MIDLAND INNOVATION AND TECHNOLOGY CHARTER SCHOOL INC (EIN 842706547) - 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

2020

Legal Domicile

Principal Officer

MARIA CORRADI

Phone

7245100944

Tax Period

2022-07-01 to 2023-06-30

MIDLAND INNOVATION AND TECHNOLOGY CHARTER SCHOOL INC, founded in 2020, is a community nonprofit in the Education sector that reported $2.5M in total revenue in fiscal year 2022. Revenue surged 159% from the prior year, signaling strong growth momentum. Expenses of $3.8M exceeded revenue, resulting in a 54% operating deficit.

Mission

TO FOSTER QUALITY PUBLIC EDUCATION FOR STUDENTS IN GRADES 912 WHILE LEARNING SKILLED TRADES HIGH TECHNOLOGY AND OTHER FIELDS OF ENDEAVOR

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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 (2022)

Revenue Breakdown

Contributions & Grants $851,922

Program Service Revenue $1,634,331

Investment Income $0

Other Revenue $69

TOTAL REVENUE $2,486,322

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,370,470

Fundraising Expenses $0

Program Expenses $2,597,556

Other Expenses $2,457,545

TOTAL EXPENSES $3,828,015

Year-over-Year Comparison

	2022	2021	Change
Revenue	$2,486,322	$960,700	+1.6%
Expenses	$3,828,015	$970,496	+2.9%
Net Income	$-1,341,693	$-9,796	+136.0%

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

$123,622

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHESTER THOMPSON END 102022	CEO	40.00	Officer	$60,181	$10,717	$70,898
TERRENCE SMITH EFF 102022	CEO	40.00	Officer	$49,808	$2,916	$52,724
JERRY HODGE	PRESIDENT	1.000	Officer Director	$0	$0	$0
MARIA CORRADI	VICE PRESIDENT	2.500	Officer Director	$0	$0	$0
BRITTNEY GOLDEN	SECRETARY	2.500	Officer Director	$0	$0	$0
PAUL PENNINGTON	TREASURER	1.000	Officer Director	$0	$0	$0
MICHAEL CROUD	TRUSTEE	1.000	Director	$0	$0	$0
BRENDA MILITELLO END 092022	TRUSTEE	1.000	Director	$0	$0	$0
LOU NACCARATO	TRUSTEE	1.000	Director	$0	$0	$0
WILL LEAVELL EFF 122022	TRUSTEE	1.000	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	No data	No data	No data	No data
2023	$2,486,322	$3,828,015	$3,128,975	$-1,341,693
2022	$960,700	$970,496	$936,220	$-9,796

MIDLAND INNOVATION AND TECHNOLOGY CHARTER SCHOOL INC