Kerr Vance Academy Inc
Nonprofit profile at a glance
- EIN
- 566085497
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024
- Location
- Henderson, NC, USA
- Phone
- 2524920018
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,672,386
- Expenses
- $2,352,099
- Assets
- $1,293,548
- Liabilities
- $1,021,339
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- PAUL WILLIFORD (PRIOR PRESIDENT)
People named in this filing
- PAUL WILLIFORD (PRIOR PRESIDENT)
- CHUCK ODOM (SECRETARY)
- AMY REYNOLDS (TREASURER)
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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule o
What it reported doing in 2024
Salaries and related related expenses in the accomplishment of providing an education to the students enrolled in the school.
Operating model
- Revenue model
- Other-operating. 95% of the money available for current operations came from other operating 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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 90
- Accountability: 82
- Sustainability: 20
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 85.4%; rating input score 85
- 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: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -40.6%; rating input score 4; 4th percentile among comparable filings
- Total-asset coverage ratio: 0.55; rating input score 26; 26th percentile among comparable filings
- Liabilities to assets ratio: 0.79; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: -1.9% per year; rating input score 0; 13th percentile among comparable filings
- Revenue growth: -3.7% per year; rating input score 0; 6th percentile among comparable filings
- Asset growth: -4.9% per year; rating input score 0; 7th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 85.4% of spending went to programs
- Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $2M in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 25 of 25 current checks pass
- Schedules: 4 filed schedules
- Filing history: 12 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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.
- Review — Accountability: Governance controls: 2 of 6 not reported.
- High — Sustainability: Operating margin scored 4/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 26/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 9/100.