Carlisle School

Nonprofit profile at a glance

EIN
540841622
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Martinsville, VA, USA
Phone
2766327288
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$4,521,145
Expenses
$4,721,028
Assets
$5,600,390
Liabilities
$1,768,380

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

Leadership & pay

17 people listed

Executive titles in this filing

  • MATT MCKINNEY (PRESIDENT)
  • JENNIFER THOMAS (IMMEDIATE PAST PRESIDENT)
  • WILL VAUGHN (PAST PRESIDENT)
  • WILLIAM L PANNILL (PAST PRESIDENT)
  • JACK THOMSON (PAST PRESIDENT)

Highest reported compensation

  • BARBARA NEAL HARDY-MEYER (HEAD OF SCHOOL): $118,750 total reported compensation

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

Overview

Mission

To provide private education for grade pre-school through grade 12

What it reported doing in 2024

Need-based financial aid programs for students (non-discriminatory) scholarship service provides scholarship based on needs

Operating model

Revenue model
Other-operating. 76% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 65
  • Accountability: 94
  • Sustainability: 35
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.8%; rating input score 75
  • Program expense ratio: 68.7%; rating input score 69
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 6th percentile among comparable filings
  • 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.4%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 1.19; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 2.5%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: -4.6% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -3.8% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -2.1% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 74.8% of revenue deployed · 68.7% of spending went to programs
  • Governance: 13 of 13 board members independent · 6 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $3.2M in reported program spending
  • Leadership: top reported pay $119K · 17 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 21/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.