Immaculata Classical Academy Foundation Inc

Nonprofit profile at a glance

EIN
991237560
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5023653545
Rating
52
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$1,919,726
Expenses
$198,760
Assets
$1,764,121
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Dr Nicholas Kenney (President)

People named in this filing

  • Fr Martin Linebach (Director)
  • Brian Moss (Director)
  • Michael Michalak

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Immaculata Classical Academy Foundation, Inc. stewards contributions and provides financial support to the operations and priorities of Immaculata Classical Academy.

What it reported doing in 2024

The ICA Foundation provided grants to fund educational programs and operations of the school.

Operating model

Revenue model
Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 36
  • Transparency & Controls: 100
  • Accountability: 12
  • Sustainability: 94
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 9.7%; rating input score 10
  • Program expense ratio: 90.6%; rating input score 91
  • 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: 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: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 89.6%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 8.88; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 9.7% of revenue deployed · 90.6% of spending went to programs
  • Governance: 0 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $180K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 10/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.