Grand Concourse Academy Charter School
Nonprofit profile at a glance
- EIN
- 830396763
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Bronx, NY, USA
- Phone
- 7185901300
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Charter Schools
Reported finances
- Revenue
- $17,996,601
- Expenses
- $17,089,507
- Assets
- $58,811,617
- Liabilities
- $40,266,424
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Highest reported compensation
- IRA VICTOR (Executive Dir.): $520,648 total reported compensation
- MICHAEL SIMONETTI (SEN. DIR. OF BUSINESS AND OPERATION): $237,010 total reported compensation
- MAUREEN HOWARD (Assistant Principal): $211,028 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of the Grand Concourse Academy Charter School is to create a challenging learning environment that addresses and meets the needs of students in New York City, especially those at-risk of academic failure. In a concentrated effort to prepare our students for entry into the very best middle and high schools of New York City, the Academy will seek to foster a sense of strong character, ethics, and personal responsibility, as well as high expectations and academic success.The Academy will place a strong emphasis on Reading, Math, Science, and Social Studies, and will diligently seek to prepare students to meet and/or exceed NYS performance standards in ELA, Mathematics, Science and Social Studies. The Academy will support and encourage professional development opportunities aligned to the instructional program, and will diligently seek and encourage active parental involvement and participation in the academic goals of the students. In addition, the school will seek to involve
What it reported doing in 2024
Public education on a nondiscriminatory and secular basis.
Operating model
- Revenue model
- Earned-program. 82% 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 82
- Transparency & Controls: 70
- Accountability: 100
- Sustainability: 52
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 79%; rating input score 79
- Program expense ratio: 86.4%; rating input score 86
- Fundraising efficiency: $107.46 raised per $1 spent on fundraising; rating input score 85; 85th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- 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; 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: 5%; rating input score 54; 54th percentile among comparable filings
- Total-asset coverage ratio: 3.44; rating input score 78; 78th percentile among comparable filings
- Liabilities to assets ratio: 0.68; rating input score 18; 18th percentile among comparable filings
- Officer compensation ratio: 12.8%; rating input score 12; 12th percentile among comparable filings
Growth
- Program expense growth: 11.6% per year; rating input score 100; 76th percentile among comparable filings
- Revenue growth: 9.3% per year; rating input score 100; 71st percentile among comparable filings
- Asset growth: 21.4% per year; rating input score 100; 91st percentile among comparable filings
Details
- Where the money goes: 79% of revenue deployed · 86.4% of spending went to programs
- Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $14.8M in reported program spending
- Leadership: top reported pay $521K · 15 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $4.8M reported
- Consistency: 30 of 30 current checks pass
- Schedules: 9 filed schedules · includes major donors and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 10 filed money-flow records
- 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.
- Review — Sustainability: Operating margin scored 54/100.
- High — Sustainability: Officer compensation ratio scored 12/100.
- High — Sustainability: Liabilities to assets ratio scored 18/100.