Halifax Academy a Christian School

Nonprofit profile at a glance

EIN
560937179
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Roanoke Rapids, NC, USA
Phone
2525378527
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12
Affiliation
Christianity

Reported finances

Revenue
$2,853,310
Expenses
$2,369,163
Assets
$3,099,701
Liabilities
$207,455

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

Leadership & pay

14 people listed

Highest reported compensation

  • MICHAEL FERGUSON (Head of School): $92,564 total reported compensation

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

Overview

Mission

Education of students.

What it reported doing in 2024

Halifax Academy is a private Christian School that teaches From Pre-K thru the 12th grade. Student enrollment was at 324 for the 2024-2025 school year.

Operating model

Revenue model
Earned-program. 84% 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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 90
  • Accountability: 16
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.8%; rating input score 81
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 17%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 1.31; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 3.9%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 2.4% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 80.8% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 14 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $93K · 14 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 13 filing years from 2011 to 2024
  • 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 — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.