Collegiate School

Nonprofit profile at a glance

EIN
221489906
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Passaic, NJ, USA
Phone
9737771714
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Reported finances

Revenue
$1,681,134
Expenses
$1,670,233
Assets
$371,974
Liabilities
$193,817

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

Leadership & pay

6 people listed

Executive titles in this filing

  • ROBERT DIVINCENZO (President)

Highest reported compensation

  • PAULA STEELE (HEADMASTER/SECR): $125,400 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 provide for the education of all students enrolled in preschool through twelfth grade. Ultimately, collegiate school prepares a student who is knowledgeable, multi-disciplined, aware of tradition, and receptive to innovation.a student who is tolerant, and mature, who questions and thinks independently,, who meets the future with direction and confidence

What it reported doing in 2024

Educational-providing instructional services and other student programs and activities to approximately 50 enrolled students

Operating model

Revenue model
Earned-program. 100% 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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 61
  • Sustainability: 28
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.2%; rating input score 97
  • Program expense ratio: 97.9%; rating input score 98
  • 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: 60%; rating input score 60; 12th 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.6%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: -1.4% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 97.2% of revenue deployed · 97.9% of spending went to programs
  • Governance: 3 of 5 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $125K · 6 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 12 filing years from 2013 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.