Explore Schools Inc

Nonprofit profile at a glance

EIN
263282250
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Brooklyn, NY, USA
Phone
3478757194
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$4,608,735
Expenses
$4,170,826
Assets
$2,222,414
Liabilities
$775,482

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

Leadership & pay

14 people listed

Executive titles in this filing

  • KAREN FRANCOIS (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • KAREN FRANCOIS (CHIEF EXECUTIVE OFFICER): $343,999 total reported compensation
  • TRACY REBE-BOGULAVSKY (CHIEF OF SCHOOL): $266,907 total reported compensation
  • AWO BUSUMSI (MANAGING DIRECTOR OF SCHOOL): $249,580 total reported compensation

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

Overview

Mission

To provide strategic planning, board governance, financial oversight, human resources, and other management support to a network of k-8 charter schools in under-served communities that provide students with the academic skills and critical-thinking abilities they need to succeed in a college-preparatory high school.

What it reported doing in 2024

There are approximately 1,700 students enrolled in the network's educational corporation in brooklyn for the 2024-2025 academic year. To realize its mission, esi provides value-added support to schools within the network that provide student in underserved communities with access to high-quality public education.

Operating model

Revenue model
Earned-program. 99% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Total assets are small relative to annual expenses; liquid coverage is unknown and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 38
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.2%; rating input score 60
  • Program expense ratio: 66.9%; rating input score 67
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • 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; 63rd 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: 9.5%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 0.53; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 44.8%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 2.5% per year; rating input score 100; 25th percentile among comparable filings
  • Revenue growth: 4.6% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: -0.2% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 60.2% of revenue deployed · 66.9% of spending went to programs
  • Governance: 6 of 6 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.8M in reported program spending
  • Leadership: top reported pay $344K · 14 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 6 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: 8 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: Total-asset coverage ratio scored 19/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.