Louisiana Key Academy

Nonprofit profile at a glance

EIN
455616292
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Baton Rouge, LA, USA
Phone
2252981223
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$15,696,265
Expenses
$17,568,787
Assets
$5,248,352
Liabilities
$3,792,885

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • LAURA CASSIDY MD (PRESIDENT)

People named in this filing

  • KIM CARVER (DIRECTOR)
  • PATRICK HARRISON (DIRECTOR)
  • STEPHEN ST CYR (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide an evidence-based education for the 1 in 5 children with dyslexia in baton rouge and the surrounding areas. This is done by the operation of a charter school for children with dyslexia.

What it reported doing in 2024

Lka is a model and resource for the community to understand what dyslexia is and how common it is so that children are identified at an early age and given the appropriate remediation. Lka operates a charter school for children with dyslexia.

Operating model

Revenue model
Grant-funded. 87% 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 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: 81
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 20
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.9%; rating input score 87
  • Program expense ratio: 77.7%; rating input score 78
  • Fundraising efficiency: $22.86 raised per $1 spent on fundraising; rating input score 60; 60th 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.9%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.3; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.72; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 17.6% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 16.8% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 11.2% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 86.9% of revenue deployed · 77.7% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $13.6M in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.