New Horizons Charter Academy

Legal name: Dharma Educational Institute

Nonprofit profile at a glance

EIN
462168409
IRS 990 coverage
2013–2024
Official website data refreshed
Jun 2026
Forms available
Form 990 2024
Location
North Hollywood, CA, USA
Phone
8186559602
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.
Affiliation
Buddhism

Official website

Reported finances

Revenue
$3,411,300
Expenses
$4,191,629
Assets
$12,100,130
Liabilities
$10,783,041

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

Leadership & pay

9 people listed

Highest reported compensation

  • RICHARD THOMAS (EXECUTIVE DI): $288,471 total reported compensation

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

Overview

Mission

New Horizons Charter Academy (NHCA) believes every student is gifted, and provides all of their students with a rigourous and comprehensive, multi-disciplinary standards based instructional program in all content areas. NHCA values each one of their community members and will build on the cultural and linguistic background of each individual.

What it reported doing in 2024

The charter school currently serves 150 students in grades kindergarten through eight.

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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 70
  • Accountability: 95
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.7%; rating input score 95
  • Program expense ratio: 77.1%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -22.9%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 2.89; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 6.9%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: 8.7% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 27.6% per year; rating input score 100; 91st percentile among comparable filings

Details

  • What they do: Mission, programs, and operating context captured from the official website.
  • Where the money goes: 94.7% of revenue deployed · 77.1% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.2M in reported program spending
  • Leadership: top reported pay $288K · 9 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $1.9M reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • 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.

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 6/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.
  • Review — Grant Readiness: California registration: this organization could not be resolved against the register, so the check is unfinished.