CHESAPEAKE BAY ACADEMY

EIN: 541522266 501(c)(3) Education

VIRGINIA BEACH, VA

Total Revenue
$4,020,821
Total Expenses
$4,480,692
Total Assets
$4,815,574
Net Assets
$3,786,293
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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
1989
Legal Domicile
VA
Principal Officer
DR JUDY JANKOWSKI
Phone
7574976200
Tax Period
2024-07-01 to 2025-06-30

CHESAPEAKE BAY ACADEMY, founded in 1989, is a community nonprofit in the Education sector that reported $4.0M in total revenue in fiscal year 2024. Revenue surged 48% from the prior year, signaling strong growth momentum. Expenses of $4.5M exceeded revenue, resulting in a 11% operating deficit.

Mission

THE MISSION OF CHESAPEAKE BAY ACADEMY IS TO EDUCATE STUDENTS THROUGH ACADEMIC PROGRAMS INDIVIDUALIZED TO ADDRESS THEIR LEARNING DIFFERENCES, EMPOWERING THEM WITH THE SKILLS AND CONFIDENCE NECESSARY FOR SUCCESS IN HIGHER EDUCATION, CAREERS, AND LIFE.

Program Service Accomplishments

Program 1
Expenses: $3,613,356 Revenue: $3,124,507

EDUCATION FOR CHILDREN WITH LEARNING DIFFERENCES IN CLASSES WHICH ALLOW FOR INDIVIDUALIZED INSTRUCTION BASED ON LESSON PLANS AND TEACHING METHODS TAILORED TO INDIVIDUAL STUDENTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $920,981
Program Service Revenue $3,124,507
Investment Income $56,442
Other Revenue $-81,109
TOTAL REVENUE $4,020,821

Expense Breakdown

Grants Paid $844,580
Salaries & Benefits $2,765,689
Fundraising Expenses $296,317
Program Expenses $3,613,356
Other Expenses $834,423
TOTAL EXPENSES $4,480,692

Year-over-Year Comparison

2024 2023 Change
Revenue $4,020,821 $2,719,944 +0.5%
Expenses $4,480,692 $4,137,833 +0.1%
Net Income $-459,871 $-1,417,889 -0.7%
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
29
Independent Members
28
Employees
60
Volunteers
77

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
5
$231,087
Total Directors
29
$231,087
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AARON J COOPER TRUSTEE 1.00
Director
$0 $0 $0
ALAN B RASHKIND TRUSTEE 1.00
Director
$0 $0 $0
BRIAN WAINGER TRUSTEE 1.00
Director
$0 $0 $0
CAPTAIN LOUIS J SCHAGER VICE CHAIR 2.50
Officer Director
$0 $0 $0
DAVID RATHBONE TRUSTEE 1.00
Director
$0 $0 $0
DONALD L GLENUM III TRUSTEE 1.00
Director
$0 $0 $0
DR BRUCE RUBIN TRUSTEE 1.00
Director
$0 $0 $0
DR CLIFFORD CUTCHINS V TRUSTEE 1.00
Director
$0 $0 $0
DR DAVID LEVIN CHAIR 5.00
Officer Director
$0 $0 $0
DR JD BALL TRUSTEE 5.00
Director
$0 $0 $0
DR PATRICK D THRASHER TRUSTEE 1.00
Director
$0 $0 $0
DR PETER M DOZIER TRUSTEE 1.00
Director
$0 $0 $0
DR SARAH CHAGNON TRUSTEE 1.00
Director
$0 $0 $0
DR WILLIAM P BRITTAIN TRUSTEE 5.00
Director
$0 $0 $0
HOWARD GOODWIN TRUSTEE 1.00
Director
$0 $0 $0
JOHN PARIS TRUSTEE 1.00
Director
$0 $0 $0
JUDY JANKOWSKI HEAD OF SCHOOL 60.00
Officer Director
$213,165 $17,922 $231,087
JULIE HASHAGEN TRUSTEE 1.00
Director
$0 $0 $0
LINDA D BOWERS TRUSTEE 1.00
Director
$0 $0 $0
LINDA MILLER-DUNLEAVY TRUSTEE 1.00
Director
$0 $0 $0
MARK ADAMS TREASURER 2.50
Officer Director
$0 $0 $0
MARY HADDAD TRUSTEE 1.00
Director
$0 $0 $0
MINDY GUMPERT TRUSTEE 1.00
Director
$0 $0 $0
MIRANDA SNOWBERGER TRUSTEE 1.00
Director
$0 $0 $0
BETSY ATKINSON TRUSTEE 1.00
Director
$0 $0 $0
RICHARD B THURMOND TRUSTEE 1.00
Director
$0 $0 $0
THOMAS HASTY III TRUSTEE 1.00
Director
$0 $0 $0
VICKIE HAWKINS-BLACK SECRETARY 5.00
Officer Director
$0 $0 $0
GORDON WAGNER 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 $4,020,821 $4,480,692 $4,815,574 $-459,871
2024 $2,719,944 $4,137,833 $4,617,081 $-1,417,889
2023 $4,383,373 $3,966,656 $7,641,830 $416,717
2022 $5,076,954 $3,881,474 $6,736,952 $1,195,480
2021 $4,950,561 $3,527,676 $6,120,552 $1,422,885
2020 $4,850,174 $4,121,067 $5,370,461 $729,107
2019 $3,981,958 $4,075,379 $4,861,895 $-93,421
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