Mariner Foundation

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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

Bitika Williams

Phone

7044770547

Tax Period

2024-07-01 to 2025-06-30

Mariner Foundation, founded in 2012, is a community nonprofit in the Education sector that reported $2.0M in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $2.0M left a modest 4% surplus.

Mission

To help Mountain Island Day Community Charter School succeed by partnering parents and teachers and providing resources for the school.

Program Service Accomplishments

Program 1

Expenses: $1,950,816 Revenue: $1,727,839

The Mariner Foundation functions as the parent-teacher organization for Mountain Island Day Community Charter School and also owns the physical facilties of the school and holds the associated debt. In FY 19/20, the Foundation borrowed $24,735,000 through a public finance bond offering in order to purchase the school's formerly leased facilities, construct a new educational facility, purchase land for future use, and make a variety of improvements to the school's grounds.The Foundation leases the property to the school in amount equal to the annual debt service requirements.The Foundation also coordinates extra-curricular and ancillary activities for the school such as bus transportation and student activities and collects fees and pays expenses for activities such as dance, art, and athletics.

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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 $183,118

Program Service Revenue $1,727,839

Investment Income $124,063

Other Revenue $0

TOTAL REVENUE $2,035,020

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,950,816

Other Expenses $1,950,816

TOTAL EXPENSES $1,950,816

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,035,020	$2,799,457	-0.3%
Expenses	$1,950,816	$2,277,234	-0.1%
Net Income	$84,204	$522,223	-0.8%

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

100

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
Bitika Williams	President	5.00	Officer Director	$0	$0	$0
Virginia Staley	Secretary	5.00	Officer Director	$0	$0	$0
Stephanie Hill	Director	2.00	Director	$0	$0	$0
Daniel Tart	Director	2.00	Director	$0	$0	$0
Vermaine Shelton	Director	2.00	Director	$0	$0	$0
Tom Winstead	Vice President	2.00	Officer Director	$0	$0	$0
Tammy Winstead	Director	2.00	Director	$0	$0	$0

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	$2,035,020	$1,950,816	$23,382,136	$84,204
2024	$2,799,457	$2,277,234	$23,747,932	$522,223
2023	$4,110,065	$2,095,359	$23,879,788	$2,014,706
2022	$1,793,742	$2,024,207	$22,191,927	$-230,465
2021	$1,130,225	$1,668,869	$22,656,469	$-538,644