MIDLAND SCHOOL CORPORATION

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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

1932

Legal Domicile

Principal Officer

HANNAH NELSON

Phone

8056885114

Tax Period

2024-07-01 to 2025-06-30

MIDLAND SCHOOL CORPORATION, founded in 1932, is a community nonprofit in the Education sector that reported $7.7M in total revenue in fiscal year 2024. Net assets of $33.1M represent 52 months of operating reserves.

Mission

MIDLAND SCHOOL PROVIDES A DISTINCTIVE CO-EDUCATIONAL BOARDING SCHOOL EXPERIENCE TO A DIVERSE STUDENT BODY IN GRADES 9-12. THROUGH STUDY AND WORK, MIDLAND TEACHES THE VALUE OF A LIFETIME OF LEARNING, SELF-RELIANCE, SIMPLICITY, RESPONSIBILITY TO (SEE SCHEDULE O) COMMUNITY AND A LOVE FOR THE OUTDOORS.

Program Service Accomplishments

Program 1

Expenses: $6,101,538 Revenue: $5,882,287

MIDLAND SCHOOL, LOCATED ON A 2,860-ACRE RANCH AT THE EDGE OF THE LOS PADRES NATIONAL FOREST IN SANTA BARBARA COUNTY, HAS BEEN THE LEADER OF PLACE-BASED EDUCATION SINCE 1932. EVERYTHING WE DO-FROM THE COURSES WE CHOOSE TO TEACH TO HOW WE MAINTAIN OUR CAMPUS TO THE WAY WE FEED OURSELVES-ORIGINATES FROM AN INTENTIONAL CURRICULUM THAT FOCUSES NOT ONLY ON COLLEGE PREPARATORY CLASSES, BUT ALSO ON LEADERSHIP, COMMUNITY, AND STEWARDSHIP. OUR SCALE EMPOWERS STUDENTS WITH AUTHENTIC LEADERSHIP OPPORTUNITIES, PROVIDES HIGHLY PERSONALIZED LEARNING, AND INSPIRES THE PURSUIT OF INTELLECTUAL PASSIONS. AT MIDLAND OVER HALF OF OUR STUDENTS RECEIVEGENEROUS FINANCIAL AID TO ATTEND, AND THE DEPTH OF OUR BOARDING EXPERIENCE FACILITATES BOTH TOP-TIER COLLEGE ADMISSIONS AND FUTURE SUCCESS.

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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 $565,099

Program Service Revenue $5,882,287

Investment Income $1,204,594

Other Revenue $0

TOTAL REVENUE $7,651,980

Expense Breakdown

Grants Paid $1,657,500

Salaries & Benefits $3,211,383

Fundraising Expenses $220,123

Program Expenses $6,101,538

Other Expenses $3,084,428

TOTAL EXPENSES $7,953,311

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,651,980	$7,675,002	0.0%
Expenses	$7,953,311	$7,909,295	+0.0%
Net Income	$-301,331	$-234,293	+0.3%

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

$396,974

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETER SCHUYLER	TRUSTEE	2.00	Director	$0	$0	$0
TOM MONE	TRUSTEE	2.00	Director	$0	$0	$0
PETER EWING	SECRETARY	5.00	Officer Director	$0	$0	$0
GRETCHEN COLLARD	TRUSTEE	2.00	Director	$0	$0	$0
ANDREW MCCARTHY	CHAIR	5.00	Officer Director	$0	$0	$0
MARC HOLDEN	TRUSTEE	2.00	Director	$0	$0	$0
J SASSAMAN	TRUSTEE	2.00	Director	$0	$0	$0
JASON BURNS	TRUSTEE	2.00	Director	$0	$0	$0
HOP HOPKINS	TRUSTEE	2.00	Director	$0	$0	$0
ROBIN BARAL	TRUSTEE	2.00	Director	$0	$0	$0
HOWARD MCCOY	VICE CHAIR	5.00	Officer Director	$0	$0	$0
FANRUI SHA	TRUSTEE	2.00	Director	$0	$0	$0
ADAM XU	TRUSTEE	2.00	Director	$0	$0	$0
REBECCA GARRETT	TRUSTEE	2.00	Director	$0	$0	$0
BEDONNA SMITH	TRUSTEE	2.00	Director	$0	$0	$0
RON ANDRADE	TRUSTEE	2.00	Director	$0	$0	$0
JUSTENE HILL EDWARDS	TRUSTEE	2.00	Director	$0	$0	$0
ABIGAIL WALD	TRUSTEE	2.00	Director	$0	$0	$0
CHRISTOPHER BARNES	HEAD OF SCHOOL (FORMER)	40.00	Officer	$157,118	$20,055	$177,173
ALEX TATE	DIRECTOR OF FINANCE & OPS	40.00	Officer	$88,635	$17,369	$106,004
HANNAH NELSON	HEAD OF SCHOOL	40.00	Officer	$108,222	$5,575	$113,797
CIERRA RICKMAN	DIRECTOR OF ADVANCEMENT	40.00	Highest	$123,050	$10,218	$133,268

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	$7,651,980	$7,953,311	$40,948,562	$-301,331
2024	$7,675,002	$7,909,295	$38,887,691	$-234,293
2023	$8,345,806	$6,820,323	$37,854,096	$1,525,483
2022	$8,534,817	$6,749,268	$33,181,784	$1,785,549
2021	$11,007,696	$6,695,319	$34,474,592	$4,312,377
2020	$6,172,490	$5,949,103	$26,939,043	$223,387
2019	$6,356,337	$5,779,619	$25,280,659	$576,718