LAKE NORMAN CHARTER SCHOOL (EIN 582360164) - 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

1998

Legal Domicile

Principal Officer

SHANNON STEIN

Phone

7049488600

Tax Period

2022-07-01 to 2023-06-30

LAKE NORMAN CHARTER SCHOOL, founded in 1998, is a mid-sized nonprofit in the Education sector that reported $29.2M in total revenue in fiscal year 2022. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $4.7M, a strong 16% operating margin.

Mission

LAKE NORMAN CHARTER SCHOOL PREPARES STUDENTS TO BE COMMUNITY LEADERS DEMONSTRATING PERSONAL INTEGRITY WITH A LIFE-LONG DESIRE TO LEARN, LEAD AND SERVE.

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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 (2022)

Revenue Breakdown

Contributions & Grants $22,330,168

Program Service Revenue $1,658,959

Investment Income $123,900

Other Revenue $5,106,625

TOTAL REVENUE $29,219,652

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $22,771,124

Other Expenses $24,540,777

TOTAL EXPENSES $24,540,777

Year-over-Year Comparison

	2022	2021	Change
Revenue	$29,219,652	$25,990,344	+0.1%
Expenses	$24,540,777	$24,026,406	+0.0%
Net Income	$4,678,875	$1,963,938	+1.4%

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

321

Volunteers

200

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

Total Directors

$208,652

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LESLIE FOGARTY	BOARD CHAIRPERSON	3.00	Officer Director	$0	$0	$0
NICOLE BENFORD	TREASURER	3.00	Officer Director	$0	$0	$0
GREG KILPATRICK	SECRETARY	3.00	Officer Director	$0	$0	$0
AMY CARR	VICE CHAIR	3.00	Officer Director	$0	$0	$0
RIDGELY CHAPMAN	BOARD MEMBER	3.00	Director	$0	$0	$0
JENNIFER JOHNSON	BOARD MEMBER	3.00	Director	$0	$0	$0
MICHAEL EASTWOOD	BOARD MEMBER	3.00	Director	$0	$0	$0
ELIZABETH TIMKOVICH	BOARD MEMBER	3.00	Director	$0	$0	$0
SHANNON STEIN	MANAGING DIRECTOR	40.00	Director	$167,933	$40,719	$208,652
JARED TILLEY	BOARD MEMBER	3.00	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	No data	No data	No data	No data
2023	$29,219,652	$24,540,777	$69,234,798	$4,678,875
2022	$25,990,344	$24,026,406	$64,667,649	$1,963,938
2021	$25,126,213	$23,471,422	$64,551,351	$1,654,791
2020	$22,291,385	$23,399,420	$65,044,761	$-1,108,035
2019	$20,408,849	$19,240,605	$63,298,910	$1,168,244
2018	$17,199,690	$18,707,213	$57,864,999	$-1,507,523

LAKE NORMAN CHARTER SCHOOL