THE EQUITY PROJECT CHARTER 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

2008

Legal Domicile

Principal Officer

CASEY ASH

Phone

6462546451

Tax Period

2023-07-01 to 2024-06-30

THE EQUITY PROJECT CHARTER SCHOOL, founded in 2008, is a mid-sized nonprofit in the Education sector that reported $28.4M in total revenue in fiscal year 2023. Expenses of $34.7M exceeded revenue, resulting in a 22% operating deficit.

Mission

THE EQUITY PROJECT CHARTER SCHOOL (THE "SCHOOL") IS A SCHOOL SERVING KINDERGARTEN THROUGH 8TH GRADE IN THE WASHINGTON HEIGHTS NEIGHBORHOOD OF NEW YORK CITY. THE SCHOOL BELIEVES THAT TEACHER QUALITY IS THE MOST IMPORTANT FACTOR IN ACHIEVING EDUCATIONAL EQUITY FOR LOW INCOME STUDENTS. SPURRED BY THIS BELIEF, THE SCHOOL REALLOCATES ITS PUBLIC FUNDS BY MAKING AN UNPRECEDENTED INVESTMENT IN ATTRACTING AND RETAINING GREAT TEACHERS.

Program Service Accomplishments

Program 1

Expenses: $32,368,619 Revenue: $24,366,407

THE SCHOOL'S MISSION IS FOCUSED ON PROVIDING STUDENTS FROM LOW-INCOME FAMILIES WITH EQUAL ACCESS TO OUTSTANDING TEACHERS AS A MEANS OF ACHIEVING EDUCATIONAL EQUALITY. THE SCHOOL IS UNIQUELY FOCUSED ON ATTRACTING AND RETAINING MASTER TEACHERS. TO DO SO, THE SCHOOL USES A THREE-PRONGED STRATEGY OF RIGOROUS QUALIFICATIONS, REDEFINED EXPECTATIONS, AND REVOLUTIONARY COMPENSATION.CLASSES COMMENCED IN THE WASHINGTON HEIGHTS NEIGHBORHOOD OF NEW YORK CITY IN SEPTEMBER 2009 AND THE SCHOOL PROVIDED EDUCATION TO APPROXIMATELY 1,080 STUDENTS IN GRADES KINDERGARTEN THROUGH EIGHTH DURING THE 2023-2024 ACADEMIC YEAR.

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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 $3,733,526

Program Service Revenue $24,366,407

Investment Income $294,390

Other Revenue $15,156

TOTAL REVENUE $28,409,479

Expense Breakdown

Grants Paid $71,799

Salaries & Benefits $19,567,419

Fundraising Expenses $43,212

Program Expenses $32,368,619

Other Expenses $15,045,214

TOTAL EXPENSES $34,684,432

Year-over-Year Comparison

	2023	2022	Change
Revenue	$28,409,479	$26,715,118	+0.1%
Expenses	$34,684,432	$25,847,903	+0.3%
Net Income	$-6,274,953	$867,215	-8.2%

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

192

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

$597,075

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SEAN JUAN	CHAIR	4.00	Officer Director	$0	$0	$0
LAURA TAVORMINA	VICE CHAIR & TREASURER	4.00	Officer Director	$0	$0	$0
JENNIFER MULHERN	SECRETARY	4.00	Officer Director	$0	$0	$0
ANDREW BUHER	TRUSTEE	4.00	Director	$0	$0	$0
BROOKS CLARK	TRUSTEE	4.00	Director	$0	$0	$0
ANYELI MATOS	TRUSTEE	4.00	Director	$0	$0	$0
SHELLY GUPTA	CHIEF FINANCIAL OFFICER	50.00	Officer	$169,774	$31,970	$201,744
CASEY ASH	HEAD OF SCHOOL	50.00	Officer	$182,943	$21,997	$204,940
AARON VILLELA	CHIEF EXECUTIVE OFFICER	50.00	Officer	$159,774	$30,617	$190,391
ANATEA CARPENTER	DIRECTOR	50.00	Highest	$160,456	$14,512	$174,968
JOSEPH CARBONE	TEACHER	50.00	Highest	$157,490	$15,626	$173,116
KOFI WILSON	TEACHER	50.00	Highest	$158,121	$12,525	$170,646
JASON SKEETER	TEACHER	50.00	Highest	$151,356	$29,009	$180,365
ALAN DAVIS	TEACHER	50.00	Highest	$149,824	$24,701	$174,525

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	$28,409,479	$34,684,432	$27,492,634	$-6,274,953
2023	$26,715,118	$25,847,903	$51,606,413	$867,215
2022	$28,143,929	$24,669,981	$16,781,365	$3,473,948
2021	$23,725,207	$23,139,401	$16,389,724	$585,806
2020	$21,786,393	$22,040,784	$16,075,526	$-254,391
2019	$18,675,378	$18,480,384	$14,584,274	$194,994
2018	$15,082,797	$16,031,862	$14,037,943	$-949,065