Canongate High School Inc

Nonprofit profile at a glance

EIN
463449109
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Arden, NC, USA
Phone
8287128924
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Secondary, High School
Affiliation
Christianity

Official website

Reported finances

Revenue
$252,211
Expenses
$207,113
Assets
$64,961
Liabilities
$13,000

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

Leadership & pay

11 people listed

Highest reported compensation

  • Erick Allen (School Principal): $60,000 total reported compensation

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

Overview

Mission

Cannongate High School is a religious educational organization affiliated with the Roman Catholic Diocese of Charlotte.

What it reported doing in 2024

-Canongate was acreddited by Lumen Accreditation December 2024. Lumen Accreditation is a specialized Catholic K-12 school accreditation program sponsored by the Catholic University ITCE and is recognized by the College Board and NCPSA. . -Our 1st annual Kingfisher Folk Fest attracted over 500 participants and was a successful fundraiser for the school. . -We celebrated the graduation of 8 seniors. . -Our graduating seniors organized and participated in a mission trip to Cusco, Peru.

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 the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 42
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69%; rating input score 69
  • Program expense ratio: 84%; rating input score 84
  • Fundraising efficiency: $26.81 raised per $1 spent on fundraising; rating input score 64; 64th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 17.9%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 29%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: -1.3% per year; rating input score 0; 26th percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 24.6% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 69% of revenue deployed · 84% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $174K in reported program spending
  • Leadership: top reported pay $60K · 11 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.