Challenge Preparatory Charter School

Nonprofit profile at a glance

EIN
272203903
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Far Rockaway, NY, USA
Phone
7183271352
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$29,576,022
Expenses
$32,050,945
Assets
$90,594,036
Liabilities
$94,038,007

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

Leadership & pay

17 people listed

Executive titles in this filing

  • DR LESLIE MULLINGS (CEO/FOUNDER)

Highest reported compensation

  • MAVGAR MONDESIR-GORDON (SR. DIRECTOR, TEACHING & LEARNING): $329,909 total reported compensation
  • DR LESLIE MULLINGS (CEO/FOUNDER): $321,700 total reported compensation
  • KENTIA COREUS (SR. DIRECTOR, TEACHING & LEARNING): $243,531 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 prepare students from the greater far rockaway area of New York city to excel academically, to demonstrate mastery of the New York state and common core learning standards, and to achieve their career aspirations.

What it reported doing in 2024

The mission of challenge preparatory charter school (challenge) is to prepare students from the greater far rockaway community to excel academically, to demonstrate mastery of the nys and next generation learning standards and to achieve their career aspirations. Challenge cultivates and supports the intellectual, aesthetic, social, emotional and ethical development of its students and prepares them to be responsible 21st century citizens. To accomplish its mission, challenge offers a rigorous instructional program in a safe, supportive, technology-infused and data-enriched school environment.since 2010, challenge preparatory charter school has served families in far rockaway, ny offering excellence in education in a supportive and rigorous learning environment. We are the only school on the peninsula to offer kindergarten through early college education. For the 2024-2025 school year, the school served approximately 1,194 students in grades kindergarten to 12th.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.6%; rating input score 98
  • Program expense ratio: 90.1%; rating input score 90
  • Fundraising efficiency: $18.59 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • 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; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.4%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 2.83; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 1.04; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 6.6%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 14.9% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 13.2% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 30.5% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 97.6% of revenue deployed · 90.1% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $28.9M in reported program spending
  • Leadership: top reported pay $330K · 17 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.8M reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 9 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 12/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 55/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.