Learning Express Academy Inc

Nonprofit profile at a glance

EIN
203987670
IRS 990 coverage
2015–2021
Forms available
Form 990 2021
Location
Newark, DE, USA
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$631,365
Expenses
$650,069
Assets
$39,014
Liabilities
$220,920

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

1 person listed

Executive titles in this filing

  • JENNIFER VALENTINE (PRESIDENT)

Highest reported compensation

  • JENNIFER VALENTINE (PRESIDENT): $8,650 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Education-elementary age school

Operating model

Revenue model
Earned-program. 90% 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. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 100
  • Accountability: 84
  • Sustainability: 17
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail

Sustainability

  • Operating margin: -3%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 0.06; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 5.66; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 0.8% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: -1.1% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -10.5% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $650K in reported program spending
  • Leadership: top reported pay $9K · 1 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 7 filing years from 2015 to 2021
  • 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.

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

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.