Cristo Rey Richmond High School Inc

Nonprofit profile at a glance

EIN
812742073
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8044474704
Rating
77
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Secondary, High School
Affiliation
Christianity

Official website

Reported finances

Revenue
$6,472,819
Expenses
$6,172,330
Assets
$20,292,169
Liabilities
$8,545,245

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

Leadership & pay

21 people listed

Executive titles in this filing

  • Peter J McCourt (Immediate Past President & CEO)
  • Charleita Richardson (President & CEO)

Highest reported compensation

  • Peter J McCourt (Immediate Past President & CEO): $170,068 total reported compensation
  • James Parrish (VP of Advancement & Chief Development Officer): $125,265 total reported compensation
  • Kristina Caplinger (VP, Corporate Work Study & Chief Talent Officer): $112,062 total reported compensation

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

Overview

Mission

Cristo Rey Richmond High School is a Catholic learning community that educates young people of limited economic means to become men and women of faith, purpose and service. Through a rigorous college preparatory curriculum, integrated with a relevant work study experience, students graduate ready to succeed in college and in life. We are part of the Cristo Rey Network of high schools, serving exclusively low-income youth throughout the country.

What it reported doing in 2024

All Cristo Rey schools incorporate a unique corporate work study program that prepares students from families of limited economic means for college and beyond. Payments from the Corporate Work Study partners partially offset the cost of the students' education. Though the Corporate Work Study Program is a separate 501(c)(3) entity that files a separate 990, all of the expenses related to both the academic program and the Corporate Work Study Program are incurred by the school. Major program expenditures include: - Salaries and benefits of both the academic faculty and administration and the Corporate Work Study staff- Student meal program that provides breakfast and lunch daily at no cost to the students- Student programs/supplies including computers, textbooks, uniforms, work study training, athletics/extracurricular activities- Facility improvements and maintenance- Transportation costs for students

Operating model

Revenue model
Donor-supported. 70% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 69
  • Accountability: 91
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.7%; rating input score 78
  • Program expense ratio: 81.1%; rating input score 81
  • Fundraising efficiency: $15.88 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 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: 4.6%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 3.29; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 9.6%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 25.4% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 17.2% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 27.5% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 77.7% of revenue deployed · 81.1% of spending went to programs
  • Governance: 14 of 14 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $5M in reported program spending
  • Leadership: top reported pay $170K · 21 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 53/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.