HARMEL ACADEMY OF THE TRADES (EIN 820916401) - 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

2018

Legal Domicile

Principal Officer

DAVID PHELPS

Phone

6164852345

Tax Period

2024-07-01 to 2025-06-30

HARMEL ACADEMY OF THE TRADES, founded in 2018, is a community nonprofit in the Education sector that reported $1.3M in total revenue in fiscal year 2024. Revenue surged 57% from the prior year, signaling strong growth momentum. The organization ran a surplus of $288K, a strong 22% operating margin.

Mission

HARMEL ACADEMY OF THE TRADES IS A POST-SECONDARY INSTITUTION IN MICHIGAN WHERE MEN BECOME EXPERTS IN SKILLED TRADE WHILE GROWING IN THEIR CATHOLIC FAITH.

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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 $808,437

Program Service Revenue $497,355

Investment Income $0

Other Revenue $12,703

TOTAL REVENUE $1,318,495

Expense Breakdown

Grants Paid $13,400

Salaries & Benefits $596,383

Fundraising Expenses $153,334

Program Expenses $625,740

Other Expenses $420,989

TOTAL EXPENSES $1,030,772

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,318,495	$840,854	+0.6%
Expenses	$1,030,772	$898,127	+0.1%
Net Income	$287,723	$-57,273	-6.0%

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

$120,400

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR MICHAEL PAGE	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL PRESTON	BOARD PRESIDENT	1.00	Officer Director	$0	$0	$0
BRIAN BLACK	BOARD SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID FABER	TRUSTEE	1.00	Director	$0	$0	$0
DAVID BELLAMY	TRUSTEE	1.00	Director	$0	$0	$0
STEVE FASE	TRUSTEE	1.00	Director	$0	$0	$0
DAVID MICHAEL PHELPS	PRESIDENT	40.00	Officer	$95,020	$25,380	$120,400

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	$1,318,495	$1,030,772	$905,630	$287,723
2024	$840,854	$898,127	$682,191	$-57,273
2023	$1,479,606	$1,393,665	$711,009	$85,941
2022	$929,945	$806,034	$570,074	$123,911
2021	$610,034	$374,289	$398,569	$235,745

HARMEL ACADEMY OF THE TRADES