CRETE ACADEMY

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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

HATTIE MITCHELL

Phone

3237911600

Tax Period

2022-07-01 to 2023-06-30

CRETE ACADEMY, founded in 2016, is a community nonprofit in the Education sector that reported $5.4M in total revenue in fiscal year 2022. Revenue surged 36% from the prior year, signaling strong growth momentum. Expenses of $6.3M exceeded revenue, resulting in a 17% operating deficit.

Mission

DELIVER AN EDUCATIONAL PROGRAM TO STUDENTS IN GRADES TK-6TH WHO ARE IMPACTED BY HOMELESS AND LIVING IN POVERTY. WE FOCUS ON PROVIDING A PROGRAM THAT WILL MEET THEIR PHYSICAL, MENTAL AND EMOTIONAL NEEDS WHILE DEVELOPING STRONG CHARACTER AND CRITICAL THINKING SKILLS.

Program Service Accomplishments

Program 1

Expenses: $5,704,296 Revenue: $54,630

THE CRETE EDUCATIONAL MODEL FOCUSES ON THE IMMEDIATE, BASIC NEEDS OF STUDENTS AND THEIR LONG-TERM EDUCATIONAL NEEDS. CRETE'S EDUCATIONAL MODEL INCLUDES A COLLEGE PREPARATORY CURRICULUM THAT IS...

THE CRETE EDUCATIONAL MODEL FOCUSES ON THE IMMEDIATE, BASIC NEEDS OF STUDENTS AND THEIR LONG-TERM EDUCATIONAL NEEDS. CRETE'S EDUCATIONAL MODEL INCLUDES A COLLEGE PREPARATORY CURRICULUM THAT IS DESIGNED TO PREPARE STUDENTS TO SUCCEED BEYOND THE CLASSROOM. THE CRETE WELLNESS PROGRAM ENSURES ALL STUDENTS RECEIVE THE PROPER NUTRITION, PHYSICAL, MENTAL, AND EMOTIONAL CARE THEY NEED.

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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 (2022)

Revenue Breakdown

Contributions & Grants $5,324,217

Program Service Revenue $54,630

Investment Income $2,339

Other Revenue $0

TOTAL REVENUE $5,381,186

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,150,128

Fundraising Expenses $0

Program Expenses $5,704,296

Other Expenses $3,151,307

TOTAL EXPENSES $6,301,435

Year-over-Year Comparison

	2022	2021	Change
Revenue	$5,381,186	$3,944,110	+0.4%
Expenses	$6,301,435	$3,467,214	+0.8%
Net Income	$-920,249	$476,896	-2.9%

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

$390,982

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSS TILLARD GATES	INTERIM PRESIDENT	2.00	Officer Director	$0	$0	$0
URSULA WORSHAM MS EDD	SECRETARY	2.00	Officer Director	$0	$0	$0
MARINA SAMSON	TREASURER	2.00	Officer Director	$0	$0	$0
LATAYSIA STARKS	MEMBER	2.00	Director	$0	$0	$0
YUSEF ALEXANDER	DIRECTOR	2.00	Director	$0	$0	$0
BRYAN GONZALEZ	MEMBER	2.00	Director	$0	$0	$0
DR REGINALD AUSTIN	MEMBER	2.00	Director	$0	$0	$0
HATTIE MITCHELL	EXECUTIVE DIRECTOR	40.00	Officer	$204,235	$25,962	$230,197
BRETT MITCHELL	CHIEF BUSINESS OFFICER	40.00	Officer	$148,069	$12,716	$160,785

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	No data	No data	No data	No data
2023	$5,381,186	$6,301,435	$2,292,498	$-920,249
2022	$3,944,110	$3,467,214	$1,643,225	$476,896
2021	$2,686,098	$2,116,440	$1,030,924	$569,658
2020	$2,313,919	$2,149,202	$464,216	$164,717
2019	$2,154,646	$2,433,700	$506,150	$-279,054
2018	$1,909,493	$1,626,975	$787,746	$282,518