Ashe Preparatory Academy

EIN: 820670793 501(c)(3)

Seattle, WA

Total Revenue
$879,835
Total Expenses
$1,051,112
Total Assets
$108,786
Net Assets
$58,519
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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
2017
Legal Domicile
WA
Principal Officer
Debra Sullivan
Phone
2068586431
Tax Period
2019-01-01 to 2019-12-31

Ashe Preparatory Academy, founded in 2017, is a small nonprofit that reported $880K in total revenue in fiscal year 2019. Revenue surged 112% from the prior year, signaling strong growth momentum. Expenses of $1.1M exceeded revenue, resulting in a 19% operating deficit.

Mission

Ashe Preparatory Academy's mission is to cultivate the genius of a diverse population of students and prepare them to excel in high school, college, and career adn to serve as leaders in and for their communities.

Program Service Accomplishments

Program 1
Expenses: $976,629 Revenue: $240,069

Conducting planning operations, and began operating a K-8 charter school in August 2019.

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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%)

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Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $639,547
Program Service Revenue $240,069
Investment Income $219
Other Revenue $0
TOTAL REVENUE $879,835

Expense Breakdown

Grants Paid $0
Salaries & Benefits $500,669
Fundraising Expenses $28,901
Program Expenses $976,629
Other Expenses $550,443
TOTAL EXPENSES $1,051,112

Year-over-Year Comparison

2019 2018 Change
Revenue $879,835 $415,132 +1.1%
Expenses $1,051,112 $185,336 +4.7%
Net Income $-171,277 $229,796 -1.7%
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

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Governance

Voting Members
4
Independent Members
4
Employees
20
Volunteers
4

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
$9,167
Total Directors
5
$9,167
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Casey Castello Board Member 2.00
Director
$0 $0 $0
Edward Jefferson Board Member 2.00
Director
$0 $0 $0
Debra Sullivan Executive Director 20.00
Officer Director
$9,167 $0 $9,167
Marjon Way-Bokanna Board Member 2.00
Director
$0 $0 $0
Khavin Debbs Board Member 2.00
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
2019 $879,835 $1,051,112 $108,786 $-171,277
2018 $415,132 $185,336 $229,796 $229,796
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