GREAT SCHOOLS NC

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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

MADELINE HANNIGAN

Phone

7044093070

Tax Period

2024-01-01 to 2024-12-31

GREAT SCHOOLS NC, founded in 2022, is a community nonprofit in the Education sector that reported $3.4M in total revenue in fiscal year 2024. The organization ran a surplus of $1.4M, a strong 43% operating margin.

Mission

GREAT SCHOOLS NORTH CAROLINA (GSNC) WAS FOUNDED TO REMOVE BARRIERS TO SUCCESS FOR BOTH EXISTING AND NEW PUBLIC CHARTER SCHOOLS ACROSS THE STATE. GSNC SUPPORTS LEADERS WITH STRATEGIC FUNDING AND COLLABORATIVE PARTNERSHIPS TO INCREASE ACCESS TO HIGH-QUALITY PUBLIC EDUCATION OPTIONS.

Program Service Accomplishments

Program 1

Expenses: $1,366,927

GREAT SCHOOLS NORTH CAROLINA (GSNC) WAS FOUNDED TO REMOVE BARRIERS TO SUCCESS FOR BOTH EXISTING AND NEW PUBLIC CHARTER SCHOOLS ACROSS THE STATE. GSNC SUPPORTS LEADERS WITH STRATEGIC FUNDING AND...

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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 $3,300,000

Program Service Revenue $0

Investment Income $53,335

Other Revenue $0

TOTAL REVENUE $3,353,335

Expense Breakdown

Grants Paid $150,000

Salaries & Benefits $1,514,382

Fundraising Expenses $0

Program Expenses $1,366,927

Other Expenses $253,050

TOTAL EXPENSES $1,917,432

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,353,335	N/A	N/A
Expenses	$1,917,432	N/A	N/A
Net Income	$1,435,903	$0	N/A

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

$205,798

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT BENSON	BOARD CHAIR	5.00	Officer Director	$0	$0	$0
LANE FAISON	TREASURER	5.00	Officer Director	$0	$0	$0
MADELINE HANNIGAN	EXECUTIVE DIRECTOR	40.00	Officer	$180,000	$25,798	$205,798
SHAUNA BELL	MANAGING DIRECTOR	40.00	Highest	$150,983	$5,845	$156,828
HUNTER SCHIMPFF	DIRECTOR OF FINANCE	40.00	Highest	$144,150	$19,135	$163,285
ALLIE BECKER	CHIEF OF STAFF	40.00	Highest	$140,025	$19,135	$159,160
REID PHILLIPS	MANAGING DIRECTOR	40.00	Highest	$131,825	$17,064	$148,889
MARVIN ESPINOZA-LEIVA	DIRECTOR OF DATA STRATEGY	40.00	Highest	$128,625	$0	$128,625

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	$3,353,335	$1,917,432	$1,611,383	$1,435,903