Elevate 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

2017

Legal Domicile

Principal Officer

Erik Bullock

Phone

2087794086

Tax Period

2023-07-01 to 2024-06-30

Elevate Academy, founded in 2017, is a mid-sized nonprofit in the Education sector that reported $11.8M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $10.7M left a modest 10% surplus.

Mission

Public Education.

Program Service Accomplishments

Program 1

Expenses: $9,886,745

The school is an independent state-funded public charter school governed under Title 33, Chapter 52 of Idaho Code. It provides innovative educational curricula within the public school system but...

The school is an independent state-funded public charter school governed under Title 33, Chapter 52 of Idaho Code. It provides innovative educational curricula within the public school system but independent from the traditional structure. Virtually all revenues and expenses relate to this single program service.

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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 $11,662,654

Program Service Revenue $0

Investment Income $155,062

Other Revenue $0

TOTAL REVENUE $11,817,716

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,100,067

Fundraising Expenses $0

Program Expenses $9,886,745

Other Expenses $3,591,211

TOTAL EXPENSES $10,691,278

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,817,716	$9,276,655	+0.3%
Expenses	$10,691,278	$9,902,088	+0.1%
Net Income	$1,126,438	$-625,433	-2.8%

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

101

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

$444,894

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Monica White	Co-Founder	40.00	Officer	$108,760	$13,802	$122,562
Curtis Watson	Co-Admin	40.00	Officer	$96,840	$12,289	$109,129
Matthew Strong	Co-Admin	40.00	Officer	$95,412	$12,108	$107,520
Jessica Figueroa	Co-Admin	40.00	Officer	$93,782	$11,901	$105,683
Erik Bullock	Chair	1.00	Officer Director	$0	$0	$0
Kellie Foreman	Member	1.00	Director	$0	$0	$0
Amy Rojas	Member	1.00	Director	$0	$0	$0
Brooke Stevenson	Member	1.00	Director	$0	$0	$0
Becki Woodbury	Member	1.00	Director	$0	$0	$0
Gilbert Longoria	Member	1.00	Director	$0	$0	$0
Aldolfo Valdez	Member	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	$11,817,716	$10,691,278	$18,253,759	$1,126,438
2023	$9,276,655	$9,902,088	$18,092,126	$-625,433
2022	$8,221,535	$7,350,662	$6,091,553	$870,873
2021	$6,320,559	$6,278,594	$3,113,576	$41,965
2020	$5,663,239	$4,393,373	$1,958,370	$1,269,866