Classically Formed Foundation Inc (EIN 881453619) - 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

2022

Legal Domicile

Principal Officer

Nathan Phelps

Phone

9183466730

Tax Period

2023-07-01 to 2024-06-30

Classically Formed Foundation Inc, founded in 2022, is a community nonprofit in the Education sector that reported $1.7M in total revenue in fiscal year 2023. Revenue surged 98% from the prior year, signaling strong growth momentum. Expenses of $1.6M left a modest 7% surplus.

Mission

The Classically Formed Foundation mission is to form schools that form the hearts and minds of students through a content rich classical education in the liberal arts and sciences with instruction in the principles of moral character and civic virtue.

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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 (2023)

Revenue Breakdown

Contributions & Grants $742,183

Program Service Revenue $0

Investment Income $172,449

Other Revenue $825,997

TOTAL REVENUE $1,740,629

Expense Breakdown

Grants Paid $402,187

Salaries & Benefits $0

Fundraising Expenses $79,686

Program Expenses $1,385,009

Other Expenses $1,170,332

TOTAL EXPENSES $1,614,441

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,740,629	$879,029	+1.0%
Expenses	$1,614,441	$130,301	+11.4%
Net Income	$126,188	$748,728	-0.8%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Brian Beam	Director	2.00	Director	$0	$0	$0
Chris George	Director	0.50	Director	$0	$0	$0
Julie James	Secretary	3.00	Officer Director	$0	$0	$0
Belinda Jordan	Director	0.50	Director	$0	$0	$0
Jack Lee	Director	0.50	Director	$0	$0	$0
Nathan Phelps	President	5.00	Officer Director	$0	$0	$0
J David Veitch	Director	0.50	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	$1,740,629	$1,614,441	$20,983,962	$126,188
2023	$879,029	$130,301	$20,294,018	$748,728

Classically Formed Foundation Inc