CLARITAS CLASSICAL ACADEMY (EIN 455191650) - 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

2012

Legal Domicile

Principal Officer

Rebekah T Palmer

Phone

6104579259

Tax Period

2023-07-01 to 2024-06-30

CLARITAS CLASSICAL ACADEMY, founded in 2012, is a small nonprofit in the Education sector that reported $394K in total revenue in fiscal year 2023. Expenses of $454K exceeded revenue, resulting in a 15% operating deficit.

Mission

We assist homeschooling families in achieving meaningful and lasting success in their home education program by using a Classical model of education in a Christian community.

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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 $980

Program Service Revenue $190,218

Investment Income $17,103

Other Revenue $185,730

TOTAL REVENUE $394,031

Expense Breakdown

Grants Paid $0

Salaries & Benefits $304,562

Fundraising Expenses $0

Program Expenses $395,881

Other Expenses $149,799

TOTAL EXPENSES $454,361

Year-over-Year Comparison

	2023	2022	Change
Revenue	$394,031	$393,029	+0.0%
Expenses	$454,361	$354,050	+0.3%
Net Income	$-60,330	$38,979	-2.5%

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

$1,528

Total Directors

Key Employees

$24,108

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jessica Gaffga	Executive Director	40	Key Emp	$24,108	$0	$24,108
Amy Spaulding	Secretary	5	Officer	$1,528	$0	$1,528
Negar Brooks	Board Member	5	Director	$0	$0	$0
Sarah Scudder	Vice-Chair	5	Officer	$0	$0	$0
Christopher Smith	Treasurer	10	Officer	$0	$0	$0
Rebekah Palmer	Chair	5	Officer	$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	No data	No data	No data	No data
2024	$394,031	$454,361	$478,541	$-60,330
2023	$393,029	$354,050	$528,994	$38,979
2022	$378,425	$280,438	$480,380	$97,987
2021	$361,206	$280,447	$476,373	$80,759
2020	$261,652	$272,578	$359,775	$-10,926
2019	$262,614	$265,998	$361,625	$-3,384
2018	$207,560	$189,603	$398,217	$17,957

CLARITAS CLASSICAL ACADEMY