Workforce Advantage Academy Inc (EIN 800058758) - 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

2003

Legal Domicile

Principal Officer

Kenneth E Hartsaw JR

Phone

4078987228

Tax Period

2024-07-01 to 2025-06-30

Workforce Advantage Academy Inc, founded in 2003, is a community nonprofit in the Education sector that reported $2.7M in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year.

Mission

TO IDENTIFY STUDENTS (AT LEAST 16 YEARS OF AGE) DESIRING A LEARNING ENVIRONMENT WITH AN EMPHASIS ON JOB PLACEMENT, COLLEGE OR MILITARY SERVICE UPON COMPLETION.

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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 $2,667,757

Program Service Revenue $0

Investment Income $35,574

Other Revenue $0

TOTAL REVENUE $2,703,331

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,846,237

Fundraising Expenses $0

Program Expenses $2,490,430

Other Expenses $1,122,123

TOTAL EXPENSES $2,968,360

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,703,331	$3,310,850	-0.2%
Expenses	$2,968,360	$2,645,232	+0.1%
Net Income	$-265,029	$665,618	-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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Elizabeth Hughes	Director	1.00	Director	$0	$0	$0
Ed Thomas Jr	Chairman	1.00	Director	$0	$0	$0
Stanley Dickinson	Director	1.00	Director	$0	$0	$0
Yanitza Torres-Arce	Director	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	$2,703,331	$2,968,360	$1,711,599	$-265,029
2024	$3,310,850	$2,645,232	$2,066,711	$665,618
2023	$2,508,545	$2,424,779	$947,868	$83,766
2022	$2,333,950	$2,258,494	$1,031,801	$75,456
2021	$2,070,510	$2,064,390	$989,786	$6,120
2020	$2,048,147	$1,989,296	$808,145	$58,851
2019	$2,045,321	$2,122,573	$707,717	$-77,252

Workforce Advantage Academy Inc