Lawrence Academy Inc

Nonprofit profile at a glance

EIN
470946984
IRS 990 coverage
2012–2013
Forms available
Form 990 2013
Location
Florida City, FL, USA
Phone
3052474800
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Reported finances

Revenue
$1,040,730
Expenses
$1,090,562
Assets
$162,178
Liabilities
$28,568

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • KEITHA BURNETT (CEO/SCHOOL PRINCIPAL)

Highest reported compensation

  • KEITHA BURNETT (CEO/SCHOOL PRINCIPAL): $63,572 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the lawrence academy is to build character in tomorrow's leaders for elementary, middle and high school students by cultivating a rigorous and challenging academic environment infused with character building techniques through the collaborative support and effort of the school family and community.

What it reported doing in 2013

Lawrence academy schools continue to encourage student advancement and parental involvement activities such as family day, family night, parental workshops and parental booster clubs generate support for our students. Our students continue to do well on standardized state

Operating model

Revenue model
Grant-funded. 98% 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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 24
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.5%; rating input score 76
  • Program expense ratio: 73%; rating input score 73
  • 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; 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: -4.8%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.15; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -11.4% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -17.5% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 76.5% of revenue deployed · 73% of spending went to programs
  • Governance: 5 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $796K in reported program spending
  • Leadership: top reported pay $64K · 6 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2012 to 2013
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.
  • Review — Sustainability: Officer compensation ratio scored 54/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.