SEAGULL SCHOOLS 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

1973

Legal Domicile

Principal Officer

MEGAN MCCORRISTON

Phone

8082618534

Tax Period

2024-07-01 to 2025-06-30

SEAGULL SCHOOLS INC, founded in 1973, is a mid-sized nonprofit in the Education sector that reported $13.9M in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year. Expenses of $12.5M left a modest 10% surplus.

Mission

Seagull Schools provides children an exceptional start to their educational journey. We do this in partnership with our learning community (families, students, teachers, kupuna) by: Ensuring we use nationally-recognized best practices in early childhood learning and care. Learning through play and having fun! Providing affordable, accessible educational opportunities of the highest quality. Recognizing individual needs and interests to create personalized learning opportunities. Building connections and engaging with our local community.

Program Service Accomplishments

Program 1

Expenses: $11,476,678 Revenue: $11,817,087

Seagull Schools Inc. is an early education program serving the Hawaii community with high-quality infant/toddler and preschool programs. Seagull Schools was established in 1971 and continues to...

Seagull Schools Inc. is an early education program serving the Hawaii community with high-quality infant/toddler and preschool programs. Seagull Schools was established in 1971 and continues to expand its provision of services to over 800 children and families on Oahu which includes six preschool and two infant/toddler programs in Aina Haina, Honolulu, Kailua, Kapolei, Ko Olina and Ocean Pointe.

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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 $1,378,279

Program Service Revenue $11,817,087

Investment Income $608,645

Other Revenue $104,165

TOTAL REVENUE $13,908,176

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,645,414

Fundraising Expenses $0

Program Expenses $11,476,678

Other Expenses $3,872,053

TOTAL EXPENSES $12,517,467

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,908,176	$14,707,161	-0.1%
Expenses	$12,517,467	$11,736,370	+0.1%
Net Income	$1,390,709	$2,970,791	-0.5%

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

181

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

$499,506

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MEGAN MCCORRISTON	CEO	40.00	Officer	$184,746	$23,509	$208,255
JULIE UPTON	CFO	40.00	Officer	$138,478	$20,620	$159,098
PETER HEIMERDINGER	COO	40.00	Officer	$112,707	$19,446	$132,153
KEANE OMAYE-BACKMAN	President	10.00	Officer Director	$0	$0	$0
STACIE SASAGAWA	VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
RICHARD NONAKA	TREASURER	10.00	Officer Director	$0	$0	$0
KEVIN DOYLE	SECRETARY	10.00	Officer Director	$0	$0	$0
SHANNON ALIVADO	Director	2.00	Director	$0	$0	$0
MICHAEL BUCK	Director	2.00	Director	$0	$0	$0
BRANDON HINAGA	Director	2.00	Director	$0	$0	$0
WYETH MATSUBARA	Director	2.00	Director	$0	$0	$0
KAREN MUKAI	Director	2.00	Director	$0	$0	$0
PEI-FANG NAKAYAMA	Director	2.00	Director	$0	$0	$0
AMY THOMPSON-INGRAHAM	Director	2.00	Director	$0	$0	$0
KIMMIE TIMSON	Director	2.00	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	$13,908,176	$12,517,467	$29,268,304	$1,390,709
2024	$14,707,161	$11,736,370	$27,817,352	$2,970,791
2023	$13,612,194	$9,976,584	$24,114,519	$3,635,610
2022	$12,473,981	$8,620,152	$23,079,609	$3,853,829
2021	$8,632,707	$7,909,671	$19,987,815	$723,036
2020	$8,688,300	$10,076,872	$17,415,353	$-1,388,572
2019	$10,109,850	$10,463,482	$17,771,808	$-353,632
2018	$10,184,059	$10,223,974	$18,377,380	$-39,915