Lago Vista Academy

Nonprofit profile at a glance

EIN
742903792
IRS 990 coverage
2011–2022
Forms available
Form 990 2022
Location
Lago Vista, TX, USA
Phone
5122671886
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$368,793
Expenses
$256,386
Assets
$0
Liabilities
$0

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

Leadership & pay

3 people listed

Highest reported compensation

  • Thelma Lopez (Headmistress/Director): $51,402 total reported compensation
  • Vicki Stewart (Director): $11,445 total reported compensation

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

Overview

Mission

Early Childhood Education in a semi-rural location.

What it reported doing in 2022

Education of approximately 60 students under the age of 13 years (pre-teen) in a semi-rural area, including full-day, pre-school, and after-school programs without bias.

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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 100
  • Accountability: 50
  • Sustainability: 41
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.2%; rating input score 69
  • Program expense ratio: 99.6%; rating input score 100
  • 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: 33.3%; rating input score 33; 15th 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: 30.5%; rating input score 83; 83rd 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: 24.5%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: -4.1% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: -6.3% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 69.2% of revenue deployed · 99.6% of spending went to programs
  • Governance: 1 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $255K in reported program spending
  • Leadership: top reported pay $51K · 3 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 12 filing years from 2011 to 2022
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.