Our Lady of the Heart Basic Studies

Nonprofit profile at a glance

EIN
363939128
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Rockford, IL, USA
Phone
8153993021
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$1,806,691
Expenses
$1,425,692
Assets
$1,740,825
Liabilities
$2,178,725

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

Leadership & pay

3 people listed

Executive titles in this filing

  • LOUIS BAGEANIS (PRESIDENT)

People named in this filing

  • CLAIRE M BAGEANIS (SECRETARY)
  • LOUIS BAGEANIS (PRESIDENT)
  • TERRENCE J DOYLE (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

Provide a quality independent college - preparatory education for pre-k - 12 students

What it reported doing in 2024

Provide quality elementary and high school education for students

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
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 total spending goes to programs. A relatively small share of voting board members are independent and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 92
  • Accountability: 12
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.9%; rating input score 55
  • Program expense ratio: 69.6%; rating input score 70
  • Fundraising efficiency: $56.86 raised per $1 spent on fundraising; rating input score 80; 80th 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 21.1%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 1.22; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 1.25; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 16.6% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 20.1% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 17.7% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 54.9% of revenue deployed · 69.6% of spending went to programs
  • Governance: 0 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $993K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.