Folsom Prep 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

2019

Legal Domicile

Principal Officer

Gowan Joslin

Phone

9163530185

Tax Period

2023-07-01 to 2024-06-30

Folsom Prep Academy, founded in 2019, is a community nonprofit in the Education sector that reported $2.2M in total revenue in fiscal year 2023. Expenses of $2.1M left a modest 6% surplus.

Mission

Folsom Prep Academy is renowned for providing academic excellence in K-5 grade levels while also developing necessary leadership and life skills in our students. Using an enriched and diverse curriculum, our teachers place personalized attention on every child, instill in them critical skills to excel to their full potential, and develop them to become compassionate, confident, and creative student leaders for the 21st century.

Program Service Accomplishments

Program 1

Expenses: $1,956,581 Revenue: $2,182,007

Folsom Prep Academy is a non-profit private school serving students in Folsom, California and its surrounding areas. The school is open to all students entering grades kindergarten through fifth...

Folsom Prep Academy is a non-profit private school serving students in Folsom, California and its surrounding areas. The school is open to all students entering grades kindergarten through fifth utilizing standards-based curricula. Students attending Folsom Prep Academy receive instruction in math, language arts, science, and social studies as well as supplemental enrichment classes. Folsom Prep Academy believes that building leadership skills and character education are also important parts of a child's education and incorporates them into their comprehensive program. As the premier primary-grade educational institution in its community, Folsom Prep Academy successfully prepares all of its students to become contributing members of society and future leaders of the communities in which they live.

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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 $3,487

Program Service Revenue $2,178,519

Investment Income $9,142

Other Revenue $0

TOTAL REVENUE $2,191,148

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,209,522

Fundraising Expenses $9,931

Program Expenses $1,956,581

Other Expenses $849,910

TOTAL EXPENSES $2,059,432

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,191,148	$2,154,365	+0.0%
Expenses	$2,059,432	$1,962,045	+0.0%
Net Income	$131,716	$192,320	-0.3%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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
Chukwunenye Nnebe	Secretary	2.50	Officer Director	$0	$0	$0
Jason Ramos	Director	2.50	Director	$0	$0	$0
Gowan Joslin	President	2.50	Director	$0	$0	$0
Shahnaz Joslin	Vice President	2.50	Director	$0	$0	$0
Steve Ashford	Treasurer	2.50	Officer	$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	$2,191,148	$2,059,432	$788,081	$131,716
2023	$2,154,365	$1,962,045	$654,351	$192,320
2022	$2,098,970	$1,690,675	$477,095	$408,295