Firm Foundation Academy

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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

2013

Legal Domicile

Principal Officer

Gilbert Hakim

Phone

7277890100

Tax Period

2021-01-01 to 2021-12-31

Firm Foundation Academy, founded in 2013, is a small nonprofit that reported $480K in total revenue in fiscal year 2021. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $561K exceeded revenue, resulting in a 17% operating deficit.

Mission

Firm Foundation Academy is a non-profit post-secondary school which utilizes printed materials and proprietary educational software.

Program Service Accomplishments

Program 1

Expenses: $359,345 Revenue: $916

Firm Foundation Academy has one goal for all of its students -- to significantly improve their reading comprehension and critical thinking. We utilize printed copies of books along with proprietary educational software. Our students attend sessions 10 to 60 days in length year round to accomplish these objectives.

Program 2

N/A

Program 3

N/A

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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 (2021)

Revenue Breakdown

Contributions & Grants $479,100

Program Service Revenue $10

Investment Income $0

Other Revenue $906

TOTAL REVENUE $480,016

Expense Breakdown

Grants Paid $100

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $359,345

Other Expenses $561,059

TOTAL EXPENSES $561,159

Year-over-Year Comparison

	2021	2020	Change
Revenue	$480,016	$616,613	-0.2%
Expenses	$561,159	$662,216	-0.2%
Net Income	$-81,143	$-45,603	+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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Gilbert Hakim	Chairman	1.00	Director	$0	$0	$0
Chad Jones	Secretary	1.00	Director	$0	$0	$0
Armin Hakim	Treasurer	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
2021	$480,016	$561,159	$938,812	$-81,143
2020	$616,613	$662,216	$1,019,955	$-45,603
2019	$710,478	$801,149	$1,065,558	$-90,671
2018	$405,291	$565,832	$1,156,229	$-160,541