Faithful Academy Inc (EIN 842372408) - Form 990 Financial Analysis & Trantor Score

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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

Tax Period

2023-07-01 to 2024-06-30

Faithful Academy Inc, founded in 2019, is a micro nonprofit that reported $73K in total revenue in fiscal year 2023. Revenue fell 75% from the prior year — a significant decline worth monitoring. Expenses of $100K exceeded revenue, resulting in a 37% operating deficit.

Mission

To provide an alternative schooling method for homeschooled studentsSchool closed July 2023

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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 $0

Program Service Revenue $4,388

Investment Income $0

Other Revenue $68,696

TOTAL REVENUE $73,084

Expense Breakdown

Grants Paid $0

Salaries & Benefits $20,120

Fundraising Expenses $0

Other Expenses $80,300

TOTAL EXPENSES $100,420

Year-over-Year Comparison

	2023	2022	Change
Revenue	$73,084	$293,509	-0.8%
Expenses	$100,420	$318,979	-0.7%
Net Income	$-27,336	$-25,470	+0.1%

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
David White	Board of Directors - Vice Pre	0.00	Officer Director	$0	$0	$0
Michelle Miller	Board of Directors - Presiden	8.00	Officer Director	$0	$0	$0
Rebecca Lee	Officer - Secretary	0.00	Officer	$0	$0	$0
Rhonda Sparks	Executive Director	0.00	Key Emp	$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
2024	$73,084	$100,420	No data	$-27,336
2023	$293,509	$318,979	$86,474	$-25,470
2022	$334,385	$350,986	$109,083	$-16,601
2021	$380,935	$287,088	$117,526	$93,847
2020	$214,791	$234,349	$41,375	$-19,558

Faithful Academy Inc