ELGIN CHARTER SCHOOL INITIATIVE

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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

2012

Legal Domicile

Principal Officer

KATHRYN MARTINEZ

Phone

6308835015

Tax Period

2024-07-01 to 2025-06-30

ELGIN CHARTER SCHOOL INITIATIVE, founded in 2012, is a community nonprofit in the Education sector that reported $8.0M in total revenue in fiscal year 2024. Expenses of $9.0M exceeded revenue, resulting in a 13% operating deficit.

Mission

TOGETHER, WE WILL EQUIP OUR STUDENTS TO BE SUCCESSFUL IN A CHANGING WORLD AND WE WILL EMPOWER THEM TO THINK CRITICALLY WITH A GLOBAL PERSPECTIVE WHILE LIVING OUT OUR HABITS OF SCHOLARSHIP: RESPECT, RESPOSIBILITY, COURAGE AND CREATIVITY.

Program Service Accomplishments

Program 1

Expenses: $7,609,458 Revenue: $203,935

ELGIN MATH & SCIENCE ACADEMY CHARTER SCHOOL (EMSA) IS A TUITION-FREE, K-8 PUBLIC CHARTER SCHOOL OPERATING UNDER CHARTER FROM THE ILLINOIS STATE BOARD OF EDUCATION. EMSA'S SERVICE GEOGRAPHY IS THE...

ELGIN MATH & SCIENCE ACADEMY CHARTER SCHOOL (EMSA) IS A TUITION-FREE, K-8 PUBLIC CHARTER SCHOOL OPERATING UNDER CHARTER FROM THE ILLINOIS STATE BOARD OF EDUCATION. EMSA'S SERVICE GEOGRAPHY IS THE BOUNDARIES OF SCHOOL DISTRICT U-46. EMSA OPENED IN 2018 AND IN SY24-25, SERVED APPROXIMATELY 498 STUDENTS, GRADES K-8 ON ITS 19-ACRE CAMPUS LOCATED AT 1600 DUNDEE ROAD, ELGIN IL 60120. EMSA IS AN EL EDUCATION PUBLIC CHARTER SCHOOL, WHICH STRIVES TO SUPPORT THE WHOLE CHILD AND TO DEVELOP SOCIALLY RESPONSIBLE LEADERS WHO ASPIRE TO CREATE A BETTER WORLD.

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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 $7,698,531

Program Service Revenue $203,935

Investment Income $52,593

Other Revenue $1,129

TOTAL REVENUE $7,956,188

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,598,466

Fundraising Expenses $0

Program Expenses $7,609,458

Other Expenses $4,398,147

TOTAL EXPENSES $8,996,613

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,956,188	$7,577,320	+0.1%
Expenses	$8,996,613	$8,072,515	+0.1%
Net Income	$-1,040,425	$-495,195	+1.1%

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

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
SUE BENNETT	CHAIR	8.00	Officer Director	$0	$0	$0
KERRY KELLY	VICE CHAIR	3.00	Officer Director	$0	$0	$0
PAUL STAGEN	TREASURER	2.00	Officer Director	$0	$0	$0
DOREE HAIGHT	SECRETARY	2.00	Officer Director	$0	$0	$0
BETHEA LANE	DIRECTOR	2.00	Director	$0	$0	$0
SARAH BECK	DIRECTOR	2.00	Director	$0	$0	$0
AKASH GANDHI	DIRECTOR	2.00	Director	$0	$0	$0
HILYN SENNHOLTZ	DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER DELGADO	DIRECTOR	2.00	Director	$0	$0	$0
ALAN SCIMECA	DIRECTOR	2.00	Director	$0	$0	$0
JACQUELYN WILLER	PRINCIPAL	40.00	Highest	$136,316	$0	$136,316
MARCO TRUJILLO	IT DIRECTOR	40.00	Highest	$105,768	$0	$105,768
DANIEL ALEXANDER	CHIEF OPERATING OFFICER	40.00	Highest	$126,900	$0	$126,900

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	$7,956,188	$8,996,613	$18,417,660	$-1,040,425
2024	$7,577,320	$8,072,515	$18,520,628	$-495,195
2023	$6,526,637	$6,687,299	$19,222,973	$-160,662
2022	$5,817,869	$5,501,310	$11,546,145	$316,559
2021	$6,777,954	$3,911,948	$9,575,876	$2,866,006
2020	$3,453,051	$3,390,926	$1,667,562	$62,125
2019	$2,857,896	$2,599,448	$856,444	$258,448
2018	$365,545	$207,029	$208,078	$158,516