Las Vegas Preparatory

Nonprofit profile at a glance

EIN
320511761
IRS 990 coverage
2018–2023
Forms available
Form 990 2023, Form 990-N 2016
Location
Las Vegas, NV, USA
Phone
7027469199
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$4,257,957
Expenses
$5,444,427
Assets
$15,502,436
Liabilities
$19,123,399

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • JOHN HAYNAL (EXECUTIVE DIRECTOR (BEGAN JULY 2023))
  • DAVID BLODGETT (EXECUTIVE DIRECTOR (LEFT JUNE 2023))
  • PAOLA GONZALEZ (PRESIDENT)

Highest reported compensation

  • JOHN HAYNAL (EXECUTIVE DIRECTOR (BEGAN JULY 2023)): $60,093 total reported compensation
  • DAVID BLODGETT (EXECUTIVE DIRECTOR (LEFT JUNE 2023)): $49,716 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

With a focus on academic achievement and leadership development, Nevada preparatory charter school educates every fourth through eighth grade student for success in high school, college and life.

What it reported doing in 2023

Las vegas prep operates a high quality public charter school that served approximately 296 students in grades 4-8 during the 2023-2024 school year.

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.

The verdict

STRONG - A large share of available resources goes toward mission work and most voting board members are independent. Expenses are high relative to revenue and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 66
  • Accountability: 100
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 82.6%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 64th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -27.9%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 2.85; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 1.23; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 75; 75th percentile among comparable filings

Growth

  • Program expense growth: 28.8% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 18.9% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 44.9% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 82.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4.5M in reported program spending
  • Leadership: top reported pay $60K · 10 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2018 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.