Bright Minds Academy Inc

Nonprofit profile at a glance

EIN
832636413
IRS 990 coverage
2020–2021
Forms available
Form 990 2021, Form 990-EZ 2019
Location
Staten Island, NY, USA
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$1,279,082
Expenses
$1,226,305
Assets
$200,877
Liabilities
$252,814

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Dian Sawh (CEO)

Highest reported compensation

  • Nirlyn King (COO Director): $227,399 total reported compensation
  • Rueneca Watkins (Treasurer): $15,226 total reported compensation
  • Sasha Pierre (Secretary): $2,526 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide inclusive and adaptable learning

What it reported doing in 2021

Provide inclusive and adaptable learning experiences, faciliate growth that enables students to move through the different stages of learning.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 program spending has grown recently. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 55
  • Accountability: 21
  • Sustainability: 20
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91%; rating input score 91
  • Program expense ratio: 94.9%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 11th 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: Limited
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.1%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.16; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 1.26; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 20%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 53.2% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 83.5% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 101.9% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 91% of revenue deployed · 94.9% of spending went to programs
  • Governance: 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $227K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 2 filing years from 2020 to 2021
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.