Miracle Meadows School Inc

Nonprofit profile at a glance

EIN
550687742
IRS 990 coverage
2019–2021
Forms available
Form 990 2021
Location
Hendersonville, NC, USA
Rating
40
Verdict
MIXED
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$106,077
Expenses
$55,051
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Sunith Das (Secretary/Executive Director)
  • Kingsley Whitsett (President)

Highest reported compensation

  • Sunith Das (Secretary/Executive Director): $28,000 total reported compensation
  • Millie Das (Director): $22,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

No school program was operated during the course of this year, since the school is closed. We maintained staff needed to caretake the campus until liquidation of the property/assets was completed. Property sale transpired in July, 2021. Closing of corporation has now been finalized.

What it reported doing in 2021

See above; school closed

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 44
  • Sustainability: 42
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: 60%; rating input score 60; 17th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 48.1%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 90.8%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 113.7% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: -75.4% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 3 of 5 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $28K · 5 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2019 to 2021
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.