Promise Academy Inc

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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

Scott Curtis

Phone

2088548280

Tax Period

2023-07-01 to 2024-06-30

Promise Academy Inc, founded in 2022, is a small nonprofit that reported $497K in total revenue in fiscal year 2023. Revenue surged 330% from the prior year, signaling strong growth momentum.

Mission

Public Education.

Program Service Accomplishments

Program 1

Expenses: $364,513

The school is an independent state-funded public charter school governed under Title 33, Chapter 52 of Idaho Code. It provides innovative educational curricula within the public school system but...

The school is an independent state-funded public charter school governed under Title 33, Chapter 52 of Idaho Code. It provides innovative educational curricula within the public school system but independent from the traditional structure. Virtually all revenues and expenses relate to this single program service.

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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 $496,803

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $496,803

Expense Breakdown

Grants Paid $0

Salaries & Benefits $415,187

Fundraising Expenses $0

Program Expenses $364,513

Other Expenses $80,718

TOTAL EXPENSES $495,905

Year-over-Year Comparison

	2023	2022	Change
Revenue	$496,803	$115,491	+3.3%
Expenses	$495,905	$120,020	+3.1%
Net Income	$898	$-4,529	-1.2%

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

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

$45,431

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Paul R Hale	Administrator	40.00	Officer	$40,315	$5,116	$45,431
Scott Curtis	Chair	1.00	Officer Director	$0	$0	$0
Kim Thomas	Treasurer	1.00	Officer Director	$0	$0	$0
Rick Alis	Vice Chair/Sec	1.00	Officer Director	$0	$0	$0
Terry Self	Member	1.00	Director	$0	$0	$0
Leslie Babbel	Member	1.00	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	$496,803	$495,905	$322,078	$898
2023	$115,491	$120,020	$278,353	$-4,529