FRIENDS OF CHATTANOOGA PREP INC (EIN 813512599) - 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

2016

Legal Domicile

Principal Officer

TED ALLING

Phone

4236645722

Tax Period

2023-07-01 to 2024-06-30

FRIENDS OF CHATTANOOGA PREP INC, founded in 2016, is a small nonprofit in the Education sector that reported $943K in total revenue in fiscal year 2023. Revenue fell 81% from the prior year — a significant decline worth monitoring. Expenses of $1.2M exceeded revenue, resulting in a 28% operating deficit.

Mission

THE ORGANIZATION IS DEVOTED TO SUPPORTING SINGLE SEX EDUCATIONAL POLICIES, PRACTICES AND STRUCTURES THAT LEAD TO INCREASED ACADEMIC SUCCESS AMONG BOYS AND YOUNG MEN. SPECIFICALLY, THE ORGANIZATION WILL ACT AS THE SPONSOR OF A PUBLIC CHARTER SCHOOL (PREP PUBLIC SCHOOLS) CREATED PURSUANT TO THE TENNESSEE PUBLIC CHARTER SCHOOL ACT OF 2002.

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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 (2023)

Revenue Breakdown

Contributions & Grants $943,118

Program Service Revenue $0

Investment Income $2

Other Revenue $0

TOTAL REVENUE $943,120

Expense Breakdown

Grants Paid $297,904

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,208,783

Other Expenses $910,879

TOTAL EXPENSES $1,208,783

Year-over-Year Comparison

	2023	2022	Change
Revenue	$943,120	$4,899,967	-0.8%
Expenses	$1,208,783	$744,673	+0.6%
Net Income	$-265,663	$4,155,294	-1.1%

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TED ALLING	CHAIR	5.00	Officer Director	$0	$0	$0
SUE ANNE WELLS	DIRECTOR	1.00	Director	$0	$0	$0
JACK STUDOR	DIRECTOR	1.00	Director	$0	$0	$0
KELLY ALLING	DIRECTOR	1.00	Director	$0	$0	$0
DAVID CAINES	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	No data	No data	No data	No data
2024	$943,120	$1,208,783	$19,704,343	$-265,663
2023	$4,899,967	$744,673	$17,507,883	$4,155,294
2022	$1,097,526	$552,357	$13,976,091	$545,169
2021	$1,171,692	$367,879	$12,258,434	$803,813
2020	$121,270	$274,551	$8,246,575	$-153,281
2019	$141,569	$282,816	$8,405,726	$-141,247
2018	$4,098,513	$456,659	$6,649,142	$3,641,854

FRIENDS OF CHATTANOOGA PREP INC