Kato Public Charter School
Nonprofit profile at a glance
- EIN
- 411969573
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Mankato, MN, USA
- Phone
- 5073875524
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Secondary, High School
Reported finances
- Revenue
- $1,333,008
- Expenses
- $1,283,628
- Assets
- $475,437
- Liabilities
- $137,704
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- Mymique Baxter (Executive Director, Ex-Officio)
Highest reported compensation
- Mymique Baxter (Executive Director, Ex-Officio): $75,414 total reported compensation
- Matthew Nemitz (Treasurer/Teacher): $46,562 total reported compensation
- Kim Grabowski (Secretary/Teacher): $45,921 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 provide unique educational experiences that introduce students to real-world situations through experiential learning, community engagement, post-secondary educational opportunities, and learning agreements tailored to the individual needs of our students based on Minnesota graduation requirements.
What it reported doing in 2024
Kato Public Charter School continued serving over 80 students to include Summer and after school programming.
Operating model
- Revenue model
- Grant-funded. 100% 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 62
- Transparency & Controls: 92
- Accountability: 49
- Sustainability: 33
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 68.5%; rating input score 69
- Program expense ratio: 71.2%; rating input score 71
- Fundraising efficiency: Limited
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: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 28.6%; rating input score 29; 10th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 3.7%; rating input score 47; 47th percentile among comparable filings
- Total-asset coverage ratio: 0.37; rating input score 17; 17th percentile among comparable filings
- Liabilities to assets ratio: 0.29; rating input score 25; 25th percentile among comparable filings
- Officer compensation ratio: 16.1%; rating input score 21; 21st percentile among comparable filings
Growth
- Program expense growth: 0.9% per year; rating input score 100; 21st percentile among comparable filings
- Revenue growth: 3% per year; rating input score 100; 31st percentile among comparable filings
- Asset growth: -2.2% per year; rating input score 0; 11th percentile among comparable filings
Details
- Where the money goes: 68.5% of revenue deployed · 71.2% of spending went to programs
- Governance: 2 of 7 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $914K in reported program spending
- Leadership: top reported pay $75K · 6 people listed
- Highest-paid contractors: 2 contractors listed · $885K reported
- Consistency: 22 of 22 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 4 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Independent voting board scored 29/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 47/100.
- High — Sustainability: Total-asset coverage ratio scored 17/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 21/100.
- High — Sustainability: Liabilities to assets ratio scored 25/100.