CHARTER SCHOOL OF NEW CASTLE (EIN 861105534) - 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

2005

Legal Domicile

Principal Officer

HENRY NAYLOR IV

Phone

3026783247

Tax Period

2024-07-01 to 2025-06-30

CHARTER SCHOOL OF NEW CASTLE, founded in 2005, is a mid-sized nonprofit in the Education sector that reported $14.4M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $13.2M left a modest 8% surplus.

Mission

A DELAWARE CHARTER SCHOOL WITH A MISSION THAT ACKNOWLEDGES THE LEARNING DIFFERENCES OF EACH INDIVIDUAL CHILD AND NURTURES THE UNIQUENESS OF EACH FAMILY STRUCTURE.

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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 $9,406,848

Program Service Revenue $4,777,681

Investment Income $231,761

Other Revenue $0

TOTAL REVENUE $14,416,290

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,592,479

Fundraising Expenses $0

Program Expenses $13,221,001

Other Expenses $6,628,522

TOTAL EXPENSES $13,221,001

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,416,290	$15,424,401	-0.1%
Expenses	$13,221,001	$12,441,308	+0.1%
Net Income	$1,195,289	$2,983,093	-0.6%

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

$473,260

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HENRY NAYLOR IV	PRESIDENT	10.00	Officer Director	$0	$0	$0
NAKISHIA WILLIAMS BAILEY PHD	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
THOMAS PRESTON	TREASURER	3.00	Officer Director	$0	$0	$0
LATANYA PIERCE	BOARD MEMBER	1.00	Director	$0	$0	$0
RASHEENA BUNGY	BOARD MEMBER	1.00	Director	$0	$0	$0
DORIS KERR	BOARD MEMBER	1.00	Director	$0	$0	$0
HERSH PATEL	BOARD MEMBER	1.00	Director	$0	$0	$0
EMILY LEACH	BOARD MEMBER	1.00	Director	$0	$0	$0
GENEER JOHNSON	BOARD MEMBER	1.00	Director	$0	$0	$0
BRETT TAYLOR	BOARD MEMBER	1.00	Director	$0	$0	$0
LARETHA ODUMOSU	EXECUTIVE DIRECTOR - MIDDLE SCHOOL	40.00	Officer	$180,965	$71,392	$252,357
RACHEL VALENTIN	EXECUTIVE DIRECTOR - ELEMENTARY SCHOOL	40.00	Officer	$169,772	$51,131	$220,903
AMY NOVOSEL	PRINCIPAL - ELEMENTARY SCHOOL	40.00	Highest	$134,081	$60,577	$194,658
NADEGE PYATT	ASSISTANT PRINCIPAL - ELEMENTARY SCHOOL	40.00	Highest	$128,380	$29,658	$158,038
SARA TOUSSAINT-MOODY	PRINCIPAL - MIDDLE SCHOOL	40.00	Highest	$131,800	$60,017	$191,817

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	$14,416,290	$13,221,001	$13,216,820	$1,195,289
2024	No data	No data	No data	No data
2023	$14,898,825	$14,599,354	$13,691,501	$299,471
2022	$13,690,382	$8,983,364	$17,629,951	$4,707,018
2021	$11,266,040	$11,264,266	$11,244,904	$1,774
2020	$10,632,735	$11,225,051	$7,127,307	$-592,316
2019	$10,826,294	$11,394,779	$6,032,396	$-568,485
2018	$9,513,312	$10,656,576	$7,114,234	$-1,143,264

CHARTER SCHOOL OF NEW CASTLE