NORTHSTAR ACADEMIESINC

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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

2008

Legal Domicile

Principal Officer

BETH ADELMAN

Phone

5612965705

Tax Period

2022-07-01 to 2023-06-30

NORTHSTAR ACADEMIESINC, founded in 2008, is a mid-sized nonprofit in the Education sector that reported $24.0M in total revenue in fiscal year 2022. Revenue grew 20% year-over-year, indicating healthy expansion. Expenses of $22.8M left a modest 5% surplus.

Mission

NORTHSTAR ACADEMIES WAS ESTABLISHED TO PROVIDE AN EDUCATIONAL CHOICE TO STUDENTS WHO HAVE DROPPED OUT OF SCHOOL OR MAY BE IN DANGER OF DROPPING OUT. USING 21ST CENTURY TECHNOLOGY AND A FOCUS ON INDIVIDUALIZED ATTENTION, NORTHSTAR ACADEMIES OFFER STUDENTS, WHO ARE CHALLENGED BY THE TRADITIONAL APPROACH TO LEARNING, THE OPPORTUNITY TO EARN A STATE-RECOGNIZED HIGH SCHOOL DIPLOMA. THESE HIGH-TECH SCHOOLS PROVIDE STUDENTS WITH A STRONG RESEARCH-BASED CURRICULUM AND SUPPORT FOR PURSUING CONTINUING EDUCATION OR A SUITABLE VOCATION.

Program Service Accomplishments

Program 1

Expenses: $17,064,177 Revenue: $20,828,895

OPERATION OF SIX CHARTER SCHOOLS IN SOUTHEAST FLORIDA.

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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 (2022)

Revenue Breakdown

Contributions & Grants $3,165,316

Program Service Revenue $20,815,893

Investment Income $0

Other Revenue $13,002

TOTAL REVENUE $23,994,211

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,966,576

Fundraising Expenses $0

Program Expenses $17,064,177

Other Expenses $14,795,496

TOTAL EXPENSES $22,762,072

Year-over-Year Comparison

	2022	2021	Change
Revenue	$23,994,211	$20,060,347	+0.2%
Expenses	$22,762,072	$19,831,428	+0.1%
Net Income	$1,232,139	$228,919	+4.4%

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

161

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
BETH SHAW ADELMAN	CHAIRMAN	1.00	Officer Director	$0	$0	$0
IRA PAUL	TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT HOLLAND	DIRECTOR	1.00	Director	$0	$0	$0
DOUG SHELTON	DIRECTOR	1.00	Director	$0	$0	$0
MARTIN BURKETT	DIRECTOR	1.00	Director	$0	$0	$0
WALKER SHARARD	LEAD PRINCIPAL	40.00	Highest	$137,673	$0	$137,673
MADRIGAL ALEJANDRO	PRINCIPAL	40.00	Highest	$116,263	$0	$116,263
WALKE DANIEL	PRINCIPAL	40.00	Highest	$126,664	$0	$126,664

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	No data	No data	No data	No data
2023	$23,994,211	$22,762,072	$25,817,085	$1,232,139
2022	$20,060,347	$19,831,428	$20,578,684	$228,919
2021	$17,151,740	$16,220,054	$8,255,029	$931,686
2020	$15,001,799	$15,024,138	$6,460,361	$-22,339
2019	$15,576,425	$14,611,593	$5,427,531	$964,832