NORTHERN ACADEMY OF THE ARTS

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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

Phone

8457790808

Tax Period

2023-07-01 to 2024-06-30

NORTHERN ACADEMY OF THE ARTS, founded in 2017, is a community nonprofit in the Education sector that reported $7.1M in total revenue in fiscal year 2023. Revenue surged 53% from the prior year, signaling strong growth momentum.

Mission

Northern Academy of the Arts is a New York not-for-profit organization with the mission to nurture students from grades 1 to 12 to become well-educated individuals of exemplary moral character. To this end, Northern Academy of the Arts provides a rigorous college preparatory and classical arts education steeped in Western and Eastern traditions. Revenue is derived principally from tuition fees and other program income, as well as contributions made by individuals and others.

Program Service Accomplishments

Program 1

Expenses: $6,243,107

Northern Academy of the Arts offers secondary education for grades 1-12 students, nurturing in them academic and artistic excellence, and strength of character. Northern Academy provides students...

Northern Academy of the Arts offers secondary education for grades 1-12 students, nurturing in them academic and artistic excellence, and strength of character. Northern Academy provides students with the skills, discipline, and confidence they need to be successful in life. Northern Academys rigorous education imbues a philosophy of lifelong learning. While every student fulfills a complete college preparatory curriculum, the Academys Dance, Music and Fine Arts departments provide a unique emphasis on the classical arts of both Western and Eastern civilizations. In addition to the regular academic year, Northern Academy also offers summer camps during the summer break. The camp includes award-winning STEM, arts, adventures and language core programs, regular field trips, and a grand finale with performances and party for all campers, families, and friends.All of Northern Academys education programs are grounded in classical perspective and crowned by an emphasis on real-world application. Our low teacher to student ratio allows for individualized education that is flexible and responsive and has resulted in students achieving above average SAT scores. The Academy offers a wide range of elective courses for high school students including Advanced Placement (AP) courses. In addition to the academic and artistic education students receive, Northern Academys approach to character development aims to guide students to become healthy, upright people who know right from wrong, and who want to make good choices based on strong reasoning founded in respect for their own lives and the lives of others.

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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 $314,680

Program Service Revenue $6,601,394

Investment Income $134,930

Other Revenue $1,076

TOTAL REVENUE $7,052,080

Expense Breakdown

Grants Paid $2,342,175

Salaries & Benefits $2,532,866

Fundraising Expenses $0

Program Expenses $6,243,107

Other Expenses $2,261,182

TOTAL EXPENSES $7,136,223

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,052,080	$4,619,139	+0.5%
Expenses	$7,136,223	$4,261,231	+0.7%
Net Income	$-84,143	$357,908	-1.2%

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

110

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH ZHAO	Chairman	2.00	Officer Director	$0	$0	$0
HUAPING GUO	Trustee	1.00	Director	$0	$0	$0
YUNG-CHIA CHEN	Secretary	2.00	Officer Director	$0	$0	$0
GAIL RACHLIN	Trustee	1.00	Director	$0	$0	$0
PAI-MARIA NORRIS	Trustee	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	$7,052,080	$7,136,223	$7,416,341	$-84,143
2023	$4,619,139	$4,261,231	$5,101,453	$357,908
2022	$4,325,400	$3,187,854	$4,869,273	$1,137,546
2021	$2,506,408	$1,870,002	$4,019,420	$636,406
2020	$2,492,627	$1,298,209	$2,750,331	$1,194,418
2019	$1,981,419	$1,321,365	$1,790,871	$660,054
2018	$1,223,218	$580,755	$786,452	$642,463