HARPSWELL COASTAL ACADEMY INC

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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

CYNTHIA SHELMERDINE

Phone

2078333229

Tax Period

2023-07-01 to 2024-06-30

HARPSWELL COASTAL ACADEMY INC, founded in 2012, is a micro nonprofit that reported $9K in total revenue in fiscal year 2023. Revenue fell 100% from the prior year — a significant decline worth monitoring. Expenses of $143K exceeded revenue, resulting in a 1435% operating deficit.

Mission

HCA IS A PUBLIC CHARTER SCHOOL OFFERING RIGOROUS, PERSONALIZED, PROJECT- BASED EDUCATION TO MAINE STUDENTS IN GRADES 5-12.

Program Service Accomplishments

Program 1

Expenses: $143,097

NO ACTIVITY IN FY2024 DUE TO SCHOOL BEING CLOSED AT THE END OF FY2023 AND IN LIQUIDATION PROCESS. ONLY PROGRAM EXPENSE IS SENDING REMAINING FUNDS BACK TO THE MAINE DEPARTMENT OF EDUCATION.

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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 $0

Program Service Revenue $0

Investment Income $0

Other Revenue $9,325

TOTAL REVENUE $9,325

Expense Breakdown

Grants Paid $143,097

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $143,097

Other Expenses $0

TOTAL EXPENSES $143,097

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,325	$2,205,596	-1.0%
Expenses	$143,097	$2,704,411	-0.9%
Net Income	$-133,772	$-498,815	-0.7%

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

N/A

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

$150,409

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ASHLEY HYDE	DIR OF BUS,	40.00	Officer	$77,631	$2,869	$80,500
MELANIE CHRISTENSEN FLETCHER	HEAD OF SCHO	40.00	Officer	$66,173	$3,736	$69,909
DAVID JEAN	DIRECTOR	1.00	Director	$0	$0	$0
SALLY MACKENZIE	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
BARBARA MERSON	TREASURER	1.00	Officer Director	$0	$0	$0
KATA RITENBURG	DIRECTOR	1.00	Director	$0	$0	$0
CYNTHIA SHELMERDINE	CHAIR	1.00	Officer Director	$0	$0	$0
KATHY WILSON	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
2024	$9,325	$143,097	No data	$-133,772
2023	$2,205,596	$2,704,411	$529,163	$-498,815
2022	$2,907,079	$3,323,811	$1,086,034	$-416,732
2021	$3,434,927	$2,959,362	$1,328,759	$475,565
2020	$2,472,645	$2,401,338	$1,198,961	$71,307
2019	$2,688,873	$2,603,847	$829,693	$85,026
2018	$2,505,437	$2,544,990	$804,137	$-39,553