Charlotte Education Foundation

Nonprofit profile at a glance

EIN
464239471
IRS 990 coverage
2015–2021
Forms available
Form 990 2021
Location
Charlotte, NC, USA
Phone
9802996633
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$8,634,032
Expenses
$8,785,162
Assets
$0
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • FAHRUDIN MEKIC (PRESIDENT)

Highest reported compensation

  • MURAT ALKAN (PRINCIPAL): $94,381 total reported compensation

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

Overview

Mission

Operation of a public charter school.

What it reported doing in 2021

Operated a public charter school serving approximately 848 students for the fiscal year ended 6/30/22.

Operating model

Revenue model
Earned-program. 88% 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.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 18
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.8%; rating input score 78
  • Program expense ratio: 76.5%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -1.8%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 1.1%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 18.8% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 22.3% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 15.6% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 77.8% of revenue deployed · 76.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6.7M in reported program spending
  • Leadership: top reported pay $94K · 8 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 7 filing years from 2015 to 2021
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 filed related-organization links
  • 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 18/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.