IPS Enterprises Inc (EIN 844633153) - 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

Principal Officer

Jeffrey Cottrill

Phone

9563778000

Tax Period

2024-07-01 to 2025-06-30

IPS Enterprises Inc, founded in 2019, is a major nonprofit in the Education sector that reported $114.7M in total revenue in fiscal year 2024. Expenses of $109.4M left a modest 5% surplus.

Mission

IPS Enterprises provides public charter school management services to IDEA managed organizations.

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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 $21,903,188

Program Service Revenue $92,024,273

Investment Income $773,366

Other Revenue $0

TOTAL REVENUE $114,700,827

Expense Breakdown

Grants Paid $19,466,950

Salaries & Benefits $65,203,419

Fundraising Expenses $12,450

Program Expenses $102,535,262

Other Expenses $24,711,370

TOTAL EXPENSES $109,381,739

Year-over-Year Comparison

	2024	2023	Change
Revenue	$114,700,827	$119,741,440	0.0%
Expenses	$109,381,739	$113,695,321	0.0%
Net Income	$5,319,088	$6,046,119	-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

1464

Volunteers

106

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

$1,096,387

Total Directors

Key Employees

$807,598

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Collin Sewell	Chair	2.50	Officer Director	$0	$0	$0
Ed Rivera	Vice-Chair	2.50	Officer Director	$0	$0	$0
Erich Holmsten	Treasurer	1.00	Officer Director	$0	$0	$0
Anthony Ryan Vaughan	Secretary	2.50	Officer Director	$0	$0	$0
Marcia Aaron	Member	1.00	Director	$0	$0	$0
Theresa Barrera-Shaw	Member	1.00	Director	$0	$0	$0
Dr Nanette Cocero	Member	1.00	Director	$0	$0	$0
Gary Lindgren	Member	1.00	Director	$0	$0	$0
Jeffrey Cottrill	Superintendent & CEO	5.00	Officer	$0	$2,728	$401,654
Kathleen Zimmermann	Chief Financial Officer	5.00	Officer	$0	$43,995	$240,136
Adam Miller	National Executive Director of IPS	40.00	Officer	$81,504	$11,364	$92,868
Layne Fisher	Chief Operating Officer	5.00	Officer	$0	$46,000	$361,729
James Hartman	Executive Dir. - Tampa Bay, FL	0.00	Key Emp	$198,359	$22,192	$220,551
Simaran Bakshi	Executive Dir. - Jacksonville, FL	0.00	Key Emp	$200,986	$20,226	$221,212
Clifford Wallace	Executive Dir. - Louisiana	0.00	Key Emp	$173,180	$10,845	$184,025
Matthew Robinson	Executive Dir. - Greater Cincinnati	0.00	Key Emp	$174,370	$7,440	$181,810
Debra Schoeninger	Sr. Regional Dir. - Special Programs	0.00	Highest	$118,846	$12,258	$131,104
Jamelle Goodwin	Regional VP of Schools - Florida	0.00	Highest	$140,164	$15,852	$156,016
Janine Valentin	Regional Director of Ops - Florida	0.00	Highest	$136,235	$12,943	$149,178
Lauren Shockley	Principal - Greater Cincinnati	0.00	Highest	$139,296	$7,440	$146,736
Katrice Terrance	VP of Organizational Mgmt -Louisiana	0.00	Highest	$132,780	$5,337	$138,117

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	$114,700,827	$109,381,739	$293,460,088	$5,319,088
2024	No data	No data	No data	No data
2023	$107,105,387	$105,570,702	$286,946,593	$1,534,685
2022	$79,131,900	$74,266,439	$202,811,414	$4,865,461
2021	$29,976,816	$29,633,875	$110,511,128	$342,941

IPS Enterprises Inc