Park Street School Inc

Nonprofit profile at a glance

EIN
043488022
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6175237577
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Kindergarten, Preschool, Nursery School, Early Admissions
Affiliation
Christianity

Official website

Reported finances

Revenue
$11,540,646
Expenses
$9,114,405
Assets
$27,825,031
Liabilities
$8,615,969

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

Leadership & pay

17 people listed

Executive titles in this filing

  • HEATHER MORRISSEY (PRESIDENT)
  • JOSE FLOREZ (VICE-PRESIDENT)

Highest reported compensation

  • TRACY BRADLEY (TRUSTEE AND HEAD OF SCHOOL): $298,191 total reported compensation
  • HELEN TELFER (DIRECTOR OF FINANCE (TO 11/24)): $149,322 total reported compensation
  • KARA CLARK (BUSINESS MANAGER): $118,050 total reported compensation

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

Overview

Mission

To offer a christian-based set of programs and services for preschool and elementary school aged children which includes an educational curriculum and recreational activities to aid in the intellectual, social, physical, emotional and spiritual growth of students.

What it reported doing in 2024

A neighborhood school that seeks to unite children of diverse racial, ethnic, and economic backgrounds from greater boston in a nurturing school of the highest academic standards. Through an engaging, content-rich curriculum, we strive to empower and equip each child with a love of learning, a passion for truth, a heart for others, and an understanding of god's love and grace for us in jesus christ. During the 2024-2025 academic year the school had 222 preschool and elementary school ages students.

Operating model

Revenue model
Earned-program. 72% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 69% for direct work, and 31% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 79
  • Accountability: 80
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.6%; rating input score 52
  • Program expense ratio: 68.4%; rating input score 68
  • Fundraising efficiency: $5.51 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 24th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 3.05; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 51.6% of revenue deployed · 68.4% of spending went to programs
  • Governance: 11 of 12 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6.2M in reported program spending
  • Leadership: top reported pay $298K · 17 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $121K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 12 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • High — Financial Efficiency: Fundraising efficiency scored 22/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 26/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.