WHEATON ACADEMY 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

EUGENE FROST

Phone

6305627500

Tax Period

2024-08-01 to 2025-07-31

WHEATON ACADEMY FOUNDATION, founded in 2012, is a small nonprofit in the Education sector that reported $532K in total revenue in fiscal year 2024. The organization ran a surplus of $412K, a strong 77% operating margin.

Mission

TO HOLD AND MANAGE ENDOWMENT INVESTMENTS TO PROVIDE ONGOING SUPPORT TO WHEATON ACADEMY'S MISSION AND PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $44,020

BENEFIT AND ADVANCE THE PURPOSES AND FUNCTIONS OF WHEATON ACADEMY THROUGH GRANTS FUNDING OPERATING EXPENSES, INCLUDING BUT NOT LIMITED TO THE FINANCIAL AID PROGRAM FOR WHEATON ACADEMY STUDENTS...

BENEFIT AND ADVANCE THE PURPOSES AND FUNCTIONS OF WHEATON ACADEMY THROUGH GRANTS FUNDING OPERATING EXPENSES, INCLUDING BUT NOT LIMITED TO THE FINANCIAL AID PROGRAM FOR WHEATON ACADEMY STUDENTS DEMONSTRATING FINANCIALS NEED.

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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 $94,950

Program Service Revenue $0

Investment Income $436,965

Other Revenue $0

TOTAL REVENUE $531,915

Expense Breakdown

Grants Paid $44,020

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $44,020

Other Expenses $76,208

TOTAL EXPENSES $120,228

Year-over-Year Comparison

	2024	2023	Change
Revenue	$531,915	$554,939	0.0%
Expenses	$120,228	$221,607	-0.5%
Net Income	$411,687	$333,332	+0.2%

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

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

$360,150

Total Directors

$653,147

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN BULT	DIRECTOR	1.00	Director	$0	$41,267	$292,997
STEVE KARLSON	COO/CFO	1.00	Officer Director	$0	$74,878	$261,320
EUGENE FROST	EXECUTIVE DIRECTOR WAF	20.00	Officer Director	$0	$27,235	$98,830
RANDY SEAGER	CHAIR	1.00	Officer Director	$0	$0	$0
CHRIS GRANT	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
SOFIA HALCOMB	SECRETARY	1.00	Officer Director	$0	$0	$0
CHIP KRUEGER	TREASURER	1.00	Officer Director	$0	$0	$0
RANDY RENN	DIRECTOR	2.00	Director	$0	$0	$0
DAWN WITT	DIRECTOR	1.00	Director	$0	$0	$0
MATT KAUFMAN	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT SHELTON	DIRECTOR	1.00	Director	$0	$0	$0
BAXTER WENNLUND	DIRECTOR	1.00	Director	$0	$0	$0
JUSTIN PEACOCK	DIRECTOR	1.00	Director	$0	$0	$0
PETER CROWE	DIRECTOR	1.00	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	$531,915	$120,228	$4,839,145	$411,687
2024	$554,939	$221,607	$4,464,551	$333,332
2023	$798,167	$207,131	$4,065,204	$591,036
2022	$-339,689	$179,821	$3,474,168	$-519,510
2021	$336,362	$115,362	$4,070,420	$221,000
2020	$179,011	$94,278	$3,243,479	$84,733
2019	$116,114	$88,340	$2,925,756	$27,774
2018	$101,305	$89,788	$2,400,427	$11,517