SALEM ACADEMY

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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

1945

Legal Domicile

Principal Officer

NATE COOKE

Phone

5033781219

Tax Period

2023-07-01 to 2024-06-30

SALEM ACADEMY, founded in 1945, is a mid-sized nonprofit in the Education sector that reported $13.7M in total revenue in fiscal year 2023. Revenue surged 70% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.2M, a strong 45% operating margin.

Mission

TO PROVIDE AN EXCELLENT EDUCATION FROM A CHRIST-CENTERED, BIBLICAL PERSPECTIVE SO THAT OUR STUDENTS MIGHT KNOW AND SERVE GOD.

Program Service Accomplishments

Program 1

Expenses: $6,975,343 Revenue: $6,975,096

AS A CHRISTIAN SCHOOL, SALEM ACADEMY HAS A SPECIFIC PHILOSOPHY WHICH IS ROOTED IN ITS ARTICLES OF FAITH, FOUNDED ON THE VIEW THAT THE HOLY BIBLE IS THE ONLY WORD OF GOD. SALEM ACADEMY HAS BEEN...

AS A CHRISTIAN SCHOOL, SALEM ACADEMY HAS A SPECIFIC PHILOSOPHY WHICH IS ROOTED IN ITS ARTICLES OF FAITH, FOUNDED ON THE VIEW THAT THE HOLY BIBLE IS THE ONLY WORD OF GOD. SALEM ACADEMY HAS BEEN EQUIPPING STUDENTS TO KNOW AND SERVE GOD THROUGH AN EXCELLENT EDUCATION FROM A BIBLICAL PERSPECTIVE FOR OVER 75 YEARS. SALEM ACADEMY EMPHASIZES EDUCATIONAL EXCELLENCE WHILE SEEKING TO BUILD CHARACTER AND VALUES WITHIN THE LIFE OF EACH STUDENT PRESCHOOL TO GRADE 12.

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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 $6,419,336

Program Service Revenue $6,975,096

Investment Income $161,545

Other Revenue $157,985

TOTAL REVENUE $13,713,962

Expense Breakdown

Grants Paid $1,070,193

Salaries & Benefits $4,709,418

Fundraising Expenses $86,169

Program Expenses $6,975,343

Other Expenses $1,736,731

TOTAL EXPENSES $7,516,342

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,713,962	$8,061,046	+0.7%
Expenses	$7,516,342	$7,194,150	+0.0%
Net Income	$6,197,620	$866,896	+6.1%

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

187

Volunteers

350

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

$144,579

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NATE COOKE	BOARD CHAIR	10.00	Officer Director	$0	$0	$0
ANGELA WILLIAMS	VICE CHAIR	10.00	Officer Director	$0	$0	$0
LORI MUSCUTT	SECRETARY	10.00	Officer Director	$0	$0	$0
KEVIN CAMPBELL	TREASURER	10.00	Officer Director	$0	$0	$0
JOEL BLOUNT	TRUSTEE	5.00	Director	$0	$0	$0
AARON IMIG	TRUSTEE	5.00	Director	$0	$0	$0
TIMOTHY PETERSON	SUPERINTENDENT	40.00	Officer	$40,692	$9,201	$49,893
JEFF KLINE	DIRECTOR OF FINANCE	40.00	Officer	$85,403	$9,283	$94,686

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	$13,713,962	$7,516,342	$15,565,284	$6,197,620
2023	$8,061,046	$7,194,150	$9,202,937	$866,896
2022	$7,213,475	$6,325,590	$8,184,722	$887,885
2021	$6,147,968	$4,283,911	$7,222,683	$1,864,057
2020	$5,664,542	$5,721,144	$5,707,404	$-56,602
2019	$5,795,808	$6,071,399	$5,160,795	$-275,591