Explore Academy Las Vegas

Nonprofit profile at a glance

EIN
832977509
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
North Las Vegas, NV, USA
Phone
7024836332
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$3,980,478
Expenses
$5,573,340
Assets
$25,118,931
Liabilities
$27,673,885

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

Leadership & pay

5 people listed

Executive titles in this filing

  • ABRAHAM GOMEZ (PRESIDENT)
  • ANGELA LIZADA (VICE PRESIDENT)

Highest reported compensation

  • ALEXANDRIA TAYLOR (PRINCIPAL): $126,345 total reported compensation

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

Overview

Mission

Explore academy will provide each student with a personalized educational experience through the power of student choice, allowing each student to create a unique educational pathway in preparation for a college future.

What it reported doing in 2024

The explore academy educational model is based on principles of strong core education and college readiness through the philosophy of academic choice. Their educational framework promotes student growth and responsibility while providing an individualized educational path for each student. They currently serve 320 students during 192 instructional days.the explore academy educational model is based on principles of strong core education and college readiness through the philosophy of academic choice.their educational framework promotes student growth and responsibility while providing an individualized educational path for each student.

Operating model

Revenue model
Grant-funded. 99% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.5%; rating input score 62
  • Program expense ratio: 43.9%; rating input score 44
  • 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: 80%; rating input score 80; 14th 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: NotApplicable
    • 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: -40%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 4.51; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 1.1; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 74; 74th percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 27.6% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 50.9% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 61.5% of revenue deployed · 43.9% of spending went to programs
  • Governance: 4 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $126K · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $145K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 4 filing years from 2021 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.

  • Moderate — Financial Efficiency: Program expense ratio scored 44/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.