Alain Locke Charter School

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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

1997

Legal Domicile

Phone

3128936600

Tax Period

2024-07-01 to 2025-06-30

Alain Locke Charter School, founded in 1997, is a community nonprofit in the Education sector that reported $7.2M in total revenue in fiscal year 2024.

Mission

Alain Locke Charter School serves as a demonstration for urban schools exemplifying excellence in academics, the arts, personal and social development, and preparing students who are globally competitive. One of Chicago's first public, open enrollment charter schools, Alain Locke Charter School is one of the most successful urban charter schools in the United States. Located in the heart of Chicago's West Side, Alain Locke Charter School serves students in grades Pre-K through 8. The Charter School is a wholly owned subsidiary of Accelerate Institute.

Program Service Accomplishments

Program 1

Expenses: $7,294,281 Revenue: $4,321

ALAIN LOCKE CHARTER SCHOOL (ALAIN LOCKE), NAMED FOR THE FIRST AFRICAN-AMERICAN RHODES SCHOLAR, MODELS ABSOLUTE EXCELLENCE IN CHICAGO'S HISTORICALLY UNDER SERVED EAST GARFIELD PARK NEIGHBORHOOD. WITH A LEARNER-CENTERED APPROACH AND A FOCUS ON PREPARING STUDENTS FOR A SUCCESSFUL COLLEGE EXPERIENCE, THE GOAL OF ALAIN LOCKE IS TO SERVE AS A MODEL FOR INNOVATIVE URBAN EDUCATION AND TO PRODUCE STUDENTS WHO ARE GLOBALLY COMPETITIVE. OFFERING AN EXTENDED DAY AND YEAR-ROUND PROGRAM, ALAIN LOCKE PROVIDES ELEMENTARY EDUCATION FOR CHILDREN IN PRE-KINDERGARTEN THROUGH EIGHTH GRADE. LOCATED IN EAST GARFIELD PARK ON CHICAGO'S WEST SIDE, THE STUDENTS ARE PRIMARILY AFRICAN-AMERICAN. AT ALAIN LOCKE, MORE THAN 90% OF THE STUDENTS ARE ELIGIBLE FOR FREE OR REDUCED LUNCH. ALAIN LOCKE PLACES EMPHASIS ON CHARACTER EDUCATION, ALONG WITH A POSITIVE, DISCIPLINED, AND NURTURING SCHOOL CULTURE, AND SUPPORT FOR STUDENTS IN ESTABLISHING PATTERNS OF SUCCESS AND BECOMING LIFELONG LEARNERS. TALENTED AND DEDICATED EDUCATORS ARE DRAWN TO ALAIN LOCKE BECAUSE OF ITS COMMITMENT TO PROVIDING QUALITY PROFESSIONAL DEVELOPMENT, AS WELL AS OPPORTUNITIES FOR LEADERSHIP AND TO WORK COLLABORATIVELY WITH COLLEAGUES.

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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 $7,003,663

Program Service Revenue $4,321

Investment Income $142,655

Other Revenue $0

TOTAL REVENUE $7,150,639

Expense Breakdown

Grants Paid $23,500

Salaries & Benefits $5,394,594

Fundraising Expenses $31,735

Program Expenses $7,294,281

Other Expenses $2,154,810

TOTAL EXPENSES $7,572,904

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,150,639	$7,071,980	+0.0%
Expenses	$7,572,904	$6,672,801	+0.1%
Net Income	$-422,265	$399,179	-2.1%

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

Volunteers

393

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

$688,726

Total Directors

$302,503

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Catherine Burns	Chair / Director	10.0	Officer Director	$0	$19,550	$253,878
Claire Hartfield	Vice Chair/Director	15.0	Officer Director	$0	$0	$48,625
Nora Ligurotis	Vice Chair/Director	1.0	Officer Director	$0	$0	$0
Carla Black	Director (Begin 10/7/24)	1.0	Director	$0	$0	$0
James Palos	Director	1.0	Director	$0	$0	$0
John McLaughlin	Director	1.0	Director	$0	$0	$0
Nosa Ehimwenman	Director	1.0	Director	$0	$0	$0
Patrick G Ryan Jr	Director	5.0	Director	$0	$0	$0
Robert Horne	Director	1.0	Director	$0	$0	$0
Shabree Todd	Director & Parent Rep.	1.0	Director	$0	$0	$0
Steven Perlman	Director	1.0	Director	$0	$0	$0
Dawn Moore	Assistant Treasurer	1.0	Officer	$0	$0	$0
Erin Gilmore	Secretary	2.0	Officer	$0	$16,102	$147,532
Judy McGarvey	Treasurer	30.0	Officer	$0	$0	$0
Patrick Love	Principal	40.0	Officer	$188,662	$50,029	$238,691
Eboni Harris	Case Manager	40.0	Highest	$101,852	$31,558	$133,410
Jennifer Mitch	Instructor	40.0	Highest	$121,832	$33,888	$155,720
Vonyell Foster	Dean of Students	40.0	Highest	$114,540	$13,273	$127,813

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	$7,150,639	$7,572,904	$5,564,745	$-422,265
2024	$7,071,980	$6,672,801	$5,828,905	$399,179
2023	$6,573,932	$6,493,832	$5,595,935	$80,100
2022	$7,260,033	$6,619,858	$5,862,579	$640,175
2021	$6,313,577	$5,896,823	$5,465,097	$416,754
2020	$5,958,108	$5,663,450	$3,163,026	$294,658
2019	$5,738,734	$5,697,705	$2,912,871	$41,029
2018	$6,466,281	$6,092,961	$2,963,241	$373,320