Magna Prep

Nonprofit profile at a glance

EIN
815111029
IRS 990 coverage
2018–2020
Forms available
Form 990 2020
Location
Elkins Park, PA, USA
Phone
8885817737
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$304,292
Expenses
$272,660
Assets
$156,108
Liabilities
$108,719

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Antonieo Wright (Executive Director)

Highest reported compensation

  • Antonieo Wright (Executive Director): $128,871 total reported compensation
  • Marcus Allen (Board Member): $8,164 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provides before and after school programs and summer camp to assist youth in excelling academically

What it reported doing in 2020

Before and after school programs and summer camp to assist youth in excelling academically

Operating model

Revenue model
Earned-program. 100% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 81
  • Accountability: 26
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77%; rating input score 77
  • Program expense ratio: 85.9%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 7th 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: 0%; rating input score 0; 6th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10.4%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.57; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.7; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 50.3%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 9.9% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 10.1% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 119.9% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 77% of revenue deployed · 85.9% of spending went to programs
  • Governance: 0 of 4 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $234K in reported program spending
  • Leadership: top reported pay $129K · 4 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2018 to 2020
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.