ADMIRAL FARRAGUT ACADEMY INC (EIN 593038365) - 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

1991

Principal Officer

KEVIN LOCKERBIE

Phone

7273845503

Tax Period

2024-07-01 to 2025-06-30

ADMIRAL FARRAGUT ACADEMY INC, founded in 1991, is a mid-sized nonprofit in the Education sector that reported $20.7M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $18.8M left a modest 9% surplus.

Mission

ADMIRAL FARRAGUT ACADEMY PROVIDES A COLLEGE PREPARATORY ENVIRONMENT THAT PROMOTES ACADEMIC EXCELLENCE, LEADERSHIP SKILLS, AND CHARACTER AND SOCIAL DEVELOPMENT AMONG A DIVERSE COMMUNITY OF 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 $2,675,121

Program Service Revenue $17,894,215

Investment Income $51,682

Other Revenue $117,512

TOTAL REVENUE $20,738,530

Expense Breakdown

Grants Paid $3,534,574

Salaries & Benefits $8,067,526

Fundraising Expenses $397,652

Program Expenses $14,993,866

Other Expenses $7,205,513

TOTAL EXPENSES $18,807,613

Year-over-Year Comparison

	2024	2023	Change
Revenue	$20,738,530	$17,911,947	+0.2%
Expenses	$18,807,613	$16,981,726	+0.1%
Net Income	$1,930,917	$930,221	+1.1%

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

153

Volunteers

N/A

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

$610,441

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ASHLEY PATTERSON-BEATY	CHAIRWOMAN	1.00	Officer Director	$0	$0	$0
MATTHEW SOKOLOWSKI	VICE CHAIRPE	1.00	Officer Director	$0	$0	$0
GEORGE KINEMOND	TREASURER	1.00	Officer Director	$0	$0	$0
E GARRETT GUMMER	SECRETARY	1.00	Officer Director	$0	$0	$0
MATT SOKOLOWSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
WILLIAM LENNOX	BOARD MEMBER	1.00	Director	$0	$0	$0
HOLTON BURNS	BOARD MEMBER	1.00	Director	$0	$0	$0
ALEX DESETA	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE HARRIS	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN LOCKERBIE	PRES & HEAD	40.00	Officer	$271,571	$0	$271,571
BRIAN MILES	COO	40.00	Officer	$219,725	$0	$219,725
HEATHER CARLSON	DIRECTOR OF	40.00	Officer	$0	$0	$0
TIM HARRISON	DIR OF FIN	40.00	Officer	$119,145	$0	$119,145
MARRIE MCLAUGHLIN	DIRECTOR OF	40.00	Highest	$108,350	$0	$108,350
JEFFREY OGDEN	DIR OF ADMIS	40.00	Highest	$124,313	$0	$124,313
MARK PANUTHOS	HEAD OF UPPE	40.00	Highest	$114,216	$0	$114,216
REBECCA R PEMBROOK	HEAD OF LOWE	40.00	Highest	$101,306	$0	$101,306
VICTORIA RAYMER	DIR OF DEVEL	40.00	Highest	$105,623	$0	$105,623

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	$20,738,530	$18,807,613	$21,192,508	$1,930,917
2024	$17,911,947	$16,981,726	$20,026,892	$930,221
2023	$16,910,687	$16,247,514	$18,111,275	$663,173
2022	$16,062,183	$15,518,873	$21,868,805	$543,310
2021	$17,544,935	$16,259,582	$21,289,863	$1,285,353
2020	$17,628,245	$16,948,455	$21,987,210	$679,790
2019	$12,509,764	$13,095,075	$25,003,980	$-585,311
2018	$16,498,962	$15,863,418	$21,094,611	$635,544

ADMIRAL FARRAGUT ACADEMY INC