TWO ROADS CHARTER SCHOOL (EIN 451054785) - 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

2010

Legal Domicile

Principal Officer

Chris Greenberg

Phone

3034233377

Tax Period

2024-07-01 to 2025-06-30

TWO ROADS CHARTER SCHOOL, founded in 2010, is a community nonprofit in the Education sector that reported $7.0M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

Two Roads Charter School achieves its vision using 21st Century Learning employing and valuing critical thinking communication collaboration and creativity. Homeschooled and traditionally schooled students are challenged in a rigorous academic environment to reach their highest potential.

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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 $597,705

Program Service Revenue $6,308,728

Investment Income $16,122

Other Revenue $67,818

TOTAL REVENUE $6,990,373

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,079,282

Fundraising Expenses $0

Program Expenses $3,631,706

Other Expenses $2,062,968

TOTAL EXPENSES $7,142,250

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,990,373	$6,459,257	+0.1%
Expenses	$7,142,250	$6,446,529	+0.1%
Net Income	$-151,877	$12,728	-12.9%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Chris Greenberg	President	2.00	Officer Director	$0	$0	$0
Gabe Cox	Vice President	2.00	Officer Director	$0	$0	$0
Tami Sandberg	Secretary	2.00	Officer Director	$0	$0	$0
Heather Feigt	Treasurer	2.00	Officer Director	$0	$0	$0
Wendy Noel	Principal	40.00	Highest	$141,293	$34,052	$175,345
John Waters	Assistant Principal	40.00	Highest	$106,794	$25,737	$132,531
Lisa Wick	Dir of Data and Operations	40.00	Highest	$107,612	$25,934	$133,546

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	$6,990,373	$7,142,250	$8,444,585	$-151,877
2024	$6,459,257	$6,446,529	$9,156,468	$12,728
2023	$6,491,233	$5,795,106	$7,889,651	$696,127
2022	$5,886,483	$3,809,799	$7,423,038	$2,076,684
2021	$4,665,507	$3,092,079	$7,912,039	$1,573,428

TWO ROADS CHARTER SCHOOL