Key Collegiate Charter School

Nonprofit profile at a glance

EIN
824747474
IRS 990 coverage
2017–2022
Forms available
Form 990 2022
Location
Brooklyn, NY, USA
Phone
6466044428
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Charter Schools

Reported finances

Revenue
$61,689
Expenses
$70,507
Assets
$1,310,452
Liabilities
$1,614

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

8 people listed

Highest reported compensation

  • RENISHA PIERRE (SCHOOL DIRECTOR): $170,909 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

At key collegiate, we believed that every student-regardless of socioeconomic background, race, zip code, or home language--could and would excel when provided with a rigorous, college preparatory education. To this end, we believed: 1) a rigorous, engaging curriculum with differentiated supports reaches all students 2) enhanced learning requires frequent data-driven assessment, analysis, and action 3) a literacy-intensive curriculum prepares students to become lifelong learners 4) a structured and joyful culture sets the foundation for student achievement 5) partnerships with families and the community create a united support system 6) focusing on the development of professional habits prepares students for college and career success 7) high-quality teaching produces strong academic gains and results

What it reported doing in 2022

Provided educational instruction to students in grades 4-8 in a safe, supportive, and intellectually engaging educational environment.special education - provided education to students with special needs.the school ceased operations on june 30, 2022

Operating model

Revenue model
Other-operating. 76% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 74
  • Accountability: 90
  • Sustainability: 49
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -14.3%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 18.59; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 242.4%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 9.7% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: -1.8% per year; rating input score 0; 57th percentile among comparable filings
  • Asset growth: 13.5% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $171K · 8 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $557K reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2017 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.