GOODWIN UNIVERSITY MAGNET SCHOOLS INC

EIN: 810703802 501(c)(3) Education

EAST HARTFORD, CT

Total Revenue
$26,694,913
Total Expenses
$22,356,240
Total Assets
$10,149,500
Net Assets
$10,108,525
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2015
Legal Domicile
CT
Principal Officer
MARK SCHEINBERG
Phone
8607276906
Tax Period
2024-07-01 to 2025-06-30

GOODWIN UNIVERSITY MAGNET SCHOOLS INC, founded in 2015, is a mid-sized nonprofit in the Education sector that reported $26.7M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $4.3M, a strong 16% operating margin.

Mission

GOODWIN UNIVERSITY MAGNET SCHOOLS, INC. OPERATES AND MANAGES EDUCATIONAL SERVICES TO MAGNET SCHOOLS SERVING PUBLIC SCHOOL STUDENTS IN THE COMMUNITIES SURROUNDING EAST HARTFORD, CT.

Program Service Accomplishments

Program 1
Expenses: $22,345,990 Revenue: $9,041,523

THE GOODWIN UNIVERSITY MAGNET SCHOOLS, LOCATED IN EAST HARTFORD AND SURROUNDING COMMUNITIES, SERVES STUDENTS IN GRADES PRE-K THROUGH 6 AND 9 THROUGH 12. THE SCHOOLS COLLECTIVELY OFFER EXCITING...

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THE GOODWIN UNIVERSITY MAGNET SCHOOLS, LOCATED IN EAST HARTFORD AND SURROUNDING COMMUNITIES, SERVES STUDENTS IN GRADES PRE-K THROUGH 6 AND 9 THROUGH 12. THE SCHOOLS COLLECTIVELY OFFER EXCITING CURRICULUM THAT DEVELOPS COGNITIVE, SOCIAL, LANGUAGE, PHYSICAL AND CREATIVE SKILL SETS TO A DIVERSE STUDENT BODY. THE SCHOOLS OFFER ACCESS TO NATURE AND PREPARE STUDENTS FOR THE PURSUIT OF KNOWLEDGE IN MANY AREAS OF INTEREST, INCLUDING ENVIRONMENTAL AND OTHER SCIENCES WHILE BREAKING DOWN BARRIERS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $17,653,390
Program Service Revenue $9,026,977
Investment Income $0
Other Revenue $14,546
TOTAL REVENUE $26,694,913

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $22,345,990
Other Expenses $22,356,240
TOTAL EXPENSES $22,356,240

Year-over-Year Comparison

2024 2023 Change
Revenue $26,694,913 $23,209,865 +0.2%
Expenses $22,356,240 $21,665,987 +0.0%
Net Income $4,338,673 $1,543,878 +1.8%
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

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Governance

Voting Members
7
Independent Members
4
Employees
N/A
Volunteers
4

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
5
$2,315,351
Total Directors
7
$2,315,351
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARK SCHEINBERG PRESIDENT AND CEO 1.90
Officer Director
$0 $25,063 $977,428
JACKIE JACOBY CHAIR 0.75
Officer Director
$0 $0 $0
MEGAN MEHR VICE CHAIR 0.20
Officer Director
$0 $0 $0
TODD ANDREWS SECRETARY/SENIOR VP 5.00
Officer Director
$0 $8,885 $878,174
EDWIN MEYER JR TREASURER/VP FINANCE/CFO 6.00
Officer Director
$0 $49,078 $459,749
MERILEE DEJOHN TRUSTEE 0.25
Director
$0 $0 $0
LEE HOUSLEY TRUSTEE 0.20
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 $26,694,913 $22,356,240 $10,149,500 $4,338,673
2024 $23,209,865 $21,665,987 $9,328,899 $1,543,878
2023 $20,674,800 $20,489,011 $7,442,202 $185,789
2022 $18,748,011 $17,953,202 $6,281,100 $794,809
2021 $17,501,870 $16,097,193 $5,402,152 $1,404,677
2019 $15,695,914 $15,503,216 $4,482,584 $192,698
2018 $14,245,300 $14,069,659 $4,583,847 $175,641
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