Kaleidoscope Foundation Inc

Nonprofit profile at a glance

EIN
260586046
IRS 990 coverage
2011–2015
Forms available
Form 990 2015
Location
Mooresville, NC, USA
Phone
7042375300
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nonmonetary Support N.E.C.

Reported finances

Revenue
$110,886
Expenses
$360,552
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

14 people listed

Highest reported compensation

  • Chris Terrill (Board Member/Head of School - PLP): $151,105 total reported compensation
  • Kristen Sutek (Board Member/PLP Employee): $42,793 total reported compensation
  • Jamie Connotillo (Bookkeeper/Development Coordinator): $24,300 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Support the activities of Pine Lake Preparatory, a tax-exempt, public charter school.

What it reported doing in 2015

Donations to Pine Lake Preparatory for the capital campaign to build a new building to house the Schools science, technology, engineering and math STEM educatino as well as complete an athletics complex for the Schools football, baseball, soccer, softball, tennis and lacrosse teams.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 68.9%; rating input score 69
  • Fundraising efficiency: $0.99 raised per $1 spent on fundraising; rating input score 6; 6th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 4 of 9 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -225.2%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -72.7% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -25.2% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -41.7% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 68.9% of spending went to programs
  • Governance: 13 of 13 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $248K in reported program spending
  • Leadership: top reported pay $151K · 14 people listed
  • Highest-paid contractors: 1 contractor listed · $102K reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 8 filed schedules
  • Filing history: 5 filing years from 2011 to 2015
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Fundraising efficiency scored 6/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • 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.