Classically Formed Inc

Nonprofit profile at a glance

EIN
851088835
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Tulsa, OK, USA
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Reported finances

Revenue
$6,284,622
Expenses
$5,867,112
Assets
$1,003,115
Liabilities
$377,153

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

Leadership & pay

7 people listed

Executive titles in this filing

  • ANDREA HOGUE (PRESIDENT)

Highest reported compensation

  • RONALD GARCIA (HEAD OF SCHOOL): $125,000 total reported compensation

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

Overview

Mission

Operation of a charter school offering a classical education

What it reported doing in 2024

Operation of a charter school offering a classical education.

Operating model

Revenue model
Grant-funded. 91% of the money available for current operations came from government grants.
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 - 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.5%; rating input score 78
  • Program expense ratio: 84.1%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.6%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 0.17; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 2.1%; rating input score 75; 75th percentile among comparable filings

Growth

  • Program expense growth: 57.1% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 58.3% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 49.6% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 78.5% of revenue deployed · 84.1% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4.9M in reported program spending
  • Leadership: top reported pay $125K · 7 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.