Friends of Chesterton Academy of D… - Form 990 Financial Data

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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 M Miller

Phone

5867416041

Tax Period

2024-07-01 to 2025-06-30

Friends of Chesterton Academy of Detroit, founded in 2018, is a small nonprofit in the Education sector that reported $604K in total revenue in fiscal year 2024. The organization ran a surplus of $97K, a strong 16% operating margin.

Mission

Chesterton Academy is an independent school guided by the truths of the Catholic Faith, loyal to its teaching magisterium, seeking to provide an affordable classical curriculum utilizing the Socratic method.

Program Service Accomplishments

Program 1

Expenses: $437,662 Revenue: $285,445

Classical Catholic High School education for grades 9-12

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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 $302,500

Program Service Revenue $285,445

Investment Income $0

Other Revenue $16,194

TOTAL REVENUE $604,139

Expense Breakdown

Grants Paid $0

Salaries & Benefits $313,487

Fundraising Expenses $34,512

Program Expenses $437,662

Other Expenses $193,408

TOTAL EXPENSES $506,895

Year-over-Year Comparison

	2024	2023	Change
Revenue	$604,139	$574,326	+0.1%
Expenses	$506,895	$446,635	+0.1%
Net Income	$97,244	$127,691	-0.2%

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

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
ERIC BACKMAN	President	2.00	Officer Director	$0	$0	$0
RUSSELL HILL	Vice President	0.00	Officer Director	$0	$0	$0
MARK THIBAULT	Treasurer	1.00	Officer Director	$0	$0	$0
DAVID MILLER	Secretary	1.00	Officer Director	$0	$0	$0
HARRY VERYSER	Director	1.00	Director	$0	$0	$0
FR KEVIN ROELANT	Chaplain	1.00	Director	$0	$0	$0
JEFFREY PARLOW	Director	1.00	Director	$0	$0	$0
NEAL COLE	Director	1.00	Director	$0	$0	$0
LEA ROSS-WOJCIECHOWSKI	Director	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	$604,139	$506,895	$127,907	$97,244
2024	$574,326	$446,635	$137,205	$127,691
2024	$574,326	$446,635	$137,205	$127,691
2023	$380,677	$440,588	$21,978	$-59,911
2022	$416,368	$449,026	$66,916	$-32,658
2021	$297,914	$268,185	$99,489	$29,729

Friends of Chesterton Academy of Detroit