Broadwater Academy

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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

1965

Legal Domicile

Phone

7574429041

Tax Period

2024-07-01 to 2025-06-30

Broadwater Academy, founded in 1965, is a community nonprofit in the Education sector that reported $4.2M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year.

Mission

BROADWATER ACADEMY IS AN INDEPENDENT, NON-PROFIT INSTITUTION THAT EXISTS TO PROVIDE AN ACADEMIC-BASED EDUCATIONAL PROGRAM AND TO PROVIDE NON-ACADEMIC PROGRAMS WHICH ENHANCE AND FACILITATE THE DEVELOPMENT OF STUDENTS WHO ARE PREPARED TO SUCCEED IN A COLLEGE PROGRAM AND TO CONTRIBUTE TO A CHANGING SOCIETY UPON GRADUATION. THE ACADEMY ADMITS STUDENTS OF ANY RACE, COLOR, NATIONAL AND ETHNIC ORIGIN WHO ARE ALL ENTITLED TO ALL THE RIGHTS, PRIVILEDGES, PROGRAMS AND ACTIVITES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL.

Program Service Accomplishments

Program 1

Expenses: $2,995,189 Revenue: $3,405,277

EDUCATIONAL INSTRUCTION AND SERVICES PROVIDED TO APPROXIMATELY 277 STUDENTS. SERVICES INCLUDE BUS TRANSPORTATION, ATHLETICS AND OTHER EXTRACURRICULAR ACTIVITES.

Program 2

Expenses: $260,451

TUITION GRANTS AND FINANCIAL AID CREDITS ARE USED TO ASSIST STUDENTS IN ATTENDING THE ACADEMY WHEN THEY WOULD OTHERWISE NOT BE FINANCIALLY ABLE TO DO SO, APPROXIMATELY 156 DIRECTLY EACH YEAR.

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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 $538,363

Program Service Revenue $3,405,277

Investment Income $186,869

Other Revenue $26,906

TOTAL REVENUE $4,157,415

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,921,462

Fundraising Expenses $79,321

Program Expenses $3,255,640

Other Expenses $1,255,740

TOTAL EXPENSES $4,177,202

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,157,415	$4,438,307	-0.1%
Expenses	$4,177,202	$4,447,475	-0.1%
Net Income	$-19,787	$-9,168	+1.2%

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

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

$404,199

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS WILLIS	Chair	4.0	Officer Director	$0	$0	$0
Daniel Hooper	Treasurer	4.0	Officer Director	$0	$0	$0
JON WEHNER	Vice Chair	4.0	Officer Director	$0	$0	$0
Will Russell	Secretary	4.0	Officer Director	$0	$0	$0
Ace Seybolt	Director	1.0	Director	$0	$0	$0
Blake Johnson	DIRECTOR	1.0	Director	$0	$0	$0
Brent Anderson	Director	1.0	Director	$0	$0	$0
Clint Crouse	Director	1.0	Director	$0	$0	$0
Jim Shaeffer	DIRECTOR	1.0	Director	$0	$0	$0
JP Binard	DIRECTOR	1.0	Director	$0	$0	$0
Kristy Hickman	DIRECTOR	1.0	Director	$0	$0	$0
Robert Sabbatini	DIRECTOR	1.0	Director	$0	$0	$0
Sierra Knight Magee	DIRECTOR	1.0	Director	$0	$0	$0
Spencer Shelley	DIRECTOR	1.0	Director	$0	$0	$0
BARBARA PARKER	ASSISTANT HEAD OF SCHOOL	50.0	Officer	$50,117	$2,333	$52,450
FRANCIS RYAN	HEAD OF SCHOOL	50.0	Officer	$165,000	$34,969	$199,969
Kate Terry	Assistant Head of School	50.0	Officer	$41,833	$4,038	$45,871
STEVEN M BELOTE	CFO	50.0	Officer	$100,625	$5,284	$105,909

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	$4,157,415	$4,177,202	$4,270,205	$-19,787
2024	$4,438,307	$4,447,475	$5,094,803	$-9,168
2023	$4,001,369	$4,263,065	$4,710,472	$-261,696
2022	$4,139,571	$3,722,174	$5,203,721	$417,397
2021	$3,545,866	$3,541,557	$5,201,579	$4,309
2020	$2,894,053	$3,154,892	$5,211,524	$-260,839
2019	$3,328,446	$3,500,693	$5,065,272	$-172,247
2018	$3,165,673	$3,407,180	$5,490,774	$-241,507
2017	$3,062,705	$3,583,073	$4,874,471	$-520,368