LIMESTONE CHARTER ASSOCIATION (EIN 871977985) - 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

2021

Legal Domicile

Principal Officer

ANGEL MALONE

Phone

8644884058

Tax Period

2024-07-01 to 2025-06-30

LIMESTONE CHARTER ASSOCIATION, founded in 2021, is a mid-sized nonprofit that reported $87.6M in total revenue in fiscal year 2024. Revenue surged 138% from the prior year, signaling strong growth momentum.

Mission

LIMESTONE CHARTER ASSOCIATION SERVES AS A CHARTER SCHOOL AUTHORIZER IN SOUTH CAROLINA AND PROVIDES SUPPORT AND OVERSIGHT TO ITS MEMBER SCHOOLS.

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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 $85,968,768

Program Service Revenue $1,676,148

Investment Income $0

Other Revenue $0

TOTAL REVENUE $87,644,916

Expense Breakdown

Grants Paid $85,373,185

Salaries & Benefits $1,598,128

Fundraising Expenses $10,500

Program Expenses $86,698,315

Other Expenses $608,955

TOTAL EXPENSES $87,580,268

Year-over-Year Comparison

	2024	2023	Change
Revenue	$87,644,916	$36,791,939	+1.4%
Expenses	$87,580,268	$36,871,408	+1.4%
Net Income	$64,648	$-79,469	-1.8%

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

$365,869

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NATHAN COPELAND	CHAIR	5.00	Officer Director	$0	$0	$0
LEE SOWELL	VICE CHAIR	1.00	Officer Director	$0	$0	$0
BRIDGETT FOWLER	SECRETARY	1.00	Officer Director	$0	$0	$0
WENDY WELLS	DIRECTOR	1.00	Director	$0	$0	$0
SEDRIC WEBBER	DIRECTOR	1.00	Director	$0	$0	$0
PHYLLIS PELZER	DIRECTOR	1.00	Director	$0	$0	$0
KELLY RICHARDSON	DEP SUP. OF FINANCE	40.00	Officer	$132,555	$5,302	$137,857
ANGEL MALONE	SUPERINTENDENT	40.00	Officer	$219,242	$8,770	$228,012
TABITHA TANEYHILL	DEP SUPERINTENDENT	40.00	Highest	$114,902	$5,300	$120,202
DONNA MANNING	EXEC. DR AUTH/DEV.	40.00	Highest	$122,494	$3,394	$125,888

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	$87,644,916	$87,580,268	$1,260,966	$64,648
2024	$36,791,939	$36,871,408	$825,428	$-79,469
2023	$22,333,338	$22,664,428	$967,163	$-331,090

LIMESTONE CHARTER ASSOCIATION