HARMONY SCHOOL CORPORATION

EIN: 351554219 501(c)(3)

BLOOMINGTON, IN

Total Revenue
$1,249,702
Total Expenses
$1,751,631
Total Assets
$10,460,990
Net Assets
$10,453,232
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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
1983
Legal Domicile
IN
Principal Officer
STEVE BONCHEK
Phone
8123348349
Tax Period
2024-09-01 to 2025-08-31

HARMONY SCHOOL CORPORATION, founded in 1983, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $1.8M exceeded revenue, resulting in a 40% operating deficit.

Mission

THE MISSION OF HARMONY SCHOOL IS TO EDUCATE AND PREPARE YOUNG PEOPLE TO LIVE IN AND CONTRIBUTE TO A HETEROGENEOUS DECMOCRATIC COUNTRY, THROUGH THE DEVELOPMENT OF THE WHOLE STUDENT BY TEACHING CRITICAL THINKING AND ACADEMIC SKILLS.

Program Service Accomplishments

Program 1
Expenses: $1,498,137 Revenue: $944,165

THE MISSION OF HARMONY SCHOOL IS TO EDUCATE AND PREPARE YOUNG PEOPLE TO LIVE IN AND CONTRIBUTE TO A HETEROGENEOUS DECMOCRATIC COUNTRY, THROUGH THE DEVELOPMENT OF THE WHOLE STUDENT BY TEACHING...

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THE MISSION OF HARMONY SCHOOL IS TO EDUCATE AND PREPARE YOUNG PEOPLE TO LIVE IN AND CONTRIBUTE TO A HETEROGENEOUS DECMOCRATIC COUNTRY, THROUGH THE DEVELOPMENT OF THE WHOLE STUDENT BY TEACHING CRITICAL THINKING AND ACADEMIC SKILLS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $136,701
Program Service Revenue $944,165
Investment Income $136,885
Other Revenue $31,951
TOTAL REVENUE $1,249,702

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,148,083
Fundraising Expenses $81,587
Program Expenses $1,498,137
Other Expenses $603,548
TOTAL EXPENSES $1,751,631

Year-over-Year Comparison

2024 2023 Change
Revenue $1,249,702 $1,417,127 -0.1%
Expenses $1,751,631 $1,822,847 0.0%
Net Income $-501,929 $-405,720 +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

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Governance

Voting Members
3
Independent Members
2
Employees
55
Volunteers
80

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
1
$72,695
Total Directors
3
$72,695
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVE BONCHEK PRESIDENT 50.00
Officer Director
$72,695 $0 $72,695
JESSE GOODMAN TREASURER 2.00
Director
$0 $0 $0
ELIZABETH GWYNN SECRETARY 2.00
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 $1,249,702 $1,751,631 $10,460,990 $-501,929
2024 $1,417,127 $1,822,847 $10,441,205 $-405,720
2023 $4,798,716 $1,771,831 $10,014,398 $3,026,885
2022 $3,298,092 $1,634,736 $6,995,883 $1,663,356
2021 $1,513,089 $1,411,575 $6,560,469 $101,514
2020 $1,362,203 $1,572,247 $5,928,645 $-210,044
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