Cincinnati Preschool Promise Llc

Nonprofit profile at a glance

EIN
814743008
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Cincinnati, OH, USA
Phone
5132636762
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Kindergarten, Preschool, Nursery School, Early Admissions

Official website

Reported finances

Revenue
$9,666,438
Expenses
$9,676,688
Assets
$1,931,179
Liabilities
$1,632,608

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

Leadership & pay

22 people listed

Executive titles in this filing

  • CHARA FISHER JACKSON (EXECUTIVE DIRECTOR & CEO)

Highest reported compensation

  • CHARA FISHER JACKSON (EXECUTIVE DIRECTOR & CEO): $216,336 total reported compensation
  • HECTOR POLANCO (FINANCE DIRECTOR): $136,101 total reported compensation
  • KENETRA MATHIS (DEPUTY DIRECTOR): $133,652 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 organization's mission is to expand access to quality community provider preschools located within the geographic boundaries of the cincinnati city school district in hamilton county, Ohio (the "school district"). It focuses on access to quality preschools because attending a quality preschool is considered a key step to preparing children for future educational achievement.

What it reported doing in 2024

Tuition assistance: the goal of the tuition assistance program is to give preschool-age children living in impoverished circumstances the opportunity to attend a high quality rated preschool.with this preschool preparation the children are projected to reach higher levels of educational achievement in kindergarten and beyond. The increased educational achievement is seen as a key step in improving the children's long-term social and economic opportunities.the program is focused on first helping those children living in families with incomes at or below 200% of the federal poverty level and then progressively increasing the number of children helped by(program narrative continues in schedule o) increasing that threshold. The program funds attendance at high quality rated preschools, which are those preschools that have achieved a gold or silver (formerly 3, 4, or 5 star) rating in the Ohio step up to quality (sutq) rating system.the program is restricted to helping children between the ages of 3 and 5 years of age who are not yet eligible for kindergarten, but who are residents of the geographic areas encompassed by the cincinnati public school district (cps) and who are entitled to attend cps school under Ohio rev. Code 3313.64, but chose to attend a non-cps preschool located within the cps boundaries. These non-cps preschools are commonly referred to as community providers and can include preschool programs receiving federal assistance, Ohio grants, and even parochial and non-parochial private schools.in order to help the largest number of children families are required to first apply for available federal, state, and local preschool-related funding before becoming eligible to receive tuition assistance funds.

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 72
  • Accountability: 86
  • Sustainability: 24
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.4%; rating input score 86
  • Program expense ratio: 86.3%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 1st percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 94.5%; rating input score 94; 29th 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 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -0.1%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.85; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 5%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 15.3% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 14.1% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: -1.9% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 86.4% of revenue deployed · 86.3% of spending went to programs
  • Governance: 15 of 15 board members independent · 6 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $8.4M in reported program spending
  • Leadership: top reported pay $216K · 22 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 28 of 30 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 22 filed money-flow records
  • Related organizations: 12 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.

  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 53/100.