Beacon Charter School Corporation

Nonprofit profile at a glance

EIN
582672578
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Woonsocket, RI, USA
Phone
4016716261
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$7,543,816
Expenses
$7,425,632
Assets
$4,535,718
Liabilities
$1,984,234

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

Leadership & pay

18 people listed

Highest reported compensation

  • MICHAEL SKELDON EDD (SUPERINTENDENT): $194,195 total reported compensation
  • ROBIN WOODWARD (PRINCIPAL - MS): $176,239 total reported compensation
  • JOHN BURNS (PRINCIPAL - HS): $175,026 total reported compensation

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

Overview

Mission

Beacon charter schools develops artistic thinkers by nurturing self-expression while preparing our graduates with the academic skills necessary for sustained post-secondary success.

What it reported doing in 2024

Beacon charter schools, located in woonsocket, Rhode Island currently serves over 399 student artists from cities and towns across Rhode Island. Beacon charter high school for the arts opened in 2003 to bring educational alternatives to the community. The school combines a high school college preparatory program with visual, performing, and culinary arts. Founders academy was opened in 2015 serving grades 6-8, to focus on strengthening students' core academic skills while introducing them to beacon's three cornerstone arts programs.

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.7%; rating input score 79
  • Program expense ratio: 79.8%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.6%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.61; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0.44; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 9.3%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 6.9% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 78.7% of revenue deployed · 79.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.9M in reported program spending
  • Leadership: top reported pay $194K · 18 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $327K reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • Moderate — Sustainability: Operating margin scored 40/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.