Freedom Academy Charter School

Nonprofit profile at a glance

EIN
461387160
IRS 990-EZ coverage
2014–2014
Forms available
Form 990-EZ 2014
Location
Minneapolis, MN, USA
Phone
6513616600
Rating
39
Verdict
REVIEW
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$155,230
Expenses
$156,424
Assets
$13,816
Liabilities
$4,910

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • TONI WILCOX (EXECUTIVE DIRECTOR)

People named in this filing

  • TIM DUECK (CHAIR)
  • JEFF SNICALE (VICE CHAIR)
  • BRUCE CHARPIE (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

At freedom academy we strive to cultivate the conditions and environment that will serve as a foundation for future learning and success in life through application of four pillars of research-based innovations: community, curriculum, calendar and character.

What it reported doing in 2014

Freedom academy is focused on preparing young learners for a lifetime of learning and establishing a firm foundation that will serve them well into their future academic and vocational careers. Measuring our performance against this goal will take decades. In the interim, we look to a few key performance indicators that will help us understand where we are relative to where we need to be on this journey.our initial goals are to ensure kids are proficient in reading and are firmly on their way to transition from learning to read, to reading to learn. In the last few years, less than 15% of the public school elementary students in the neighborhoods of hawthorne, cleveland, willard-hay, jordan and mckinley read at grade level standards. We hope to improve on that number in our first year of operation.district-wide in minneapolis, about 50% of elementary students read at grade level. Our second year goal is to meet or exceed this level, producing students with at least as good a chance at future success as the district at large. Our ultimate goal is to ensure that at least 80% of our students move onto the next grade performing at acceptable levels.

Operating model

Revenue model
Donor-supported. 100% 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.

The verdict

REVIEW - The filed numbers largely add up. 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: 11
  • Transparency & Controls: 82
  • Sustainability: 20
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 11.2%; rating input score 11
  • Program expense ratio: 11.2%; rating input score 11

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -0.8%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.09; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 41.6%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 11.2% of revenue deployed · 11.2% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $17K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • 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 — Financial Efficiency: Mission deployment rate scored 11/100.
  • High — Financial Efficiency: Program expense ratio scored 11/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.