Ace Preparatory Inc

Nonprofit profile at a glance

EIN
473128337
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3177449847
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$2,057,286
Expenses
$1,962,582
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • TATIANA DAY (PRESIDENT)
  • MITCHELL GAUGER (VICE PRESIDENT)

Highest reported compensation

  • AMANDA LILES (HEAD OF SCHOOL): $93,097 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Through rigorous academics, positive character development, and excellence in everything we do, ace preparatory academy charter school educates kindergarten through grade 5 students for school success and lives of opportunity.

What it reported doing in 2024

Receipt of lilly grant phase i and phase ii, enabling the following: specialized math pdpurchase of an activity buspurchase of reading intervention programsafter school program development

Operating model

Revenue model
Grant-funded. 87% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 98% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 90
  • Accountability: 83
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.8%; rating input score 65
  • Program expense ratio: 67.9%; rating input score 68
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 19th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.6%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 4.7%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: 9.3% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 11.4% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 64.8% of revenue deployed · 67.9% of spending went to programs
  • Governance: 7 of 8 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $93K · 8 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 55/100.