Falmouth Academy Inc

Nonprofit profile at a glance

EIN
042620156
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Falmouth, MA, USA
Phone
5084579696
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Secondary, High School

Reported finances

Revenue
$9,442,474
Expenses
$8,636,688
Assets
$26,249,648
Liabilities
$1,946,307

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

Leadership & pay

22 people listed

Highest reported compensation

  • DAVID PERRY (HEAD OF SCHOOL (AS OF 7/1/24)): $184,900 total reported compensation
  • CARMEN DISANTO (DIR. OF FINANCE AND OPERAT): $163,141 total reported compensation
  • MATTHEW GREEN (FORMER HEAD OF SCHOOL (THRU 6/30/24)): $160,085 total reported compensation

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

Overview

Mission

Harnessing the power of inspired learning in a world-renowned scientific and vibrant artistic community, falmouth academy emboldens each student to take creative and intellectual risks to confidently engage the challenges of our times.

What it reported doing in 2024

Falmouth academy offers a summer program for students of all ages and skill levels involving activities in the arts, science and robotics, athletics, languages and outdoor activities. The courses usually last a week and run for six weeks from late june 2024 - august 2024.

Operating model

Revenue model
Earned-program. 78% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 75% for direct work, and 25% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 75
  • Accountability: 92
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.4%; rating input score 68
  • Program expense ratio: 72.4%; rating input score 72
  • Fundraising efficiency: $2.93 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 95%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.5%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 3.04; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 68.4% of revenue deployed · 72.4% of spending went to programs
  • Governance: 19 of 20 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $6.3M in reported program spending
  • Leadership: top reported pay $185K · 22 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $160K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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 — Financial Efficiency: Fundraising efficiency scored 8/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.