ELITE ACADEMIC ACADEMY- LUCERNE

EIN: 824453363 501(c)(3) Education

TEMECULA, CA

Total Revenue
$20,905,471
Total Expenses
$20,345,245
Total Assets
$5,703,198
Net Assets
$2,208,526
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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
CA
Principal Officer
MEGHAN FREEMAN
Phone
8663548302
Tax Period
2024-07-01 to 2025-06-30

ELITE ACADEMIC ACADEMY- LUCERNE, founded in 2018, is a mid-sized nonprofit in the Education sector that reported $20.9M in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum.

Mission

OPERATION OF A CHARTER SCHOOL.

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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 (2024)

Revenue Breakdown

Contributions & Grants $20,869,891
Program Service Revenue $0
Investment Income $0
Other Revenue $35,580
TOTAL REVENUE $20,905,471

Expense Breakdown

Grants Paid $0
Salaries & Benefits $11,864,676
Fundraising Expenses $0
Program Expenses $14,452,023
Other Expenses $8,480,569
TOTAL EXPENSES $20,345,245

Year-over-Year Comparison

2024 2023 Change
Revenue $20,905,471 $17,049,936 +0.2%
Expenses $20,345,245 $16,878,028 +0.2%
Net Income $560,226 $171,908 +2.3%
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
2
Independent Members
2
Employees
206
Volunteers
6

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
4
$417,787
Total Directors
3
$11,400
Key Employees
2
$509,047
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SUSAN ANN MCDOUGAL PRESIDENT 0.50
Officer Director
$3,900 $0 $3,900
NICOLE AGUIRRE VICE PRESIDENT 0.50
Officer Director
$3,600 $0 $3,600
RONALD LLOYD JACKSON TREASURER / SECRETARY (END MAY 25) 0.50
Officer Director
$1,500 $0 $3,900
MEGHAN FREEMAN CHIEF EXECUTIVE OFFICER 22.00
Officer
$347,191 $59,196 $406,387
LAURA SPENCER CHIEF ACADEMIC OFFICER 21.00
Key Emp
$214,025 $49,234 $263,259
ASHLEA KIRKLAND CHIEF STUDENT DEVELOPMENT 21.00
Key Emp
$197,982 $47,806 $245,788
JENNIFER LYNN EDICK DIRECTOR OF SPECIAL ED 22.00
Highest
$165,800 $40,614 $206,414
TERESA SCHAFFER DIR OF COM RELATIONS 22.00
Highest
$161,723 $22,397 $184,120
SHANNON NGUYEN SCHOOL PSYCHOLOGIST 22.00
Highest
$153,426 $28,255 $181,681
MONIQUE WAITHE DIRECTOR OF STUDENT DEV 22.00
Highest
$151,002 $37,247 $188,249
KAREN MAKKAI DIRECTOR OF MTSS 22.00
Highest
$149,141 $40,914 $190,055
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 $20,905,471 $20,345,245 $5,703,198 $560,226
2024 No data No data No data No data
2023 $11,450,875 $11,360,503 $3,679,023 $90,372
2022 $8,355,892 $8,322,388 $2,314,344 $33,504
2021 $7,278,874 $6,491,603 $1,947,008 $787,271
2020 $6,267,021 $5,209,325 $1,709,018 $1,057,696
2019 $2,770,664 $2,986,503 $713,083 $-215,839
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