ARGONAUT

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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

2010

Legal Domicile

Principal Officer

DAVID ANDREW FERGUSON

Phone

2168604883

Tax Period

2024-07-01 to 2025-06-30

ARGONAUT, founded in 2010, is a community nonprofit in the Public Safety sector that reported $1.2M in total revenue in fiscal year 2024. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $1.5M exceeded revenue, resulting in a 22% operating deficit.

Mission

ARGONAUT PROVIDES EDUCATIONAL SUPPORT AND PROFESSIONAL TRAINING SERVICES IN THE FIELDS OF AEROSPACE AND MARITIME. OUR PRIMARY FOCUS IS OUR DAVIS AEROSPACE AND MARITIME HIGH SCHOOL. ARGONAUT LEVERAGES OUR POSITION A PROFESSIONAL RESOURCE IN THE AEROSPACE AND MARITIME SECTORS TO SUPPORT AND PROMOTE OUR STUDENTS AS THEY PROGRESS ON THEIR JOURNEY.

Program Service Accomplishments

Program 1

Expenses: $1,255,685 Revenue: $203,540

ARGONAUT CONTINUES TO EXPAND AND IMPROVE OUR PROGRAMMING AT OUR DAVIS AEROSPACE AND MARITIME HIGH SCHOOL. STUDENTS AND STAFF CONTINUE TO RECEIVE SIGNIFICANT SUPPORT FROM ARGONAUT TEAM IN THE...

ARGONAUT CONTINUES TO EXPAND AND IMPROVE OUR PROGRAMMING AT OUR DAVIS AEROSPACE AND MARITIME HIGH SCHOOL. STUDENTS AND STAFF CONTINUE TO RECEIVE SIGNIFICANT SUPPORT FROM ARGONAUT TEAM IN THE DEVELOPMENT AND EXECUTION OF ACADEMIC AND CAREER TECHNICAL PROGRAMS. ARGONAUT CONTINUES WORK WITH THE PORT OF CLEVELAND MANAGING AND OPERATING THE FLOTSAM AND JETSAM DEBRIS HARVESTING AND WATERWAY MANAGEMENT VESSELS. OUR OTHER PORT OF CLEVELAND SUPPORTED PROGRAM, PHASTAR MARINE SAFETY CONTINUES TO PROVIDE SAFETY SERVICES ON LOCAL WATERWAYS AND IS EXPANDING INTO PROFESSIONAL WATER RESCUE TRAINING FOR STUDENTS AND FIRST RESPONDERS. THESE PROGRAMS GENERATE NON-TRADITIONAL REVENUE FOR A NON-PROFIT AND ARE MODELING OUR INTENTIONS TO EXPAND THESE TYPES OF ACADEMICALLY BASED ENTERPRISE. WE CONTINUE TO INCREASE OUR STUDENT ENROLLMENT AND CAREER PATH OPPORTUNITIES.

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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 $1,038,272

Program Service Revenue $203,540

Investment Income $10,250

Other Revenue $-26,958

TOTAL REVENUE $1,225,104

Expense Breakdown

Grants Paid $0

Salaries & Benefits $770,234

Fundraising Expenses $98,685

Program Expenses $1,255,685

Other Expenses $722,937

TOTAL EXPENSES $1,493,171

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,225,104	$1,632,511	-0.2%
Expenses	$1,493,171	$1,634,122	-0.1%
Net Income	$-268,067	$-1,611	+165.4%

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

Volunteers

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

$109,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC PEACE	PRESIDENT	3.00	Officer Director	$0	$0	$0
JOCELYN HARRISON	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
RON CORDARO	FORMER TREASURER	3.00	Officer Director	$0	$0	$0
STEVE PEPLIN	TREASURER	3.00	Officer Director	$0	$0	$0
JAMES MARRA	DIRECTOR	3.00	Director	$0	$0	$0
MICHAEL SCHOOP	DIRECTOR	3.00	Director	$0	$0	$0
KENT STAUFFER	DIRECTOR	3.00	Director	$0	$0	$0
JOHN WIITALA	DIRECTOR	3.00	Director	$0	$0	$0
DEREK MOORE	DIRECTOR	3.00	Director	$0	$0	$0
RICK BROWN	DIRECTOR	3.00	Director	$0	$0	$0
ROBERT BURGER	DIRECTOR	3.00	Director	$0	$0	$0
PAUL CHRISTENSEN	DIRECTOR	3.00	Director	$0	$0	$0
DAVID FERGUSON	CEO	40.00	Officer	$109,000	$0	$109,000
ANNEMARIE GRASSI AMEFIA	FORMER COO	0.00		$239,288	$0	$239,288

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	$1,225,104	$1,493,171	$779,480	$-268,067
2024	$1,632,511	$1,634,122	$528,652	$-1,611
2022	$417,671	$614,010	$308,006	$-196,339
2021	$815,721	$880,243	$463,978	$-64,522
2020	$496,632	$653,433	$538,634	$-156,801
2019	$626,653	$613,509	$442,611	$13,144
2018	$467,964	$512,829	$412,222	$-44,865