Friends School Inc

Nonprofit profile at a glance

EIN
611213141
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5028991822
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Kindergarten, Preschool, Nursery School, Early Admissions

Reported finances

Revenue
$2,594,884
Expenses
$2,974,649
Assets
$944,422
Liabilities
$346,602

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

Leadership & pay

8 people listed

Executive titles in this filing

  • JOHN DWYER (PRESIDENT)

People named in this filing

  • ANGIE BARTLEY (TREASURER)
  • DEREK COCKERMAN (BOARD MEMBER)
  • KIM HARTZ (SECRETARY)

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

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

Overview

Mission

The organiztion is a cooperative preschool and elementary school. The program emphasizes an inclusive population, which includes children with special needs. The program provides experiential child-centered eductational opportunities.

What it reported doing in 2024

Family cooperative childhood education program, provides a nurturing, caring and loving learning environment. The uniqueness of each child is valued. Tolerance, kindness and good citizenship are taught. Family involvement is required. Classes provide a low student-teacher ratio to meet individual needs. A highly individualised, developmentally appropriate programs is provided to teach the whole child.

Operating model

Revenue model
Earned-program. 96% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 84
  • Accountability: 54
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.1%; rating input score 86
  • Program expense ratio: 76%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 16th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -14.6%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 0.32; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 8.6% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 16.7% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 86.1% of revenue deployed · 76% of spending went to programs
  • Governance: 5 of 6 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.3M in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

Key Signals

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

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 10/100.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.