PRAISE ACADEMY (EIN 813602868) - 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

Nano Farabaugh

Phone

3187348210

Tax Period

2024-07-01 to 2025-06-30

PRAISE ACADEMY, founded in 2016, is a small nonprofit in the Education sector that reported $463K in total revenue in fiscal year 2024.

Mission

To provide an elementary school education that fosters each child's natural ability to become a productive, employable and active member of family and community through a Christ-centered foundational approach.

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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 $426,015

Program Service Revenue $11,811

Investment Income $22,664

Other Revenue $2,222

TOTAL REVENUE $462,712

Expense Breakdown

Grants Paid $2,615

Salaries & Benefits $299,118

Fundraising Expenses $57,052

Program Expenses $391,226

Other Expenses $179,933

TOTAL EXPENSES $481,666

Year-over-Year Comparison

	2024	2023	Change
Revenue	$462,712	$434,688	+0.1%
Expenses	$481,666	$563,554	-0.1%
Net Income	$-18,954	$-128,866	-0.9%

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

$42,000

Total Directors

$45,300

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mary Grams	Treasurer, Board Member, Head of School, & Teacher	40	Officer Director	$42,000	$0	$42,000
David Zimmel	Board member and part time teacher	10	Director	$3,300	$0	$3,300
Paul DeCelles	Chairman of the Board	10	Officer Director	$0	$0	$0
Nano Farabaugh	President	40	Officer Director	$0	$0	$0
Debbie Mixell	Secretary	2	Officer Director	$0	$0	$0
Kathy Gleason	Board Member	2	Director	$0	$0	$0
Mary Frances Loughran	Board Member	2	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	$462,712	$481,666	$790,178	$-18,954
2024	No data	No data	No data	No data
2023	$680,186	$472,744	$898,209	$207,442
2022	$667,626	$575,915	$672,552	$91,711
2021	$827,546	$580,245	$584,493	$247,301
2020	$564,921	$512,576	$377,192	$52,345
2019	$618,163	$509,631	$279,168	$108,532
2018	$595,593	$430,360	$174,956	$165,233

PRAISE ACADEMY