FREEDOM ACADEMY INC (EIN 510584248) - 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

2006

Legal Domicile

Principal Officer

CHRISTY NARSI

Phone

6024240771

Tax Period

2024-07-01 to 2025-06-30

FREEDOM ACADEMY INC, founded in 2006, is a community nonprofit in the Education sector that reported $3.0M in total revenue in fiscal year 2024. Revenue fell 20% from the prior year — a significant decline worth monitoring. Expenses of $3.5M exceeded revenue, resulting in a 15% operating deficit.

Mission

TO PROVIDE EACH STUDENT AN EQUAL EDUCATION THAT WILL EQUIP THEM FOR THE FUTURE BY TEACHING CHARACTER WITH INTEGRITY, HONOR AND LEADERSHIP, THE DESIRE TO BECOME LIFELONG LEARNERS, AND BECOME POSITIVE CONTRIBUTORS AND PARTICIPANTS WITHIN THEIR FAMILIES AND THEIR COMMUNITIES.

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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 $220,295

Program Service Revenue $2,753,946

Investment Income $47,148

Other Revenue $2,341

TOTAL REVENUE $3,023,730

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,849,491

Fundraising Expenses $5,544

Program Expenses $2,690,483

Other Expenses $1,640,802

TOTAL EXPENSES $3,490,293

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,023,730	$3,798,050	-0.2%
Expenses	$3,490,293	$3,636,593	0.0%
Net Income	$-466,563	$161,457	-3.9%

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

N/A

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

$131,859

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIE DOWNING	PRINCIPAL	65.00	Officer	$87,834	$2,775	$90,609
KEVEN BARKER	SCHOOL DIREC	85.00	Officer	$41,250	$0	$41,250
CHRISTY NARSI	PRESIDENT	3.00	Officer Director	$0	$0	$0
NOEL ROBERTS	SECRETARY	3.00	Officer Director	$0	$0	$0
ATWOOD STANDLEY	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
MARK VITE	SECRETARY	25.00	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	$3,023,730	$3,490,293	$8,614,111	$-466,563
2024	No data	No data	No data	No data
2023	$3,727,152	$3,771,040	$9,187,313	$-43,888
2022	$3,623,676	$3,462,807	$8,866,915	$160,869
2021	$3,356,515	$3,042,899	$8,748,638	$313,616
2020	$3,129,054	$2,749,736	$8,246,673	$379,318
2019	$3,469,519	$3,073,505	$7,878,911	$396,014
2018	$4,233,865	$3,876,532	$7,569,637	$357,333

FREEDOM ACADEMY INC