Holy Angels Academy

Nonprofit profile at a glance

EIN
610845326
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5022549440
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Reported finances

Revenue
$1,346,050
Expenses
$1,232,770
Assets
$3,474,251
Liabilities
$77,357

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

Leadership & pay

6 people listed

Highest reported compensation

  • Michael Swearingen (Headmaster): $73,500 total reported compensation
  • Terri Glotzbatch (2nd Grade Teacher): $45,612 total reported compensation

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

Overview

Mission

Holy Angels Academy provides a faith-based educational program focused on academic excellence, character formation, and spiritual growth, preparing students to become knowledgeable, ethical, and service-oriented individuals.

What it reported doing in 2024

During the year, Holy Angels Academy provided classroom instruction and student support services through the operation of a faith-based school. The Academy delivered academic programs and educational services to enrolled students, furthering its exempt purpose of education.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.2%; rating input score 91
  • Program expense ratio: 99.5%; 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • 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: 8.4%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 2.82; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 9.7%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 8.2% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 8.8% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 91.2% of revenue deployed · 99.5% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $74K · 6 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 8 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Review — Sustainability: Operating margin scored 58/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.