Indiana College Preparatory School Inc

Nonprofit profile at a glance

EIN
472438884
IRS 990 coverage
2015–2017
Forms available
Form 990 2017
Location
Indianapolis, IN, USA
Phone
3179145868
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Secondary, High School

Reported finances

Revenue
$2,358,450
Expenses
$3,059,033
Assets
$172,599
Liabilities
$1,806,560

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • NICOLE MCDONALD (BOARD PRESIDENT)

People named in this filing

  • NICOLE MCDONALD (BOARD PRESIDENT)
  • LONNIE TATE (BOARD TREASURER & VP)
  • MARGIE LAWYER-SMITH (BOARD SECRETARY)

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 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to prepare for a college preparatory high school that will ensure success and graduation from a four year college.

What it reported doing in 2017

The vision of ican schools is to create a culture of high expectations for behavior and academics through a rigorous research-based curricula and a focus on achievement. It is the goal that ics students will graduate from the eighth grade, attend a college preparatory high school and ultimately gain acceptance to and graduate from a four year college. It is our expectation that 100% of ican schools graduates will positively affect change in their local communities while making a contribution to our global society. During the 2017-2018 academic school year, approximately 200 students in grades kindergarten through eight were served.

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
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 a large share of available resources goes toward mission work. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 90
  • Accountability: 42
  • Sustainability: 13
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.6%; rating input score 78
  • Program expense ratio: 65.5%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -29.7%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.06; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 10.47; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 93; 93rd percentile among comparable filings

Growth

  • Program expense growth: -28.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -9.6% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -22.3% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 77.6% of revenue deployed · 65.5% of spending went to programs
  • Governance: 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Highest-paid contractors: 3 contractors listed · $500K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 2 filing years from 2015 to 2017
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.