,873,955	$8,573,982	$9,685,865	$-700,027
2018	$7,149,941	$7,720,789	$8,151,679	$-570,848