FRIENDS OF VERITAS PREPARATORY CHARTER SCHOOL INC (EIN 273800650) - 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

RACHEL ROMANO

Phone

4135390055

Tax Period

2024-07-01 to 2025-06-30

FRIENDS OF VERITAS PREPARATORY CHARTER SCHOOL INC, founded in 2010, is a small nonprofit in the Education sector that reported $383K in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. The organization ran a surplus of $181K, a strong 47% operating margin.

Mission

TO ASSIST IN THE ESTABLISHMENT, DEVELOPMENT, IMPROVEMENT AND EXPANSION OF EDUCATIONAL OPPORTUNITIES, FACILITIES AND PROGRAMS OF VERITAS PREPARATORY CHARTER SCHOOL AND TO ASSIST ATTENDING STUDENTS AND TEACHERS IN REALIZING THEIR EDUCATIONAL GOALS.

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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 $49,344

Program Service Revenue $330,181

Investment Income $3,701

Other Revenue $0

TOTAL REVENUE $383,226

Expense Breakdown

Grants Paid $5,740

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $198,133

Other Expenses $196,393

TOTAL EXPENSES $202,133

Year-over-Year Comparison

	2024	2023	Change
Revenue	$383,226	$457,074	-0.2%
Expenses	$202,133	$284,757	-0.3%
Net Income	$181,093	$172,317	+0.1%

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

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

$214,780

Total Directors

$214,780

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RACHEL ROMANO	PRESIDENT	1.00	Officer Director	$0	$24,800	$214,780
AARON MENDELSON	TREASURER	1.00	Officer Director	$0	$0	$0
LISA DOHERTY	CLERK	1.00	Officer Director	$0	$0	$0
LINDSAY HALDEMAN	DIRECTOR (UNTIL 1/2025)	1.00	Director	$0	$0	$0
CARL WISTREICH	DIRECTOR	1.00	Director	$0	$0	$0

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	$383,226	$202,133	$5,875,824	$181,093
2024	$457,074	$284,757	$5,667,520	$172,317
2023	$361,556	$247,317	$5,852,199	$114,239
2022	$1,161,573	$1,079,570	$6,265,627	$82,003
2021	$841,044	$829,812	$6,504,985	$11,232
2020	$1,298,974	$928,642	$6,934,950	$370,332
2019	$700,077	$1,120,111	$6,704,244	$-420,034
2018	$852,875	$277,086	$7,395,274	$575,789

FRIENDS OF VERITAS PREPARATORY CHARTER SCHOOL INC