Lloyd Kennedy Charter School

Nonprofit profile at a glance

EIN
571121745
IRS 990 coverage
2011–2019
Forms available
Form 990 2019
Location
Aiken, SC, USA
Phone
8036444824
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Reported finances

Revenue
$841,628
Expenses
$961,003
Assets
$2,084,714
Liabilities
$2,630,452

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • STEPHANIE LOTT (PRESIDENT)
  • BRENDA LLOYD (VICE PRESIDENT)

Highest reported compensation

  • KEISHA LLOYD-KENNEDY (BOARD DESIGNEE): $77,350 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The lkcs was designed to attract parents searching for a smaller, nurturing academic environment for their children.

What it reported doing in 2019

The lkcs collaborates with stakeholders to promote educational progress among students regardless of their academic, social, and/or personal difficulties by focusing on their individual learning styles and developing the life skills they will need to be successful citizens. Although we were created to educate students who are academically, personally and/or socially at risk; our school is attractive to parents and students searching for a smaller, nurturing, academic environment. We define our "unique approach" as taking into account each student's background and setting individual benchmarks for their academic growth. Student enrollment is limited to ensure a smaller class size and a maximum teacher-student ratio of 1:12 due to the covid-19 pandemic and pratice mitigation health and safety standards in accordance with the scdhec ad cdc. Due to the pandemic the student population has declined to 56 students. As a small minority owned business greatly impacted by covid-19, the charter will close in june 2021.

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 - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 90
  • Accountability: 60
  • Sustainability: 31
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.3%; rating input score 75
  • Program expense ratio: 65.9%; rating input score 66
  • Fundraising efficiency: $1,594.75 raised per $1 spent on fundraising; rating input score 99; 99th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 83.3%; rating input score 83; 17th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -14.2%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 2.17; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 1.26; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 8%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 75.3% of revenue deployed · 65.9% of spending went to programs
  • Governance: 5 of 6 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $634K in reported program spending
  • Leadership: top reported pay $77K · 6 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules
  • Filing history: 9 filing years from 2011 to 2019
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

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 — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.