GREAT OAKS CHARTER SCHOOL - WILMINGTON INC

EIN: 474139743 501(c)(3) Education

WILMINGTON, DE

Total Revenue
$4,437,319
Total Expenses
$4,548,685
Total Assets
$7,164,295
Net Assets
$-10,286,182
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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
DE
Principal Officer
LARETHA ODUMOSU
Phone
3026604790
Tax Period
2023-07-01 to 2024-06-30

GREAT OAKS CHARTER SCHOOL - WILMINGTON INC, founded in 2013, is a community nonprofit in the Education sector that reported $4.4M in total revenue in fiscal year 2023. Revenue fell 26% from the prior year — a significant decline worth monitoring.

Mission

THE MISSION OF THE ORGANIZATION IS TO PREPARE STUDENTS TO SUCCEED IN COLLEGE. THE PURPOSE OF THE SCHOOL IS TO GIVE STUDENTS THE KNOWLEDGE AND VALUES REQUIRED TO GRADUATE FROM ACOMPETITIVE FOUR-YEAR COLLEGE BY DELIVERING INDIVIDUALIZED INSTRUCTION, EMPHASIZING CHARACTER.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,234,342
Program Service Revenue $1,182,107
Investment Income $20,161
Other Revenue $709
TOTAL REVENUE $4,437,319

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,627,541
Fundraising Expenses $0
Program Expenses $4,448,149
Other Expenses $1,921,144
TOTAL EXPENSES $4,548,685

Year-over-Year Comparison

2023 2022 Change
Revenue $4,437,319 $5,996,164 -0.3%
Expenses $4,548,685 $7,221,433 -0.4%
Net Income $-111,366 $-1,225,269 -0.9%
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

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Governance

Voting Members
10
Independent Members
10
Employees
40
Volunteers
12

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
4
$164,969
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANGELA PERRY BOARD CHAIR 1.50
Officer Director
$0 $0 $0
JIM MAZARAKIS CHAIR 1.50
Officer Director
$0 $0 $0
ANTOINETTE CAPRI BOARD MEMBER 1.50
Director
$0 $0 $0
KELLY FIRMENT BOARD MEMBER 1.50
Director
$0 $0 $0
ED EMMETT BOARD MEMBER 1.50
Director
$0 $0 $0
BRETT TAYLOR BOARD MEMBER 1.50
Director
$0 $0 $0
STACEY CLARK BOARD MEMBER 1.50
Director
$0 $0 $0
REBECCA COLLINS BOARD MEMBER 1.50
Director
$0 $0 $0
AMANI YOUNG BOARD MEMBER 1.50
Director
$0 $0 $0
BRITNEY MUMFORD BOARD MEMBER 1.50
Director
$0 $0 $0
TAMARA PRICE PRINCIPAL 40.00
Officer
$124,475 $40,494 $164,969
LARETHA ODUMOSU EXECUTIVE DI 40.00
Officer
$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 $4,437,319 $4,548,685 $7,164,295 $-111,366
2023 $5,996,164 $7,221,433 $7,297,676 $-1,225,269
2022 $6,616,030 $8,689,226 $11,817,518 $-2,073,196
2021 $7,367,811 $8,666,781 $9,667,857 $-1,298,970
2020 $8,854,740 $10,432,305 $7,660,976 $-1,577,565
2019 $8,342,168 $8,973,704 $5,706,007 $-631,536
2018 $7,173,718 $7,443,132 $3,663,700 $-269,414
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