East Academy Inc
Nonprofit profile at a glance
- EIN
- 462535566
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Cleveland, OH, USA
- Phone
- 2163831214
- Rating
- 85
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Primary, Elementary Schools
Reported finances
- Revenue
- $3,324,041
- Expenses
- $3,314,360
- Assets
- $1,188,745
- Liabilities
- $2,488,740
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- Carl Frey (Board President)
- Scott Norcross (Board Vice President)
Highest reported compensation
- Karl Sooy (Board Secretary): $750 total reported compensation
- Carl Frey (Board President): $625 total reported compensation
- Robert Marcis (Board Member): $625 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
"it is our mission to provide an effective, consistent, and academically rigorous education in a safe, disciplined, and nurturing environment. We will empower students to reach their fullest potential by implementing a comprehensive curriculum facilitated by a highly effective educators in collaboration with families in the community, and supported by progressive technology."
What it reported doing in 2024
Provided educational services to over 250 students.
Operating model
- Revenue model
- Donor-supported. 100% 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.
The verdict
STRONG - 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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 90
- Accountability: 91
- Sustainability: 30
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 97.1%; rating input score 97
- Program expense ratio: 97.4%; rating input score 97
- 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: Limited
- 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: 0.3%; rating input score 35; 35th percentile among comparable filings
- Total-asset coverage ratio: 0.36; rating input score 12; 12th percentile among comparable filings
- Liabilities to assets ratio: 2.09; rating input score 1; 1st percentile among comparable filings
- Officer compensation ratio: 0.1%; rating input score 83; 83rd percentile among comparable filings
Growth
- Program expense growth: 3.5% per year; rating input score 100; 31st percentile among comparable filings
- Revenue growth: 4.5% per year; rating input score 100; 38th percentile among comparable filings
- Asset growth: -10.8% per year; rating input score 0; 2nd percentile among comparable filings
Details
- Where the money goes: 97.1% of revenue deployed · 97.4% of spending went to programs
- Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $3.2M in reported program spending
- Leadership: top reported pay $750 · 5 people listed
- Highest-paid contractors: 1 contractor listed · $3.3M reported
- Consistency: 23 of 23 current checks pass
- Schedules: 4 filed schedules
- Filing history: 11 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- 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: 2 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 35/100.
- High — Sustainability: Total-asset coverage ratio scored 12/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 1/100.