CLASSICAL CHARTER SCHOOLS

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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

LESTER LONG

Phone

7188604340

Tax Period

2023-07-01 to 2024-06-30

CLASSICAL CHARTER SCHOOLS, founded in 2012, is a mid-sized nonprofit in the Education sector that reported $44.2M in total revenue in fiscal year 2023. Expenses of $42.2M left a modest 5% surplus.

Mission

CLASSICAL CHARTER SCHOOLS PREPARES K-8TH GRADE STUDENTS IN THE SOUTH BRONX TO EXCEL IN COLLEGE-PREPARATORY HIGH SCHOOLS. THROUGH A CLASSICAL CURRICULUM AND HIGHLY STRUCTURED SETTING, STUDENTS BECOME LIBERATED SCHOLARS AND CITIZENS OF IMPECCABLE CHARACTER WHO ACHIEVE PROFICIENCY IN AND ADVANCED MASTERY OF NEW YORK STATE PERFORMANCE STANDARDS.

Program Service Accomplishments

Program 1

Expenses: $35,323,130 Revenue: $35,710,198

WE PROVIDE OUR STUDENTS WITH A SOLID FOUNDATION FOR ACADEMIC SUCCESS THROUGH ACHIEVEMENT THAT EXCEEDS CITYWIDE AVERAGES AND MEETS OR EXCEEDS NEW YORK STATE STANDARDS AND NATIONAL NORMS IN ALL...

WE PROVIDE OUR STUDENTS WITH A SOLID FOUNDATION FOR ACADEMIC SUCCESS THROUGH ACHIEVEMENT THAT EXCEEDS CITYWIDE AVERAGES AND MEETS OR EXCEEDS NEW YORK STATE STANDARDS AND NATIONAL NORMS IN ALL CURRICULUM AREAS TESTED, ESPECIALLY IN MATHEMATICS AND LANGUGAE ARTS. FOR THE 2023-2024 SCHOOL YEAR, WE SERVED APPROXIMATELY 1,667 STUDENTS IN KINDERGARTEN THROUGH EIGHTH GRADE.

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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 $8,181,282

Program Service Revenue $35,710,198

Investment Income $339,005

Other Revenue $0

TOTAL REVENUE $44,230,485

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,989,845

Fundraising Expenses $302,221

Program Expenses $35,323,130

Other Expenses $15,176,939

TOTAL EXPENSES $42,166,784

Year-over-Year Comparison

	2023	2022	Change
Revenue	$44,230,485	$41,477,790	+0.1%
Expenses	$42,166,784	$41,156,806	+0.0%
Net Income	$2,063,701	$320,984	+5.4%

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

422

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

$601,268

Total Directors

Key Employees

$241,060

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAKE ELGHANAYAN	CHAIR	3.00	Officer Director	$0	$0	$0
JAMES MAHER	VICE CHAIR	3.00	Officer Director	$0	$0	$0
VEENA MALPANI	SECRETARY	3.00	Officer Director	$0	$0	$0
MARIEL JENKINS TAYLOR	TREASURER	3.00	Officer Director	$0	$0	$0
STEPHEN BALDWIN	TRUSTEE	3.00	Director	$0	$0	$0
KATHRYN MOORE HELENIAK	TRUSTEE	3.00	Director	$0	$0	$0
KEVIN MURPHY	TRUSTEE	3.00	Director	$0	$0	$0
ADRIAN TONGE	TRUSTEE	3.00	Director	$0	$0	$0
ROBERT TORRES	TRUSTEE	3.00	Director	$0	$0	$0
ARNAUD CAMU	TRUSTEE - JOINED DURING YEAR	3.00	Director	$0	$0	$0
WILLIAM F HIGGINS	TRUSTEE - RESIGNED DUIRNG YEAR	3.00	Director	$0	$0	$0
LAWRENCE HIRSCH	TRUSTEE - RESIGNED DUIRNG YEAR	3.00	Director	$0	$0	$0
LESTER LONG	EXECUTIVE DIRECTOR	40.00	Officer	$399,842	$24,603	$424,445
VIVIAN CASSABERRY-FURBY	DIRECTOR OF BUSINESS	40.00	Officer	$167,157	$9,666	$176,823
JACQUELINE DAVIS	DIRECTOR OF CURRICULUM & INSTRUCTION	40.00	Key Emp	$215,366	$25,694	$241,060
REBECCA SCOGNAMIGLIO	SCHOOL DIRECTOR - RESIGNED JULY 2023	40.00	Highest	$205,185	$9,795	$214,980
CHRISTOPHER EMMERSON-PACE	INSTRUCTIONAL COACH	40.00	Highest	$146,623	$16,012	$162,635
LEAH EPSTEIN	DIRECTOR OF SPECIAL SERVICES	40.00	Highest	$143,793	$16,538	$160,331
SAMUEL GRADESS	SCHOOL DIRECTOR	40.00	Highest	$137,826	$14,936	$152,762
AREIEL LAIFER	SCHOOL DIRECTOR	40.00	Highest	$132,041	$14,581	$146,622

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	$44,230,485	$42,166,784	$141,003,587	$2,063,701
2023	$41,477,790	$41,156,806	$139,796,464	$320,984
2022	$36,518,284	$37,572,016	$15,696,370	$-1,053,732
2021	$34,614,781	$32,783,983	$15,984,342	$1,830,798
2020	$26,813,145	$27,573,661	$14,171,904	$-760,516
2019	$26,395,052	$25,130,983	$11,051,526	$1,264,069
2018	$22,127,661	$19,858,829	$9,477,051	$2,268,832