Eagle Academy Public Charter School

Nonprofit profile at a glance

EIN
760718215
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Washington, DC, USA
Phone
2025442646
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$15,434,899
Expenses
$20,471,040
Assets
$27,102,792
Liabilities
$22,037,274

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • JOE SMITH (CHIEF EXECUTIVE OFFICER AND TRUSTEE (01/24 - 05/24)
  • SABRINA O'GILVIE (DEPUTY CHIEF EXECUTIVE OFFICER AND TRUSTEE (05/24))

Highest reported compensation

  • JOE SMITH (CHIEF EXECUTIVE OFFICER AND TRUSTEE (01/24 - 05/24): $313,337 total reported compensation
  • SABRINA O'GILVIE (DEPUTY CHIEF EXECUTIVE OFFICER AND TRUSTEE (05/24)): $226,738 total reported compensation
  • MAYRA MARTINEZ-FERNANDEZ (DEPUTY COO FRO ADVANCEMENT): $184,130 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

On august 20, 2024, the school's board of trustees (the board) voted to relinquish the school's charter and the school is currently going through dissolution. The school had suffered significant losses from operations due to declining enrollment. During the years ended june 30, 2024 and 2023, the school had losses of approximately $5.0 million and $1.4 million, respectively, as expenses continued to outpace revenue. Effective august 20, 2024, the school's basis of accounting changed to the liquidation basis of accounting.

What it reported doing in 2023

The school provides educational opportunities to poor and disadvantaged children from preschool to third grade in poverty impacted households and economically distressed communities in the district of columbia. The school seeks to develop a solid academic foundation for each student through an infusion of learning technology that all students and teachers use in the classroom.

Operating model

Revenue model
Earned-program. 76% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 70
  • Accountability: 100
  • Sustainability: 20
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.6%; rating input score 98
  • Program expense ratio: 73.6%; rating input score 74
  • Fundraising efficiency: $14.67 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -32.6%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 1.32; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 0.1% per year; rating input score 100; 13th percentile among comparable filings
  • Revenue growth: 3.3% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 7.2% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 97.6% of revenue deployed · 73.6% of spending went to programs
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $15.1M in reported program spending
  • Leadership: top reported pay $313K · 16 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.2M reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 3/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 49/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.