Patrick Henry Academy Inc

Nonprofit profile at a glance

EIN
570473017
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Estill, SC, USA
Phone
8036252440
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Reported finances

Revenue
$2,048,320
Expenses
$1,747,736
Assets
$3,209,628
Liabilities
$217,239

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

Leadership & pay

10 people listed

Executive titles in this filing

  • RUSSELL BULLARD (Vice President)
  • NASH ELLIOTT (President)

Highest reported compensation

  • BONNIE WILSON (DIRECTOR OF ADMINISTRATION): $63,000 total reported compensation

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

Overview

Mission

Patrick henry academy, inc. Is a college preparatory school which provides a safe, family-oriented atmosphere while guiding students to be contributing members of society.

What it reported doing in 2024

Provided for 2020-2021 school year including grades k3-12. Provided for the disadvantaged students using scholarship funds. Upgraded facilities.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 65
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.6%; rating input score 74
  • Program expense ratio: 88%; rating input score 88
  • Fundraising efficiency: $6.48 raised per $1 spent on fundraising; rating input score 24; 24th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 14.7%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 1.84; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 65; 65th percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 64; 64th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 73.6% of revenue deployed · 88% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $63K · 10 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 24/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.