FAITH CHRISTIAN 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

2014

Legal Domicile

Principal Officer

ROBERT M BULLARD JR

Phone

3362270121

Tax Period

2024-07-01 to 2025-06-30

FAITH CHRISTIAN ACADEMY INC, founded in 2014, is a community nonprofit in the Education sector that reported $1.3M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year.

Mission

TO PROVIDE STUDENTS WITH RIGOROUS ACADEMIC INSTRUCTION DESIGNED TO DEVELOP THE SKILLS FOR A LIFETIME OF CONTINUED LEARNING, IN AN ORDERLY ATMOSPHERE STRUCTURED TO SUPPORT THE MORAL, SOCIAL, PHYSICAL, AND SPIRITUAL DEVELOPMENT OCCURRING SUMULTANEOUSLY IN THE CHRISTIAN HOME.

Program Service Accomplishments

Program 1

Expenses: $1,144,729 Revenue: $1,209,369

175 STUDENTS WERE ENROLLED IN FAITH CHRISTIAN ACADEMY DURING THE FISCAL YEAR. OF THOSE 175, 145 WERE IN K-12TH GRADE AND 30 WERE IN PRE- SCHOOL. ON AVERAGE 65% OF STUDENTS SCORED ABOVE GRADE LEVEL ON STANDARDIZED TESTS. GRADUATES OF FAITH CHRISTIAN ACADEMY WERE RECENTLY ACCEPTED AT CAMPBELL UNIVERSITY, LIBERTY UNIVERSITY, WESTERN CAROLINA UNIVERSITY, UNC CHARLOTTE, APPALACHIAN STATE UNIVERSITY, UNC GREENSBORO, LENOIR-RHYNE UNIVERSITY, AND GARDNER-WEBB UNIVERSITY.

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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 $76,881

Program Service Revenue $1,209,369

Investment Income $3

Other Revenue $14,162

TOTAL REVENUE $1,300,415

Expense Breakdown

Grants Paid $0

Salaries & Benefits $838,317

Fundraising Expenses $0

Program Expenses $1,144,729

Other Expenses $560,754

TOTAL EXPENSES $1,399,071

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,300,415	$1,425,991	-0.1%
Expenses	$1,399,071	$1,445,523	0.0%
Net Income	$-98,656	$-19,532	+4.1%

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

Total Directors

$7,650

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALISA CORNETTO	DIRECTOR	15.00	Director	$7,650	$0	$7,650
JOE BOSTIC	VICE PRESIDE	0.50	Officer Director	$0	$0	$0
CARMEN BULLARD	SECRETARY	40.00	Officer Director	$0	$0	$0
SERENA HERNANDEZ	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT M BULLARD JR	PRESIDENT	10.00	Officer 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	$1,300,415	$1,399,071	$157,048	$-98,656
2024	$1,425,991	$1,445,523	$197,479	$-19,532
2023	$1,568,993	$1,566,073	$275,657	$2,920
2022	$1,224,445	$1,310,326	$83,443	$-85,881
2021	$1,178,145	$1,138,649	$182,582	$39,496
2020	$861,323	$828,405	$220,128	$32,918
2019	$731,451	$693,595	$95,591	$37,856
2018	$593,026	$594,761	$53,873	$-1,735