Our Lady of Mercy Preparatory Academy

Legal name: Our Lady of Mercy School of Madison Inc

Nonprofit profile at a glance

EIN
831029360
IRS 990 coverage
2018–2024
Official website data refreshed
Jul 2026
Forms available
Form 990 2024
Location
Madison, CT, US
Phone
203-689-5101
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$1,926,916
Expenses
$2,018,866
Assets
$26,310
Liabilities
$270,908

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JOHN PICARD (PRESIDENT)

People named in this filing

  • JOHN PICARD (PRESIDENT)
  • VLAD CORIC (BOARD MEMBER)
  • JAMES ENGELHART (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Our Lady of Mercy Preparatory Academy is a community dedicated to...

What it reported doing in 2024

Schooling - regular school year (september - june) providing education services to approximately 120 students

Operating model

Revenue model
Earned-program. 77% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 96% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 21
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98%; rating input score 98
  • Program expense ratio: 93.6%; rating input score 94
  • Fundraising efficiency: $35.99 raised per $1 spent on fundraising; rating input score 72; 72nd 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.8%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 10.3; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 5.4% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 2.7% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: -8% per year; rating input score 0; 4th percentile among comparable filings

Details

  • What they do: 3 programs and campaigns described on the official site · 2 operating locations identified
  • Where the money goes: 98% of revenue deployed · 93.6% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.