PALMDALE AEROSPACE ACADEMY INC

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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

2011

Legal Domicile

Principal Officer

GINA LYNH

Phone

6612733680

Tax Period

2023-07-01 to 2024-06-30

PALMDALE AEROSPACE ACADEMY INC, founded in 2011, is a mid-sized nonprofit in the Education sector that reported $43.7M in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. Expenses of $39.3M left a modest 10% surplus.

Mission

THE PALMDALE AEROSPACE ACADEMY IS COMMITTED TO ACADEMIC EXCELLENCE. GUIDED BY THE PRINCIPLES AND INNOVATION OF THE AEROSPACE INDUSTRY, THE EDUCATIONAL PROGRAM INTEGRATES STEAM FOCUSED LEARNING WITH REAL WORLD APPLICATIONS PROVIDING OPPORTUNITIES FOR STUDENTS... (CONT. ON SCH. O)...TO DESIGN, CREATE, AND EXPLORE. THROUGH INDUSTRY-INSPIRED LEARNING EXPERIENCES AND PARTNERSHIPS WITH AEROSPACE EMPLOYERS, LOCAL COMMUNITY COLLEGES, AND OTHER PARTNERS, STUDENTS WILL DEVELOP THE SKILLS AND MINDSET NEEDED TO INNOVATE, ADAPT, AND EXCEL IN A RAPIDLY EVOLVING WORLD.

Program Service Accomplishments

Program 1

Expenses: $27,913,262 Revenue: $315,525

OPERATION OF A PUBLIC CHARTER SCHOOL WITH A VISION TO PROVIDE AN ENGAGING ENVIRONMENT FOR LEARNING IN GRADES TK-12. OUR GRADUATES WILL BE SUPPORTED, ENCOURAGED, AND CHALLENGED TO DEVELOP THE...

OPERATION OF A PUBLIC CHARTER SCHOOL WITH A VISION TO PROVIDE AN ENGAGING ENVIRONMENT FOR LEARNING IN GRADES TK-12. OUR GRADUATES WILL BE SUPPORTED, ENCOURAGED, AND CHALLENGED TO DEVELOP THE FOLLOWING COMPETENCIES THAT THEY WILL USE FOR THE REST OF THEIR LIVES: -ETHICAL, RESPONSIBLE CITIZENS WHO LEAD WITH INTEGRITY -FLEXIBLE, ADAPTABLE, IMAGINATIVE, AND RESILIENT LIFE-LONG LEARNERS -CREATORS AND INNOVATORS WHO ARE ARTISTIC AND TECHNOLOGICALLY LITERATE -EMPATHETIC AND COMPASSIONATE INDIVIDUALS -EFFECTIVE COMMUNICATORS, CRITICAL THINKERS, AND PROBLEM-SOLVERS

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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 $41,756,036

Program Service Revenue $315,525

Investment Income $1,594,480

Other Revenue $23,083

TOTAL REVENUE $43,689,124

Expense Breakdown

Grants Paid $0

Salaries & Benefits $25,155,531

Fundraising Expenses $0

Program Expenses $27,913,262

Other Expenses $14,194,034

TOTAL EXPENSES $39,349,565

Year-over-Year Comparison

	2023	2022	Change
Revenue	$43,689,124	$51,636,642	-0.2%
Expenses	$39,349,565	$40,412,875	0.0%
Net Income	$4,339,559	$11,223,767	-0.6%

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

338

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

$97,326

Total Directors

Key Employees

$578,301

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHLEEN DUREN	PRESIDENT	2.00	Officer Director	$0	$0	$0
PAUL SCOTT	SECRETARY	2.00	Officer Director	$0	$0	$0
MARK WEISS	TREASURER	2.00	Officer Director	$0	$0	$0
JUSTIN KNOWLES	DIRECTOR	2.00	Director	$0	$0	$0
ELLEN MCISAAC	DIRECTOR	2.00	Director	$0	$0	$0
DAVID LUJAN	DIRECTOR	2.00	Director	$0	$0	$0
PATRICK BROPHY	DIRECTOR	2.00	Director	$0	$0	$0
GINA LYNCH	SUPERINTENDENT/EXECUTIVE DIRECTOR	40.00	Officer	$73,655	$23,671	$97,326
JULIE LOVVIK	DIRECTOR OF HEALTH SERVICES	40.00	Key Emp	$155,875	$49,521	$205,396
GARY SCHATZ	ES PRINCIPAL	40.00	Key Emp	$154,934	$49,342	$204,276
PAUL DILGER	DIRECTOR OF FACILITIES/M&O	40.00	Key Emp	$151,757	$16,872	$168,629
JULIE FAWCETTE	VICE PRINCIPAL	40.00	Highest	$125,352	$39,762	$165,114
WILLIAM SULLIVAN	HS PRINCIPAL	40.00	Highest	$127,390	$40,149	$167,539
TIMOTHY LANKFORD	MS PRINCIPAL	40.00	Highest	$133,576	$38,718	$172,294
CHRISTOPHER RILEY	DIRECTOR OF SPECIAL EDUCATION	40.00	Highest	$139,127	$46,339	$185,466
CYNTHIA CUPRILL	DIRECTOR OF CURRICULUM/INSTRUCTION	40.00	Highest	$141,969	$46,879	$188,848
JULIE BRASWELL	FORMER SUPTERINTENDENT	40.00		$200,984	$54,132	$255,116

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	No data	No data	No data	No data
2024	$43,689,124	$39,349,565	$117,257,944	$4,339,559
2023	$51,636,642	$40,412,875	$111,415,675	$11,223,767
2022	$36,712,378	$35,000,467	$26,865,897	$1,711,911
2021	$35,585,919	$29,290,521	$22,856,905	$6,295,398
2020	$32,413,010	$31,330,642	$14,446,524	$1,082,368
2019	$22,653,544	$22,288,656	$11,220,063	$364,888
2018	$21,186,997	$19,501,287	$11,005,673	$1,685,710