Individual Education Plan Academy Inc

Nonprofit profile at a glance

EIN
814236838
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Kissimmee, FL, USA
Phone
4077295974
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Reported finances

Revenue
$23,862,483
Expenses
$22,667,758
Assets
$18,426,762
Liabilities
$9,276,601

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

Leadership & pay

2 people listed

Highest reported compensation

  • STEVEN WHITEACRE (DIRECTOR): $129,600 total reported compensation
  • PETE BALDWIN (DIRECTOR): $129,600 total reported compensation

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

Overview

Mission

Educational tuition plan

What it reported doing in 2024

Educational services

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
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

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87%; rating input score 87
  • Program expense ratio: 91.8%; rating input score 92
  • 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; 66th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0.81; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: 37.4% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 35.4% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 48.2% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 87% of revenue deployed · 91.8% of spending went to programs
  • Governance: 2 of 2 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $20.8M in reported program spending
  • Leadership: top reported pay $130K · 2 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.