Glenwood Academy

Nonprofit profile at a glance

EIN
362167087
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Glenwood, IL, USA
Phone
7087565430
Rating
71
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$10,048,799
Expenses
$5,222,971
Assets
$101,707,272
Liabilities
$17,987,436

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

Leadership & pay

31 people listed

Executive titles in this filing

  • MARY HOLLIE (PRESIDENT & CEO THROUGH JAN 2026)
  • COLLEEN CARTER (CEO - AS OF SEP 2025)

Highest reported compensation

  • MARY HOLLIE (PRESIDENT & CEO THROUGH JAN 2026): $395,769 total reported compensation
  • COLLEEN CARTER (CEO - AS OF SEP 2025): $249,154 total reported compensation
  • CHARLES KUDIA (CFO): $188,428 total reported compensation

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

Overview

Mission

Glenwood academy eradicates poverty, injustice, and inequality through the power of residential education.

What it reported doing in 2024

Residential education 2-8 gradeto provide a high quality education and residential program for students from lower income and single-parent familites, who seek a positive alternative to home and community situations which impede opportunities to achieve their potential

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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 80
  • Accountability: 100
  • Sustainability: 80
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 42.7%; rating input score 43
  • Program expense ratio: 63.7%; rating input score 64
  • Fundraising efficiency: $8.75 raised per $1 spent on fundraising; rating input score 34; 34th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 48%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 19.47; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 62; 62nd percentile among comparable filings
  • Officer compensation ratio: 22.7%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: -7.4% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 0.7% per year; rating input score 100; 11th percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: 42.7% of revenue deployed · 63.7% of spending went to programs
  • Governance: 20 of 20 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.3M in reported program spending
  • Leadership: top reported pay $396K · 31 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $160K reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 8 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 43/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 34/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.