ADI Schools Inc

Nonprofit profile at a glance

EIN
271405305
IRS 990 coverage
2011–2018
Forms available
Form 990 2018
Location
Indianapolis, IN, USA
Phone
3172361400
Rating confidence
Limited
Sector
Charter Schools

Official website

Reported finances

Revenue
$0
Expenses
$2,669
Assets
$12,654
Liabilities
$15,323

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

4 people listed

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

ADI Schools, Inc. (ADI) was established in 2009 to operate two Indianapolis Mayor sponsored charter schools, Andrew Academy and Padua Academy. ADI Schools, Inc. surrendered the charters for their two schools at the end of the 2014-2015 school year (6/30/2015).

What it reported doing in 2018

Residual transactions as a result of ADI Schools surrendering the charters for their two schools at the end of the 2014-2015 school year.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 82
  • Sustainability: 15
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Missing
    • Other executive compensation review process: Missing
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 4.74; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 1.21; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 1,240.8%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -61.1% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -7.7% per year; rating input score 0; 40th percentile among comparable filings
  • Asset growth: -31.2% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 0% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $156K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 41 of 41 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2011 to 2018
  • Contacts: How to reach this organization
  • Related organizations: 4 filed related-organization links
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.