Colonial Preparatory Academy
Nonprofit profile at a glance
- EIN
- 341866952
- IRS 990 coverage
- 2013–2016
- Forms available
- Form 990 2016
- Location
- Akron, OH, USA
- Phone
- 3307850180
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Charter Schools
Reported finances
- Revenue
- $2,295,224
- Expenses
- $2,431,016
- Assets
- $1,833,231
- Liabilities
- $3,757,807
Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- JANICE BAUMAN (PRESIDENT)
Highest reported compensation
- BRIAN G ADAMS (TREASURER): $3,000 total reported compensation
- ANGELA ROBINSON (MEMBER): $2,625 total reported compensation
- PATRTICIA BEALS (MEMBER): $2,562 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Colonial nbsp; prep nbsp; academy nbsp; serving nbsp; grades nbsp; k-8 nbsp; is nbsp; dedicated nbsp; to nbsp; improving nbsp; the nbsp; lives nbsp; of nbsp; its nbsp; students nbsp; by nbsp; providing nbsp; authentic nbsp; learning nbsp; experiences nbsp; in nbsp; a nbsp; collaborative nbsp; nurturing nbsp; environment nbsp; that nbsp; will nbsp; build nbsp; a nbsp; foundation nbsp; for nbsp; students nbsp; success nbsp; in nbsp; school nbsp; at nbsp; future nbsp; work nbsp; and nbsp; in nbsp; life nbsp; to nbsp; achieve nbsp; the nbsp; mission nbsp; our nbsp; school nbsp; will nbsp; integrate nbsp; current nbsp; learning nbsp; technologies nbsp; into nbsp; each nbsp; classroom nbsp; we nbsp; will nbsp; offer nbsp; authentic nbsp; learning nbsp; experiences nbsp; that nbsp; are nbsp; representative nbsp; of nbsp; how nbsp; children nbsp; learn nbsp; best nbsp; as nbsp; well nbsp; as nbsp; offer nbsp; a nbsp; schedule nbsp; and nbsp; support nbsp; activities nbsp; that nbsp; enable nbsp; each nbsp; student nbsp; to nbsp; reach nbsp; to nbsp; his nbsp; or nbsp; her nbsp; p
What it reported doing in 2016
The school provided education to 228 students
Operating model
- Revenue model
- Grant-funded. 100% 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
SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 60
- Transparency & Controls: 100
- Accountability: 91
- Sustainability: 28
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 68.9%; rating input score 69
- Program expense ratio: 65%; rating input score 65
- 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: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- 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: -5.9%; rating input score 17; 17th percentile among comparable filings
- Total-asset coverage ratio: 0.75; rating input score 35; 35th percentile among comparable filings
- Liabilities to assets ratio: 2.05; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 0.7%; rating input score 83; 83rd percentile among comparable filings
Growth
- Program expense growth: 18% per year; rating input score 100; 85th percentile among comparable filings
- Revenue growth: 9.8% per year; rating input score 100; 74th percentile among comparable filings
- Asset growth: 6.4% per year; rating input score 100; 58th percentile among comparable filings
Details
- Where the money goes: 68.9% of revenue deployed · 65% of spending went to programs
- Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $2.4M in reported program spending
- Leadership: top reported pay $3K · 8 people listed
- Highest-paid contractors: 1 contractor listed · $1.4M reported
- Consistency: 26 of 26 current checks pass
- Schedules: 5 filed schedules
- Filing history: 4 filing years from 2013 to 2016
- Contacts: How to reach this organization
- Money network: 8 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- High — Sustainability: Operating margin scored 17/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
- High — Sustainability: Liabilities to assets ratio scored 2/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.