Chesapeake Bay Academy

Nonprofit profile at a glance

EIN
541522266
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Virginia Beach, VA, USA
Phone
7574976200
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$4,020,821
Expenses
$4,480,692
Assets
$4,815,574
Liabilities
$1,029,281

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

Leadership & pay

29 people listed

Highest reported compensation

  • JUDY JANKOWSKI (HEAD OF SCHOOL): $231,087 total reported compensation

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

Overview

Mission

The mission of chesapeake bay academy is to educate students through academic programs individualized to address their learning differences, empowering them with the skills and confidence necessary for success in higher education, careers, and life.

What it reported doing in 2024

Education for children with learning differences in classes which allow for individualized instruction based on lesson plans and teaching methods tailored to individual students.

Operating model

Revenue model
Earned-program. 76% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.
  • 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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 87
  • Accountability: 98
  • Sustainability: 28
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90%; rating input score 90
  • Program expense ratio: 80.6%; rating input score 81
  • Fundraising efficiency: $3.11 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.6%; rating input score 97; 26th 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: -11.4%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 1.07; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 0.6% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: 90% of revenue deployed · 80.6% of spending went to programs
  • Governance: 28 of 29 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.6M in reported program spending
  • Leadership: top reported pay $231K · 29 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 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 — Financial Efficiency: Fundraising efficiency scored 9/100.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.