Harmel Academy of the Trades

Nonprofit profile at a glance

EIN
820916401
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Grand Rapids, MI, USA
Phone
6164852345
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Vocational, Technical Schools
Affiliation
Christianity

Official website

Reported finances

Revenue
$1,318,495
Expenses
$1,030,772
Assets
$905,630
Liabilities
$572,929

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

Leadership & pay

7 people listed

Executive titles in this filing

  • MICHAEL PRESTON (BOARD PRESIDENT)
  • DAVID MICHAEL PHELPS (PRESIDENT)

Highest reported compensation

  • DAVID MICHAEL PHELPS (PRESIDENT): $120,400 total reported compensation

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

Overview

Mission

Harmel academy of the trades is a post-secondary institution in Michigan where men become experts in skilled trade while growing in their catholic faith.

What it reported doing in 2024

Harmel academy of the trades provides post-secondary technical training in skilled trades. This is a tuition-based academy that is a residential catholic trade school for men.

Operating model

Revenue model
Donor-supported. 61% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 98% 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 - 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: 94
  • Accountability: 90
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.5%; rating input score 47
  • Program expense ratio: 60.7%; rating input score 61
  • Fundraising efficiency: $5.27 raised per $1 spent on fundraising; rating input score 19; 19th 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 19th percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21.8%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 0.88; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.63; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 11.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 11.6% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 12.8% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 17.2% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 47.5% of revenue deployed · 60.7% of spending went to programs
  • Governance: 5 of 6 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $626K in reported program spending
  • Leadership: top reported pay $120K · 7 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 47/100.
  • High — Financial Efficiency: Fundraising efficiency scored 19/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.