Explorek12

Nonprofit profile at a glance

EIN
861867758
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Orange, CA, USA
Phone
9499948084
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$2,096,669
Expenses
$2,572,769
Assets
$594,876
Liabilities
$1,373,250

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

Leadership & pay

6 people listed

Executive titles in this filing

  • LAURA SCHOTTMAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LAURA SCHOTTMAN (EXECUTIVE DIRECTOR): $36,250 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 all students across orange county with a personalized educational experience through a network of countrywide curricular diversity and the power of student choice, allowing each student to create a personalized and engaging educational pathway in preparation for college.

What it reported doing in 2024

Explore academy, a tuition-free public charter elementary school serving grades transitional kindergarten (tk) through 8th. We provide a rigorous, college-preparatory education with a global focus. Our personalized approach empowers each student to forge their educational journey, with a wide range of electives. Enjoy smaller class sizes and experienced, credentialed teachers that set us apart from traditional public schools in the area. The 2024-25 school year was the first year of school operations serving approximately 126 students in grades tk-8.

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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 14
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.4%; rating input score 88
  • Program expense ratio: 72.1%; rating input score 72
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -22.7%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 2.31; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 1.4%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 139.1% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 181.1% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 35.8% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 88.4% of revenue deployed · 72.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $36K · 6 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2023 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.

  • High — Sustainability: Operating margin scored 6/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.