Independence Preparatory Academy

Legal name: Independence Schools of Alabama

Nonprofit profile at a glance

EIN
921734073
IRS 990 coverage
2022–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Fairfield, AL, US
Phone
205-898-7505
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$937,256
Expenses
$1,090,357
Assets
$274,685
Liabilities
$200,000

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

Leadership & pay

1 person listed

People named in this filing

  • Calandra Sales (Director)

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

We are on a mission to equip all students with the academic tenacity and strength of character to choose their destiny and create a fulfilling life.

What it reported doing in 2024

To obtain unanimous approval from the Alabama Public Charter school permission

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 19
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.5%; rating input score 64
  • Program expense ratio: 55.3%; rating input score 55
  • 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -16.3%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.25; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.73; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 100.1% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 39.5% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: -21.5% per year; rating input score 0; 1st percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 2 operating locations identified
  • Where the money goes: 64.5% of revenue deployed · 55.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $603K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.