Hope Academy of Charlotte Inc

Nonprofit profile at a glance

EIN
452256402
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2011
Location
Concord, NC, USA
Phone
7049992436
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools
Affiliation
Christianity

Reported finances

Revenue
$3,444,126
Expenses
$2,548,645
Assets
$5,972,577
Liabilities
$1,660,709

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Paul Elliott (President)
  • Matt Diamond (Vice President)

Highest reported compensation

  • Courtney Elliott (Head of School): $114,497 total reported compensation
  • John Cooper (Treasurer): $1,800 total reported compensation

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

Overview

Mission

Christ-centered, college preparatory, academic program.

What it reported doing in 2024

HOPE Academy students courageously develop their Christ-like identity, cultivate their unique gifts, and engage as active learners within an authentic community. During this reporting period, 278 students benefited.

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 88% 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. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 66
  • Accountability: 71
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.5%; rating input score 68
  • Program expense ratio: 91.3%; rating input score 91
  • Fundraising efficiency: $18.15 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 7.2%; rating input score 7; 12th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 17th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: 26%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 2.34; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 16.6% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 17.7% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 25.7% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 67.5% of revenue deployed · 91.3% of spending went to programs
  • Governance: 6 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.3M in reported program spending
  • Leadership: top reported pay $114K · 7 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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 — Transparency & Controls: Grant itemization coverage scored 7/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.