Initiative for Independent Sch in Pr Inc

Nonprofit profile at a glance

EIN
660725543
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Aguadilla, PR, USA
Phone
7878900339
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Kindergarten, Preschool, Nursery School, Early Admissions

Reported finances

Revenue
$485,677
Expenses
$473,559
Assets
$100,040
Liabilities
$4,780

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

Leadership & pay

4 people listed

Executive titles in this filing

  • ERICA MULCHAY (PRESIDENT)
  • Arlennee Moral (VICE PRESIDENT)

Highest reported compensation

  • Arlennee Moral (VICE PRESIDENT): $25,513 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 offer several programs inspired by the Waldorf pedagogy system to ensure a correct learning process for our children

What it reported doing in 2024

Education Services

Operating model

Revenue model
Earned-program. 93% 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

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.5%; rating input score 79
  • Program expense ratio: 80.6%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.5%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 5.4%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 12.3% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 10.1% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 78.5% of revenue deployed · 80.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $381K in reported program spending
  • Leadership: top reported pay $26K · 4 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.