Northeast College Prep Charter School No 4219

Nonprofit profile at a glance

EIN
462577480
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6122488243
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$6,490,058
Expenses
$6,440,818
Assets
$2,780,729
Liabilities
$3,933,687

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Andrea Halverson (Executive Director)

Highest reported compensation

  • Andrea Halverson (Executive Director): $147,049 total reported compensation
  • Laura Pastor (Teacher Member): $93,563 total reported compensation

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

Overview

Mission

Northeast College Prep will ensure strong academic, social-emotional, and talent development in every member of its diverse student body, thereby positioning each student for college graduation, career success, and positive community impact.

What it reported doing in 2024

Northeast College Prep has strived to succeed as a proof-point that all students, regardless of background, flourish when a school's entire staff deeply believes in the potential and fully commits to the success of each and every one. The organization focuses on grades K-8. During fiscal year 2025, Northeast College Prep averaged 276 daily students.

Operating model

Revenue model
Grant-funded. 99% of the money available for current operations came from government grants.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

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

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.3%; rating input score 86
  • Program expense ratio: 86.9%; rating input score 87
  • 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: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 88.9%; rating input score 89; 20th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.8%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.43; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 1.41; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 7.7% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 86.3% of revenue deployed · 86.9% of spending went to programs
  • Governance: 8 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $5.6M in reported program spending
  • Leadership: top reported pay $147K · 10 people listed
  • Highest-paid contractors: 3 contractors listed · $962K reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and related organizations
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.