Kingsway Learning Center

Nonprofit profile at a glance

EIN
222126371
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Moorestown, NJ, USA
Phone
8565450800
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Specialized Education Institutions

Reported finances

Revenue
$19,543,263
Expenses
$19,460,623
Assets
$14,213,615
Liabilities
$11,687,356

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

Leadership & pay

17 people listed

Executive titles in this filing

  • RACHEL CHAN (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • RACHEL CHAN (CHIEF EXECUTIVE OFFICER): $201,417 total reported compensation
  • MEGAN OLSEN (PRINCIPAL): $173,050 total reported compensation
  • LISA CATALDO (CONTROLLER): $164,830 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Kingsway learning center is a not-for-profit organization formed as a private school for students with disabilities. Kingsway provides an alternative educational environment designed specifically for the academic, therapeutic, social, and emotional development of students with multiple disabilities.

What it reported doing in 2024

Educational programs: kingsway offers a full-day preschool program for children ages 3 to 5 presenting with learning, communication, sensory, fine or gross motor, behavioral and/or medical challenges. Our program embraces play-based learning in a nurturing, fun, and safe environment. Our highly qualified team is committed to working with each child to address individual educational and therapeutic goals while encouraging self-initiated exploration.the elementary program addresses the needs of students age 5-14 who present with an array of developmental and learning challenges. With a comprehensive focus on functional communication, self-help skills, positive behavior, and community participation, the elementary program addresses individual needs and abilities in the context of a dynamic, integrated model. The secondary program was developed in direct response to the need for improved transition programming for students with multiple disabilities between the ages of 14 and 21. To meet those needs, a comprehensive array of academic and therapeutic services are provided, which facilitate each student's successful transition to an active post-secondary life.

Operating model

Revenue model
Earned-program. 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.8%; rating input score 91
  • Program expense ratio: 91.3%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.4%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.73; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.82; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 3.8%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 7.4% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 6.8% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 90.8% of revenue deployed · 91.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $17.8M in reported program spending
  • Leadership: top reported pay $201K · 17 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.