Main Street Preparatory Academy Inc
Nonprofit profile at a glance
- EIN
- 462087498
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Akron, OH, USA
- Phone
- 3305150572
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Elementary, Secondary Education, K - 12
Reported finances
- Revenue
- $1,607,992
- Expenses
- $1,738,291
- Assets
- $916,691
- Liabilities
- $1,670,896
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- Jim George (Board President)
Highest reported compensation
- Jim George (Board President): $875 total reported compensation
- Don Cureton (Board Treasurer): $875 total reported compensation
- Justin Pardi (Board Secretary): $875 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Main Street Preparatory Academy is dedicated to improving the lives of its students by providing authentic learning experiences in a collaborative, nurturing environment that will build a foundation for students success in school, at future work, and in life. To achieve the mission, our School will integrate current learning technologies into the classroom, offer authentic learning experiences that are respectful of how children learn best, and offer a schedule and support activities that enable each student to achieve to his or her potential. We want our students to leave the School with the skills and abilities necessary to achieve academic excellence, personal growth, and success as lifelong learners. This mission requires the support of the faculty, staff, families, and community in order to encourage and empower students to be responsible and valued citizens.
What it reported doing in 2024
School will integrate current learning technologies into the classroom, offer authentic learning experiences that are respectful of how children learn best, and offer a schedule and support activities that enable each student to achieve to his or her potential. We want our students to leave the School with the skills and abilities necessary to achieve academic excellence, personal growth, and success as lifelong learners. This mission requires the support of the faculty, staff, families, and community in order to encourage and empower students to be responsible and valued citizens.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- 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. Program spending has declined or grown slowly and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 90
- Accountability: 91
- Sustainability: 24
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 94.4%; rating input score 94
- 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: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -8.1%; rating input score 19; 19th percentile among comparable filings
- Total-asset coverage ratio: 0.53; rating input score 25; 25th percentile among comparable filings
- Liabilities to assets ratio: 1.82; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 0.2%; rating input score 61; 61st percentile among comparable filings
Growth
- Program expense growth: -1% per year; rating input score 0; 15th percentile among comparable filings
- Revenue growth: 2% per year; rating input score 100; 25th percentile among comparable filings
- Asset growth: 0.4% per year; rating input score 100; 19th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 94.4% of spending went to programs
- Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.6M in reported program spending
- Leadership: top reported pay $875 · 5 people listed
- Highest-paid contractors: 2 contractors listed · $1.2M reported
- Consistency: 27 of 27 current checks pass
- Schedules: 4 filed schedules
- Filing history: 11 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 5 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.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Operating margin scored 19/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Total-asset coverage ratio scored 25/100.
- High — Sustainability: Liabilities to assets ratio scored 2/100.