Fiat Classical Academy Inc

Nonprofit profile at a glance

EIN
922362522
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Lawrenceburg, IN, USA
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Secondary, High School
Affiliation
Christianity

Official website

Reported finances

Revenue
$418,197
Expenses
$288,751
Assets
$180,182
Liabilities
$3,375

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Brad Macke (President)

Highest reported compensation

  • Brad Macke (President): $68,250 total reported compensation

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

Overview

Mission

Our mission is to assist parents in forming young men and women into who God created them to be. This involves the formation of the entire human person including growing in wisdom, virtue and holiness, both body and soul, through a high school education in the Catholic intellectual tradition.

What it reported doing in 2024

Fiat Classical Academy successfully held our inaugural academic year for 2024-2025. We offer a high school level program serving grades 9 and 10 in our first year, which will be expanding until we are offering all four high school grades 9-12. We had 13 students from Indiana and Ohio. Our mission is to assist parents in forming young men and women into who God created them to be. This involves the formation of the entire human person including growing in wisdom, virtue and holiness, both body and soul. One very unique way we do this is through our Adamello Days, where administrators and faculty lead students on formational days outside of the classroom twice a month in one of the four areas: 1) outdoor adventure 2) works of mercy 3) delighting in the fine arts or 4) craftsmanship. Our overall curriculum for grades 9 and 10 in this first year included courses in these areas: theology, history, literature and composition, Latin, math, science, fine arts, physical education, and logic.

Operating model

Revenue model
Donor-supported. 76% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 54
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.2%; rating input score 47
  • Program expense ratio: 68.4%; rating input score 68
  • Fundraising efficiency: $7.4 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 31%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 0.62; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 23.6%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 117.8% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 110.5% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 47.2% of revenue deployed · 68.4% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $198K in reported program spending
  • Leadership: top reported pay $68K · 7 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 47/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.