INDEPENDENCE CLASSICAL ACADEMY INC (EIN 812700759) - 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

2020

Legal Domicile

Principal Officer

CLAY BECTON

Phone

7728379300

Tax Period

2024-07-01 to 2025-06-30

INDEPENDENCE CLASSICAL ACADEMY INC, founded in 2020, is a community nonprofit in the Education sector that reported $6.4M in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum.

Mission

INDEPENDENCE CLASSICAL ACADEMY EXISTS TO PROVIDE A DISCIPLINED AND HIGHLY ENGAGING LEARNING ENVIRONMENT RICH IN SCHOLARSHIP, CHARACTER BUILDING, CITIZENSHIP, MORAL VIRTUE, CIVICS, AND LIBERAL ARTS. THIS TIME-TESTED, CLASSICAL LIBERAL ARTS EDUCATION WILL ENSURE STUDENTS ARE HIGHLY PREPARED, THROUGH RIGOROUS AND RELEVANT CORE CONTENT WITH AN EMPHASIS ON LITERACY, TO BE HIGHLY PRODUCTIVE AND SUCCESSFUL CITIZENS WITH A STRONG SENSE OF CHARACTER AND CIVIC RESPONSIBILITY.

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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 $0

Program Service Revenue $6,156,782

Investment Income $0

Other Revenue $254,472

TOTAL REVENUE $6,411,254

Expense Breakdown

Grants Paid $0

Salaries & Benefits $258,423

Fundraising Expenses $0

Program Expenses $5,863,897

Other Expenses $6,729,371

TOTAL EXPENSES $6,987,794

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,411,254	$4,926,179	+0.3%
Expenses	$6,987,794	$4,401,495	+0.6%
Net Income	$-576,540	$524,684	-2.1%

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

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

$253,581

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLAY BECTON	CHAIR	2.00	Officer Director	$0	$0	$0
CARLO FRADE JR	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JASON REVELS	SECRETARY	1.00	Officer Director	$0	$0	$0
MARCIA CULLY	DIRECTOR	1.00	Director	$0	$0	$0
SANDY HOWARD	EXECUTIVE DIRECTOR	70.00	Key Emp	$253,581	$0	$253,581

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	$6,411,254	$6,987,794	$15,316,332	$-576,540
2024	No data	No data	No data	No data
2023	$3,983,027	$3,875,735	$11,074,228	$107,292
2022	$2,618,925	$2,752,527	$11,182,975	$-133,602
2021	$2,488,195	$2,428,742	$346,948	$59,453

INDEPENDENCE CLASSICAL ACADEMY INC