INDEPENDENCE CHARTER SCHOOL WEST (EIN 474364095) - 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

2014

Legal Domicile

Principal Officer

DANA TWYMAN-MASSAQUOI

Phone

2157245600

Tax Period

2023-07-01 to 2024-06-30

INDEPENDENCE CHARTER SCHOOL WEST, founded in 2014, is a mid-sized nonprofit in the Education sector that reported $19.4M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $18.1M left a modest 7% surplus.

Mission

INDEPENDENCE CHARTER SCHOOL WEST (ICS-WEST) IS A COMMUNITY-BASED K-7 PUBLIC CHARTER SCHOOL OF ACADEMIC EXCELLENCE, LOCATED IN SOUTH-WEST PHILADELPHIA AND SERVING A DIVERSE COMMUNITY OF LEARNERS. ICS-WEST PROVIDES AN INTELLECTUALLY-STIMULATING CURRICULUM WITH A GLOBAL FOCUS DESIGNED TO DEVELOP INDEPENDENT, THOUGHTFUL GLOBAL CITIZENS. WE EMPHASIZE SECOND LANGUAGE ACQUISITION AND INTEGRATE ARTS, IDEAS, AND HISTORIES FROM AROUND THE WORLD.

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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 (2023)

Revenue Breakdown

Contributions & Grants $4,528,930

Program Service Revenue $14,530,115

Investment Income $237,216

Other Revenue $151,483

TOTAL REVENUE $19,447,744

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,922,358

Fundraising Expenses $0

Program Expenses $12,978,974

Other Expenses $10,210,292

TOTAL EXPENSES $18,132,650

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,447,744	$16,902,728	+0.2%
Expenses	$18,132,650	$16,211,757	+0.1%
Net Income	$1,315,094	$690,971	+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

Governance

Voting Members

Independent Members

Employees

167

Volunteers

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

$683,498

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANA TWYMAN-MASSAQUOI	PRINCIPAL	40.00	Officer	$129,894	$22,175	$152,069
KERRI MCGINLEY	KERRI MCGINLEY, CEO RESIGNED	40.00	Officer	$180,220	$21,557	$201,777
TREVOR RISK	DIRECTOR OF CULTURE AND CLIMATE	40.00	Officer	$88,841	$19,273	$108,114
ALEXIS VINCENT	UPPER SCHOOL DIRECTOR	40.00	Officer	$86,757	$24,062	$110,819
SHANNON CREAMER	LOWER SCHOOL DIRECTOR	40.00	Officer	$86,661	$24,058	$110,719
GLORIA SHABAZZ	PRESIDENT & TREASURER	1.00	Officer Director	$0	$0	$0
DYANA REID	VICE-PRESIDENT	1.00	Officer Director	$0	$0	$0
JAHLEE HATCHETT	SECRETARY	1.00	Officer Director	$0	$0	$0
CECILEY BRADFORD-JONES	BOARD MEMBER	1.00	Director	$0	$0	$0
VOFFEE JABATEH	BOARD MEMBER	1.00	Director	$0	$0	$0
ANTHONY YODER	BOARD MEMBER (THRU 11/2/23)	1.00	Director	$0	$0	$0
PEDRO RODRIGUEZ	BOARD MEMBER (THRU 5/2/24)	1.00	Director	$0	$0	$0
SHERI WALLACE	BOARD MEMBER (THRU 3/7/24)	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	$19,447,744	$18,132,650	$32,779,856	$1,315,094
2023	$16,902,728	$16,211,757	$31,585,755	$690,971
2022	$15,871,375	$14,707,855	$31,640,153	$1,163,520
2021	$13,016,714	$11,241,833	$6,688,780	$1,774,881
2020	$10,072,192	$9,377,878	$4,291,254	$694,314
2019	$8,397,864	$7,148,208	$3,201,365	$1,249,656
2018	$5,804,117	$5,067,329	$1,895,550	$736,788

INDEPENDENCE CHARTER SCHOOL WEST