FRIENDS OF THE 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

2015

Legal Domicile

Principal Officer

Janice Stewart

Phone

5164082200

Tax Period

2023-01-01 to 2023-06-30

Mission

The purpose of Friends is to create and support education enrichment programs geared to transforming under-served youth into well-rounded individuals who can make a sound contribution to society by raising funds and resources used to enhance the experience of every student in The Academy Charter School and The Academy Charter School 2.

Program Service Accomplishments

Program 1

to create an education enrichment program for The Academy Charter School and The Academy Charter School 2, Friends has entered into a Development Planning Services Agreement (the "Development...

to create an education enrichment program for The Academy Charter School and The Academy Charter School 2, Friends has entered into a Development Planning Services Agreement (the "Development Agreement") in May of 2023. In accordance with the terms of the Development Agreement, Friends will be developing the New School Facility (construction and rehabilitation of a project) and upon completion to sublease the project to The Academy Charter School 2 to be used for the charter school educational purposes.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $0

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $0

TOTAL EXPENSES $0

Year-over-Year Comparison

	2022	2021	Change
Revenue	N/A	N/A	N/A
Expenses	N/A	N/A	N/A
Net Income	N/A	N/A	N/A

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
Janice Stewart	Board Chair	1.00	Officer Director	$0	$0	$0
Joel Watson	Treasurer	1.00	Officer Director	$0	$0	$0
Felicia Barracks	Secretary	1.00	Officer Director	$0	$0	$0
Judith Garrick	Trustee	1.00	Director	$0	$0	$0
Dawn WIlliams	Trustee	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	No data	No data	$4,616,368	No data