THE KING'S ACADEMY INC

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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

1970

Legal Domicile

Principal Officer

RANDAL MARTIN

Phone

5616864244

Tax Period

2024-07-01 to 2025-06-30

THE KING'S ACADEMY INC, founded in 1970, is a mid-sized nonprofit in the Education sector that reported $56.2M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $52.9M left a modest 6% surplus.

Mission

THE KING'S ACADEMY EXISTS TO ASSIST THE HOME AND CHURCH IN THEIR ENDEAVOR TO "TRAIN UP A CHILD IN THE WAY HE SHOULD GO" (PROVERBS 22:6). ITS MISSION IS TO SHARE SALVATION THROUGH JESUS CHRIST AND TO GRADUATE CHRISTIAN LEADERS WHO SEEK TO IMPACT THEIR WORLD FOR THE KING OF KINGS THROUGH ACADEMIC EXCELLENCE AND SPIRITUAL VITALITY.

Program Service Accomplishments

Program 1

Expenses: $47,277,003 Revenue: $51,816,027

COMPREHENSIVE IN-PERSON AND ONLINE OR FULL-TIME AND PART-TIME EDUCATION PROGRAM - PRESCHOOL THROUGH GRADE TWELVE, SERVING APPROXIMATELY 1,955 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,544,925

Program Service Revenue $51,371,068

Investment Income $1,789,829

Other Revenue $444,959

TOTAL REVENUE $56,150,781

Expense Breakdown

Grants Paid $11,325,475

Salaries & Benefits $20,388,845

Fundraising Expenses $671,688

Program Expenses $47,277,003

Other Expenses $21,148,548

TOTAL EXPENSES $52,862,868

Year-over-Year Comparison

	2024	2023	Change
Revenue	$56,150,781	$49,958,022	+0.1%
Expenses	$52,862,868	$46,448,792	+0.1%
Net Income	$3,287,913	$3,509,230	-0.1%

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

495

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

$807,226

Total Directors

$393,194

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE RASMUSSEN	CHAIR	1.00	Officer Director	$0	$0	$0
ERIC ENGSTROM	VICE CHAIR/TREASURER	1.00	Officer Director	$0	$0	$0
MEG PERCY	SECRETARY	1.00	Officer Director	$0	$0	$0
JERRY Y BELL	DIRECTOR	1.00	Director	$0	$0	$0
SHAY CAVANAGH	DIRECTOR	1.00	Director	$0	$0	$0
RANDAL MARTIN	PRESIDENT	60.00	Officer Director	$380,016	$13,178	$393,194
DOUGLAS RAINES	V.P & HEADMASTER	60.00	Officer	$267,463	$15,311	$282,774
PETER N WELLMAN	CHIEF FINANCIAL OFFICER	40.00	Officer	$131,258	$0	$131,258
ADAM MILLER	ELEMENTARY PRINCIPAL	40.00	Highest	$114,326	$8,136	$122,462
JENNIFER CEPPO	DIR. OF PROGRAM INNOVATION	40.00	Highest	$132,857	$4,659	$137,516
ADAM WINTERS	ATHLETIC DIRECTOR	40.00	Highest	$110,396	$7,125	$117,521
ROSARIO LARSON	DEVELOPMENT DIRECTOR	40.00	Highest	$147,095	$10,231	$157,326
DEBORAH J RANTIN	HIGH SCHOOL PRINCIPAL	40.00	Highest	$134,781	$8,086	$142,867
JOHN RAINES	MIDDLE SCHOOL PRINCIPAL	40.00	Highest	$110,398	$6,961	$117,359

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	$56,150,781	$52,862,868	$87,281,245	$3,287,913
2024	$49,958,022	$46,448,792	$84,980,866	$3,509,230
2023	$45,768,962	$41,895,086	$77,752,133	$3,873,876
2022	$41,105,705	$34,819,894	$71,507,499	$6,285,811
2021	$35,644,934	$30,629,126	$66,804,036	$5,015,808
2020	$36,610,335	$31,792,878	$59,685,738	$4,817,457
2019	$31,338,074	$27,876,599	$55,117,846	$3,461,475
2018	$28,307,282	$27,037,037	$51,856,457	$1,270,245