Fayette Academy

Nonprofit profile at a glance

EIN
620726245
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Somerville, TN, USA
Phone
9014653241
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12
Affiliation
Christianity

Official website

Reported finances

Revenue
$7,140,373
Expenses
$6,496,116
Assets
$10,489,893
Liabilities
$7,455,675

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

Leadership & pay

16 people listed

Highest reported compensation

  • ROBERT AKINS (HEAD OF SCHOOL): $130,687 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 co-educational and extracurricular activities to students from pre-kindergarten to 12th grade.

Operating model

Revenue model
Earned-program. 85% 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. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.5%; rating input score 48
  • Program expense ratio: 52.4%; rating input score 52
  • Fundraising efficiency: $35.1 raised per $1 spent on fundraising; rating input score 72; 72nd percentile among comparable filings

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: 2 of 8 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 1.61; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.71; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 76; 76th percentile among comparable filings

Growth

  • Program expense growth: 0.1% per year; rating input score 100; 14th percentile among comparable filings
  • Revenue growth: 3.1% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 48.5% of revenue deployed · 52.4% of spending went to programs
  • Governance: 15 of 15 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.4M in reported program spending
  • Leadership: top reported pay $131K · 16 people listed
  • Highest-paid contractors: 2 contractors listed · $311K reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • Review — Financial Efficiency: Program expense ratio scored 52/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.