Meridian Academy Inc

Nonprofit profile at a glance

EIN
432024960
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Jamaica Plain, MA, USA
Phone
6172771118
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$3,832,096
Expenses
$3,911,275
Assets
$3,464,068
Liabilities
$2,769,696

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

Leadership & pay

9 people listed

Highest reported compensation

  • SARAH PARKER (TRUSTEE, HEAD OF SCHOOL): $129,455 total reported compensation
  • JOSH ABRAMS (TRUSTEE, FORMER HEAD OF SCHOOL): $97,110 total reported compensation

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

Overview

Mission

Our mission is to educate students from grades 6-12. Our curriculum incorporates the best practices from both progressive and traditional schooling, encouraging students to embrace the joys and challenges of lifelong learning and discovery.

What it reported doing in 2024

Educate students grades 6-12. Our curriculum incorporates the best practices from both progressive and traditional schooling, encourgaing students to embrace the joys and challenges of lifelong learning and discovery.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 55% for direct work, and 45% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 94
  • Accountability: 77
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.9%; rating input score 88
  • Program expense ratio: 86%; rating input score 86
  • 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 77.8%; rating input score 78; 14th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.1%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0.89; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.8; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 8.8% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 9.6% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 15.1% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 87.9% of revenue deployed · 86% of spending went to programs
  • Governance: 7 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.4M in reported program spending
  • Leadership: top reported pay $129K · 9 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • 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.

  • High — Sustainability: Operating margin scored 26/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.