Faith House Academy & Early Learning Center

Nonprofit profile at a glance

EIN
880994172
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Lorain, OH, USA
Phone
4409378155
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$1,013,540
Expenses
$741,670
Assets
$271,870
Liabilities
$0

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

Leadership & pay

2 people listed

Executive titles in this filing

  • AARON SLABY (PASTOR/CEO)

Highest reported compensation

  • AARON SLABY (PASTOR/CEO): $62,388 total reported compensation
  • YOLANDA SLABY (COO/FIRST LADY): $35,701 total reported compensation

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

Overview

Mission

Child care

Operating model

Revenue model
Other-operating. 75% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 91
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.2%; rating input score 73
  • 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: 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: 7 of 9 controls in place; rating input score 78
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 26.8%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 0.37; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 13.2%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 130.1% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 107.3% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 90% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 73.2% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $742K in reported program spending
  • Leadership: top reported pay $62K · 2 people listed
  • Consistency: 40 of 40 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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 — Sustainability: Total-asset coverage ratio scored 17/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 27/100.