THIRD FUTURE SCHOOLS

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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

2016

Legal Domicile

Principal Officer

JESSICA LOPEZ

Phone

7205005252

Tax Period

2024-07-01 to 2025-06-30

THIRD FUTURE SCHOOLS, founded in 2016, is a mid-sized nonprofit in the Education sector that reported $25.1M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $22.3M left a modest 11% surplus.

Mission

THE CHARTER SCHOOL IS A MODEL FOR THE NEXT GENERATION OF SCHOOLS, WORKING TO PREPARE STUDENTS, ESPECIALLY POOR AND MINORITY STUDENTS, FOR THE WORKPLACE AND COLLEGE. A TEAM OF DEDICATED TEACHERS AND LEADERS, WORKING IN A HIGH PERFORMANCE AND (CONTINUED ON SCHEDULE O) CARING CULTURE, MAINTAIN AN INTENSE FOCUS ON ACADEMIC ACHIEVEMENT AND PERFORMANCE OUTCOMES. STUDENTS FIND SUCCESS AND ARE ENGAGED THROUGH PERSONAL LEARNING, WHICH ALLOWS STUDENTS TO WORK AT THEIR OWN PACE AND LEARN IN A WAY MORE SUITED TO THEIR STRENGHTS. THIRD FUTURE SCHOOLS HOLDS HIGH EXPECTATIONS FOR STUDENTS AND STAFF AND BELIEVES THAT EVERYONE CAN CREATE THEIR OWN FUTURE.

Program Service Accomplishments

Program 1

Expenses: $20,437,145 Revenue: $2,233,958

A TEAM OF DEDICATED TEACHERS AND LEADERS, WORKING IN A HIGH PERFORMANCE AND CARING CULTURE, MAINTAIN AN INTENSE FOCUS ON ACADEMIC ACHIEVEMENT AND PERFORMANCE OUTCOMES. STUDENTS FIND SUCCESS AND ARE ENGAGED THROUGH PERSONAL LEARNING, WHICH ALLOWS STUDENTS TO WORK AT THEIR OWN PACE AND LEARN IN A WAY MORE SUITED TO THEIR STRENGTHS. THIRD FUTURE SCHOOLS HOLDS HIGH EXPECTATIONS FOR STUDENTS AND STAFF AND BELEIVES THAT EVERYONE CAN CREATE THEIR OWN FUTURE.

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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 $22,840,943

Program Service Revenue $2,044,799

Investment Income $0

Other Revenue $190,482

TOTAL REVENUE $25,076,224

Expense Breakdown

Grants Paid $603,151

Salaries & Benefits $13,038,808

Fundraising Expenses $0

Program Expenses $20,437,145

Other Expenses $8,687,342

TOTAL EXPENSES $22,329,301

Year-over-Year Comparison

	2024	2023	Change
Revenue	$25,076,224	$28,566,028	-0.1%
Expenses	$22,329,301	$32,919,433	-0.3%
Net Income	$2,746,923	$-4,353,405	-1.6%

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

199

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

$1,211,650

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY LINDIMORE	DIRECTOR	2.00	Director	$0	$0	$0
PATRICK MILLS	BOARD PRESIDENT	2.00	Officer Director	$0	$0	$0
RACHEL NGOLA-TRICE	DIRECTOR	2.00	Director	$0	$0	$0
HELEN MORGAN	DIRECTOR	2.00	Director	$0	$0	$0
PAM ROBINSON	DIRECTOR	2.00	Director	$0	$0	$0
KERRI HOLT	DIRECTOR OF FINANCE	40.00	Officer	$138,973	$37,073	$176,046
MATTHEW MONTOYA	DIRECTOR OF SPECIAL PROGRAMS	40.00	Officer	$152,500	$7,490	$159,990
MARK JAQUEZ	DIRECTOR OF OPERATIONS	40.00	Officer	$131,900	$14,011	$145,911
ZACH CRADDOCK	SUPERINTENDENT	40.00	Officer	$253,757	$89,490	$343,247
JESSICA LOPEZ	CHIEF OF STAFF	40.00	Officer	$214,400	$50,308	$264,708
MICHELE MOORE	DIRECTOR	40.00	Officer	$97,136	$24,612	$121,748
ELIZABETH DOMANGUE	DIRECTOR OF INSTRUCTION	40.00	Highest	$148,410	$14,702	$163,112
WHITNEY NICHOLS	DIRECTOR OF COMMUNICATIONS	40.00	Highest	$134,295	$37,440	$171,735
SHIRLEY MILES	DEPUTY CHIEF OF INSTRUCTION	40.00	Highest	$204,400	$48,210	$252,610

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	$25,076,224	$22,329,301	$21,288,871	$2,746,923
2024	$28,566,028	$32,919,433	$67,246,511	$-4,353,405
2023	$27,449,276	$32,777,249	$40,181,482	$-5,327,973
2022	$23,287,705	$22,831,173	$30,340,517	$456,532
2021	$21,257,666	$20,112,809	$22,810,452	$1,144,857
2020	$15,071,081	$20,616,798	$19,689,319	$-5,545,717
2018	$5,100,113	$10,371,187	$1,077,695	$-5,271,074