OKALOOSA ACADEMY INC (EIN 593401752) - 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

1996

Legal Domicile

Principal Officer

DR GREGORY SEATON

Phone

8503146571

Tax Period

2024-07-01 to 2025-06-30

OKALOOSA ACADEMY INC, founded in 1996, is a community nonprofit in the Education sector that reported $1.6M in total revenue in fiscal year 2024. Revenue fell 49% from the prior year — a significant decline worth monitoring. Expenses of $2.2M exceeded revenue, resulting in a 35% operating deficit.

Mission

TO PROVIDE EDUCATIONAL SERVICES TO STUDENTS IN GRADES 6-12.

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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 $1,336,500

Program Service Revenue $7,968

Investment Income $386

Other Revenue $276,611

TOTAL REVENUE $1,621,465

Expense Breakdown

Grants Paid $0

Salaries & Benefits $899,104

Fundraising Expenses $0

Program Expenses $1,008,861

Other Expenses $1,296,160

TOTAL EXPENSES $2,195,264

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,621,465	$3,203,159	-0.5%
Expenses	$2,195,264	$3,451,874	-0.4%
Net Income	$-573,799	$-248,715	+1.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR GREGORY SEATON	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
ANGELO PEARSON	VICE CHAIRPE	1.00	Officer Director	$0	$0	$0
ANN BLACK	SECRETARY	1.00	Director	$0	$0	$0
JIMMY JAMES	TREASURER	1.00	Director	$0	$0	$0
VICKIE SYKES	BOARD MEMBER	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	$1,621,465	$2,195,264	$1,441,595	$-573,799
2024	$3,203,159	$3,451,874	$2,237,458	$-248,715
2023	$3,394,271	$3,286,838	$2,277,765	$107,433
2022	$3,514,993	$3,448,137	$2,155,468	$66,856
2021	$3,969,642	$3,336,287	$2,314,707	$633,355
2020	$2,966,815	$3,105,212	$1,899,326	$-138,397
2019	$3,584,172	$3,798,561	$1,611,539	$-214,389
2018	$3,639,132	$3,928,334	$1,827,839	$-289,202

OKALOOSA ACADEMY INC