ELGIN ACADEMY (EIN 362205984) - 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

1957

Legal Domicile

Principal Officer

ALAN SCIMECA

Phone

8476950300

Tax Period

2022-07-01 to 2023-06-30

ELGIN ACADEMY, founded in 1957, is a mid-sized nonprofit in the Education sector that reported $10.8M in total revenue in fiscal year 2022. Revenue surged 31% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.8M, a strong 16% operating margin.

Mission

SCHOOL COMMITTED TO ACADEMIC EXCELLENCE AND DEVELOPING THE FULL POTENTIAL OF EACH OF ITS STUDENTS

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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 $4,941,568

Program Service Revenue $5,589,360

Investment Income $6,054

Other Revenue $235,523

TOTAL REVENUE $10,772,505

Expense Breakdown

Grants Paid $2,185,039

Salaries & Benefits $4,014,508

Fundraising Expenses $349,932

Program Expenses $5,836,088

Other Expenses $2,819,806

TOTAL EXPENSES $9,019,353

Year-over-Year Comparison

	2022	2021	Change
Revenue	$10,772,505	$8,213,882	+0.3%
Expenses	$9,019,353	$9,108,298	0.0%
Net Income	$1,753,152	$-894,416	-3.0%

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

102

Volunteers

100

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

$235,314

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE WARREN	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DANIELLE SMILEY	TRUSTEE	1.00	Director	$0	$0	$0
LAURA ANDERSON	TRUSTEE	1.00	Director	$0	$0	$0
SANDY KIRK	TRUSTEE	1.00	Director	$0	$0	$0
ALAN SCIMECA	CHAIRMAN	1.00	Officer Director	$0	$0	$0
FRED MASNATO	TRUSTEE	1.00	Director	$0	$0	$0
KEITH RAUSCHENBERGER	TRUSTEE	1.00	Director	$0	$0	$0
JOHN YAVARI	TRUSTEE	1.00	Director	$0	$0	$0
RHONDA DWYER	SECRETARY	1.00	Officer Director	$0	$0	$0
RICHARD MILONE	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM PADULA	TREASURER	1.00	Officer Director	$0	$0	$0
JAY WITTMEYER	TRUSTEE	1.00	Director	$0	$0	$0
DAVID HUANG	TRUSTEE	1.00	Director	$0	$0	$0
COLETTE LANTON	TRUSTEE	1.00	Director	$0	$0	$0
PRAVEEN MEDIKUNDAM	TRUSTEE	1.00	Director	$0	$0	$0
RACHEL ZONTS	TRUSTEE	1.00	Director	$0	$0	$0
SETH HANFORD	HEAD OF SCHOOL	40.00	Officer	$235,314	$0	$235,314
DOUGLAS SEPT	ASSISTANT HEAD OF SCHOOL	40.00	Highest	$134,574	$0	$134,574

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
2024	No data	No data	No data	No data
2023	$10,772,505	$9,019,353	$17,687,093	$1,753,152
2022	$8,213,882	$9,108,298	$16,000,808	$-894,416
2021	$8,125,869	$7,373,665	$17,506,003	$752,204
2020	$8,404,645	$8,234,031	$17,837,307	$170,614
2019	$8,877,527	$8,708,868	$19,337,615	$168,659
2018	$8,579,236	$8,473,305	$19,939,693	$105,931

ELGIN ACADEMY