Elm City College Preparatory Inc C/o Achievement First Inc

Nonprofit profile at a glance

EIN
205196171
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New Haven, CT, USA
Phone
2037733223
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$14,023,846
Expenses
$15,264,361
Assets
$24,699,039
Liabilities
$2,417,199

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

Leadership & pay

10 people listed

Highest reported compensation

  • TANESHA B FORMAN (PRINCIPAL): $167,066 total reported compensation
  • JAY D FORMAN (TEACHER): $123,597 total reported compensation
  • RACHEL SIEGEL (DIRECTOR OF SCHOOL OPERATION): $114,013 total reported compensation

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

Overview

Mission

Elm city college preparatory, inc. Is an educational corporation established for the purpose of strengthening the academic and character skills needed for all students to excel in top tier colleges, to achieve success in a competitive world and to serve as the next generation of leaders in their communities.

What it reported doing in 2024

Academic programs for students in kindergarten through twelfth grade.

Operating model

Revenue model
Earned-program. 81% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.2%; rating input score 95
  • Program expense ratio: 87.4%; rating input score 87
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.8%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 1.62; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 3.3%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 0.1% per year; rating input score 100; 9th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 95.2% of revenue deployed · 87.4% of spending went to programs
  • Governance: 5 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $13.3M in reported program spending
  • Leadership: top reported pay $167K · 10 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $1.3M reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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.

  • High — Sustainability: Operating margin scored 11/100.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.