New Horizons Elementary School

Nonprofit profile at a glance

EIN
561380587
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Wilmington, NC, USA
Phone
9103925209
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,553,319
Expenses
$1,255,947
Assets
$1,601,670
Liabilities
$895,960

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

Leadership & pay

9 people listed

Highest reported compensation

  • Amanda Jacobs (School Director): $116,439 total reported compensation
  • Christina Satterfield (Board Member): $72,768 total reported compensation

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

Overview

Mission

Kindergarten through Grade 5 education.

What it reported doing in 2024

New Horizons limits its class size to 18-20 students per teacher. As such, it educated 112 students in 2024/25. New Horizons has developed a learning community that nurtures student achievement and personal development. Students are valued for their unique gifts and talents. By developing the whole child -- socially, emotionally, academically, and ethically -- the program seeks to fulfill its mission of developing leaders one child at a time.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.3%; rating input score 69
  • Program expense ratio: 85.5%; rating input score 85
  • Fundraising efficiency: $2.01 raised per $1 spent on fundraising; rating input score 6; 6th percentile among comparable filings

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: 77.8%; rating input score 78; 17th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 19.1%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 1.28; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.56; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 15.1%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 3% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 69.3% of revenue deployed · 85.5% of spending went to programs
  • Governance: 7 of 9 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $116K · 9 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 16 filing years from 2009 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 — Financial Efficiency: Fundraising efficiency scored 6/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.