TRUE NORTH CLASSICAL ACADEMY INC (EIN 464566968) - 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

2013

Legal Domicile

Principal Officer

LUIS E DIAZ

Phone

3057495725

Tax Period

2024-07-01 to 2025-06-30

TRUE NORTH CLASSICAL ACADEMY INC, founded in 2013, is a mid-sized nonprofit in the Education sector that reported $33.2M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $31.7M left a modest 5% surplus.

Mission

TRUE NORTH PROVIDES EXCEPTIONAL EDUCATION AT OUR SCHOOLS THAT SERVE INFANTS THROUGH HIGH SCHOOL.

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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 $3,600,110

Program Service Revenue $28,880,870

Investment Income $274,781

Other Revenue $454,413

TOTAL REVENUE $33,210,174

Expense Breakdown

Grants Paid $0

Salaries & Benefits $18,578,506

Fundraising Expenses $0

Program Expenses $22,747,314

Other Expenses $13,113,512

TOTAL EXPENSES $31,692,018

Year-over-Year Comparison

	2024	2023	Change
Revenue	$33,210,174	$28,362,316	+0.2%
Expenses	$31,692,018	$28,417,188	+0.1%
Net Income	$1,518,156	$-54,872	-28.7%

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

374

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

$591,771

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LUIS E DIAZ	CHAIR	1.00	Director	$0	$0	$0
RUDY PAGES	TREASURER	1.00	Director	$0	$0	$0
ERNESTO RODRIGUEZ JR	DIRECTOR	1.00	Director	$0	$0	$0
PETE WINDHORST	DIRECTOR	1.00	Director	$0	$0	$0
JOSE FELIX DIAZ	DIRECTOR	1.00	Director	$0	$0	$0
MIKE BILECA	CEO	40.00	Officer	$180,000	$0	$180,000
PAUL POWELL	EXECUTIVE DIRECTOR	40.00	Officer	$252,560	$0	$252,560
LEANDRO GONZALEZ	CFO	40.00	Officer	$159,211	$0	$159,211
ERIN MICHELS	DIRECTOR OF TEACH	40.00	Highest	$168,685	$0	$168,685

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	$33,210,174	$31,692,018	$59,418,947	$1,518,156
2024	$28,362,316	$28,417,188	$58,350,562	$-54,872
2023	$21,732,930	$21,896,066	$52,723,630	$-163,136
2022	$17,879,312	$16,090,440	$47,255,158	$1,788,872
2021	$11,588,372	$9,514,879	$29,956,959	$2,073,493
2020	$7,342,070	$7,141,439	$12,859,258	$200,631
2019	$4,743,016	$4,718,211	$10,517,416	$24,805
2018	$2,764,690	$2,693,040	$550,801	$71,650

TRUE NORTH CLASSICAL ACADEMY INC