Wheaton Academy (EIN 362388793) - 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

1958

Legal Domicile

Phone

6305627500

Tax Period

2023-08-01 to 2024-07-31

Wheaton Academy, founded in 1958, is a mid-sized nonprofit in the Education sector that reported $26.7M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.8M, a strong 25% operating margin.

Mission

Operation of an accredited high school

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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 (2023)

Revenue Breakdown

Contributions & Grants $10,735,988

Program Service Revenue $15,107,687

Investment Income $878,271

Other Revenue $-12,507

TOTAL REVENUE $26,709,439

Expense Breakdown

Grants Paid $3,347,526

Salaries & Benefits $9,245,695

Fundraising Expenses $729,643

Program Expenses $14,126,191

Other Expenses $7,307,821

TOTAL EXPENSES $19,901,042

Year-over-Year Comparison

	2023	2022	Change
Revenue	$26,709,439	$21,917,855	+0.2%
Expenses	$19,901,042	$19,554,613	+0.0%
Net Income	$6,808,397	$2,363,242	+1.9%

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

250

Volunteers

140

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

$503,944

Total Directors

$345,458

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dave Torres	Treasurer	1.0	Officer Director	$0	$0	$0
Mark Anderson	President	1.0	Officer Director	$0	$0	$0
Martha Van Zee	Secretary	1.0	Officer Director	$0	$0	$0
Mike English	Vice President	1.0	Officer Director	$0	$0	$0
Steven Bult	Head of School / Trustee	40.0	Officer Director	$218,052	$38,528	$256,580
Alex Bell	Trustee	1.0	Director	$0	$0	$0
Dave Eldersveld	Trustee	1.0	Director	$0	$0	$0
Dr Eugene Frost	Exec Director WAI & WAF	20.0	Director	$68,832	$20,046	$88,878
Janel Pritchard	Trustee	1.0	Director	$0	$0	$0
Joann Mayo	Trustee	1.0	Director	$0	$0	$0
Joe Selvaggio	Trustee	1.0	Director	$0	$0	$0
Randy Renn	Trustee	1.0	Director	$0	$0	$0
Steven Pearson	Trustee	1.0	Director	$0	$0	$0
Tim Larson	Trustee	1.0	Director	$0	$0	$0
Weldon Williams	Trustee	1.0	Director	$0	$0	$0
Wendy Fernandes	Trustee	1.0	Director	$0	$0	$0
Steve Karlson	COO/CFO	40.0	Officer	$175,194	$72,170	$247,364
Josh Burick	Educational Tech Director	40.0	Highest	$115,974	$59,025	$174,999
Kori Hockett	Principal	40.0	Highest	$133,741	$16,730	$150,471
Paul Lucas Regan	Science Department Head	40.0	Highest	$103,351	$36,637	$139,988
Phil Strzalka	Business and Innovation Program Director	32.0	Highest	$153,803	$38,341	$192,144

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	$26,709,439	$19,901,042	$67,923,396	$6,808,397
2023	$21,917,855	$19,554,613	$55,453,288	$2,363,242
2022	$25,254,594	$19,190,140	$48,341,275	$6,064,454
2021	$18,989,425	$18,103,307	$41,216,883	$886,118
2020	$19,169,438	$17,205,507	$39,684,406	$1,963,931
2019	$17,206,661	$16,960,604	$44,629,919	$246,057
2018	$16,089,664	$16,171,286	$44,142,836	$-81,622

Wheaton Academy