Grace Academy
Nonprofit profile at a glance
- EIN
- 271673012
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Hartford, CT, USA
- Phone
- 8602637535
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Elementary, Secondary Education, K - 12
- Affiliation
- Interfaith
Reported finances
- Revenue
- $2,268,586
- Expenses
- $1,476,273
- Assets
- $6,431,245
- Liabilities
- $615,213
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
27 people listed
Executive titles in this filing
- PRINCESS HYATT (EXECUTIVE DIRECTOR)
Highest reported compensation
- PRINCESS HYATT (EXECUTIVE DIRECTOR): $142,731 total reported compensation
- LINDSEY MCPHEE (CURRICULUM SPECIALIST & CO-FOUNDER): $24,673 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Grace academy is an independent, interfaith, tuition-free middle school where girls reach their fullest potential through equitable access to a nurturing learning environment. We cultivate confident learners who aspire to make meaningful contributions to their community, supporting them through high school, college, and beyond.
What it reported doing in 2024
Graduate support program: grace academy's goal is that all of its students successfully graduate from a selective, highly regarded, college preparatory high school, and continue on to post-secondary education so they are in the position to support themselves, their families, and help change their communities. The graduate support program helps facilitate a smooth and successful transition into private or competitive public charter/magnet schools by providing assistance with ssat prep classes, high school selection, application, registration, and financial aid counseling; monitoring academic progress through high school; offering support, in collaboration with high school counseling staff with college preparatory and placement activities; and maintaining ongoing contact with alumnae and organizing events that provide them with the opportunity to re-engage with grace academy and reunite with their peers.
Operating model
- Revenue model
- Donor-supported. 91% 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 a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 62
- Transparency & Controls: 92
- Accountability: 90
- Sustainability: 75
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 59.1%; rating input score 59
- Program expense ratio: 74.1%; rating input score 74
- Fundraising efficiency: $10.4 raised per $1 spent on fundraising; rating input score 39; 39th 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: 92%; rating input score 92; 22nd percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 34.9%; rating input score 87; 87th percentile among comparable filings
- Total-asset coverage ratio: 4.36; rating input score 81; 81st percentile among comparable filings
- Liabilities to assets ratio: 0.1; rating input score 59; 59th percentile among comparable filings
- Officer compensation ratio: 11.3%; rating input score 26; 26th percentile among comparable filings
Growth
- Program expense growth: 6.4% per year; rating input score 100; 47th percentile among comparable filings
- Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
- Asset growth: 16.1% per year; rating input score 100; 77th percentile among comparable filings
Details
- Where the money goes: 59.1% of revenue deployed · 74.1% of spending went to programs
- Governance: 23 of 25 board members independent · 7 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $1.1M in reported program spending
- Leadership: top reported pay $143K · 27 people listed
- Consistency: 33 of 33 current checks pass
- Schedules: 7 filed schedules · includes major donors
- Filing history: 9 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- Review — Financial Efficiency: Mission deployment rate scored 59/100.
- Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Officer compensation ratio scored 26/100.
- Review — Sustainability: Liabilities to assets ratio scored 59/100.