Independent Schools Corporate Tax Fnd

Nonprofit profile at a glance

EIN
274662958
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Phoenix, AZ, USA
Phone
6023814542
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$577,076
Expenses
$922,290
Assets
$4,338,552
Liabilities
$2,829,100

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JENNIFER CHERILLA (PRESIDENT)

Highest reported compensation

  • ROZ ABERO (SECRETARY/TREASURER): $210,541 total reported compensation
  • JENNIFER CHERILLA (PRESIDENT): $137,114 total reported compensation
  • WENDY KYSER (DIRECTOR): $84,205 total reported compensation

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

Overview

Mission

To provide scholarships and grants for private school tuition to students attending private schools in Arizona.

What it reported doing in 2024

We provided scholarships and grants for private school tuition to 143 students in need who are attending private schools in Arizona.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 71
  • Accountability: 28
  • Sustainability: 33
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.3%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -59.8%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 4.7; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.65; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: -2.7% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -1.1% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 10.3% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.3% of spending went to programs
  • Governance: 0 of 3 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $906K in reported program spending
  • Leadership: top reported pay $211K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 5 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.