Elite Educational Group

Nonprofit profile at a glance

EIN
660799136
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Bayamon, PR, USA
Phone
7879649327
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Reported finances

Revenue
$918,600
Expenses
$997,077
Assets
$287,885
Liabilities
$387,874

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

Leadership & pay

4 people listed

Executive titles in this filing

  • YARITZA RIVERA COSME (VICE-PRESIDENT)
  • SANDRA M RIVERA RIVERA (PRESIDENT)

Highest reported compensation

  • YARITZA RIVERA COSME (VICE-PRESIDENT): $24,300 total reported compensation
  • JESUS M RIVERA RIVERA (DIRECTOR): $24,300 total reported compensation
  • SANDRA M RIVERA RIVERA (PRESIDENT): $21,804 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 work in harmony as a safe, firm, strict and fun learning community, which encourages the development of discipline, self-control, self-esteem and confidence, based on principles, values and quality of life.

What it reported doing in 2024

New Earth Music Academy (NEMA)-(Elite Educational Group, Corp), is a non-profit institution founded since 2007 by pastors and presidents Jesus and Yaritza Rivera. The school is governed by an Administrative Board composed of people representing our educational community and is certified as a Church-School by the Department of State of Puerto Rico; this ensures that our curriculum meets the standards of excellence of each degree and academic subject. Teaching staff comply with the corresponding certification from the Department of Education. In addition, the school is a member of the Puerto Rico Private Education Association.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 35
  • Sustainability: 18
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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: 20%; rating input score 20; 9th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -8.5%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.29; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 1.35; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: -1.7% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -6.4% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $997K in reported program spending
  • Leadership: top reported pay $24K · 4 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 4 filing years from 2021 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.

  • High — Accountability: Independent voting board scored 20/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.