SANTA FE PREPARATORY SCHOOL

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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

1961

Legal Domicile

Principal Officer

AARON SCHUBACH

Phone

5059821829

Tax Period

2022-07-01 to 2023-06-30

SANTA FE PREPARATORY SCHOOL, founded in 1961, is a mid-sized nonprofit in the Education sector that reported $15.2M in total revenue in fiscal year 2022. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $19.7M exceeded revenue, resulting in a 30% operating deficit.

Mission

SANTA FE PREPARATORY SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL COLLEGE PREPARATORY DAY SCHOOL, GRADES 7 THROUGH 12, DEDICATED TO EDUCATIONAL EXCELLENCE.

Program Service Accomplishments

Program 1

Expenses: $8,830,831 Revenue: $9,146,551

THE SCHOOL PROVIDES A COLLEGE PREPARATORY EDUCATION TO APPROXIMATELY 330 STUDENTS IN GRADES 7 THROUGH 12. THE SCHOOL ALSO HOSTS THE EE FORD SUMMER TEACHERS COLLOQUIUM SERVING APPROXIMATELY 40...

THE SCHOOL PROVIDES A COLLEGE PREPARATORY EDUCATION TO APPROXIMATELY 330 STUDENTS IN GRADES 7 THROUGH 12. THE SCHOOL ALSO HOSTS THE EE FORD SUMMER TEACHERS COLLOQUIUM SERVING APPROXIMATELY 40 TEACHERS.

Program 2

Expenses: $7,188,368

DAVIS NEW MEXICO SCHOLARS AND BREAKTHROUGH SANTA FE (BREAKTHROUGH): BREAKTHROUGH IS A PREP PROGRAM THAT ASSISTS STUDENTS IN GRADES 7 THROUGH 12 FROM UNDERSERVED PUBLIC SCHOOLS TO BECOME THE FIRST IN THEIR FAMILIES TO GO TO COLLEGE. STUDENTS COMMIT TO THE PROGRAM FOR 6 YEARS AND PARTICIPATE IN SUMMER PROGRAMING, SCHOOL YEAR SUPPORT, AND ONE-ON-ONE COLLEGE COUNSELING. BREAKTHROUGH SANTA FE ALSO PARTNERS WITH THE SHELBY CULLOM DAVIS CHARITABLE FUND, INC. TO ADMINISTER AND AWARD FULL-TUITION COLLEGE SCHOLARSHIPS TO STUDENTS PARTICIPATING IN THE DAVIS NEW MEXICO SCHOLARS PROGRAM (DAVIS NEW MEXICO). AS OF JUNE 30, 2023, APPROXIMATELY 137 DAVIS NEW MEXICO SCHOLARSHIP RECIPIENTS ARE ENROLLED IN COLLEGE.

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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 $4,827,199

Program Service Revenue $9,253,899

Investment Income $939,691

Other Revenue $180,041

TOTAL REVENUE $15,200,830

Expense Breakdown

Grants Paid $8,339,436

Salaries & Benefits $7,364,350

Fundraising Expenses $1,114,089

Program Expenses $16,019,199

Other Expenses $3,912,588

TOTAL EXPENSES $19,713,283

Year-over-Year Comparison

	2022	2021	Change
Revenue	$15,200,830	$20,700,006	-0.3%
Expenses	$19,713,283	$21,248,117	-0.1%
Net Income	$-4,512,453	$-548,111	+7.2%

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

184

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

$323,021

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELICIA MONTOYA	CHAIR	3.00	Officer Director	$0	$0	$0
JENNY KAUFMAN	VICE CHAIR	3.00	Officer Director	$0	$0	$0
DAVID KOCON	TREASURER	3.00	Officer Director	$0	$0	$0
LEAH SWANSON	SECRETARY	3.00	Officer Director	$0	$0	$0
SARA APRIL	TRUSTEE	3.00	Director	$0	$0	$0
STEPHEN BADGER	TRUSTEE	3.00	Director	$0	$0	$0
LIZ BREMNER	TRUSTEE	3.00	Director	$0	$0	$0
ALEJANDRA CASTILLO	TRUSTEE	3.00	Director	$0	$0	$0
JOSIAH CHILD	TRUSTEE	3.00	Director	$0	$0	$0
RANDY DRY	TRUSTEE	3.00	Director	$0	$0	$0
EDWARD GALE	TRUSTEE	3.00	Director	$0	$0	$0
DOMINIC GARCIA	TRUSTEE	3.00	Director	$0	$0	$0
ESTEVAN GONZALES	TRUSTEE	3.00	Director	$0	$0	$0
MIQUELA SALAZAR KORTE	TRUSTEE	3.00	Director	$0	$0	$0
CHRISTINE LEHMAN	TRUSTEE	3.00	Director	$0	$0	$0
THAO MARQUEZ	TRUSTEE	3.00	Director	$0	$0	$0
SUZANNE MOSS	TRUSTEE	3.00	Director	$0	$0	$0
JOOHEE RAND	TRUSTEE	3.00	Director	$0	$0	$0
CAROL ROMERO-WIRTH	TRUSTEE	3.00	Director	$0	$0	$0
JENNA SCANLAN	TRUSTEE	3.00	Director	$0	$0	$0
WARREN THOMPSON	TRUSTEE	3.00	Director	$0	$0	$0
AARON SCHUBACH	HEAD OF SCHO	40.00	Officer	$284,784	$38,237	$323,021

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	$15,200,830	$19,713,283	$73,018,999	$-4,512,453
2022	$20,700,006	$21,248,117	$76,530,803	$-548,111
2021	$36,111,805	$19,164,191	$79,113,849	$16,947,614
2020	$14,863,584	$16,628,371	$56,010,684	$-1,764,787
2019	$29,249,695	$17,080,218	$57,032,331	$12,169,477
2018	$10,667,663	$15,153,548	$41,690,878	$-4,485,885