Indiana Math & Science Academy - South Indianapolis Charter School Inc

Nonprofit profile at a glance

EIN
454992195
IRS 990 coverage
2015–2016
Forms available
Form 990 2016
Location
Indianapolis, IN, USA
Phone
3172597300
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Interdisciplinary Research

Reported finances

Revenue
$2,488,405
Expenses
$2,368,496
Assets
$206,296
Liabilities
$206,296

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • KENT MILLARD END 0617 (PRESIDENT)

People named in this filing

  • KENT MILLARD END 0617 (PRESIDENT)
  • MURAT DUNDAR (DIRECTOR)
  • BULENT GULER (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 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We foster an environment of inquiry and a love of learning so students are prepared to thrive in stem-focused high school, college, and the world.

What it reported doing in 2016

The organization provides 185 days of educational instruction to approximately 200 students in grades kindergarten through eight, with a focus on science, mathematics, and technology.

Operating model

Revenue model
Grant-funded. 85% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 39
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.8%; rating input score 79
  • Program expense ratio: 82.3%; rating input score 82
  • 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: 100%; rating input score 100; 64th 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: 4.8%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.09; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 93; 93rd percentile among comparable filings

Growth

  • Program expense growth: -15.5% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -6.1% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -72.2% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 78.8% of revenue deployed · 82.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Highest-paid contractors: 2 contractors listed · $368K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules
  • Filing history: 2 filing years from 2015 to 2016
  • Contacts: How to reach this organization
  • 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.

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

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.