Payments Academy Inc

Nonprofit profile at a glance

EIN
872449047
IRS 990 coverage
2023–2023
Forms available
Form 990 2023, Form 990-N 2022
Location
Bloomington, IN, USA
Phone
2147703550
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$231,546
Expenses
$153,453
Assets
$106,404
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Ronald King (President)

People named in this filing

  • Ronald King (President)
  • Ruth Harpool (Secretary-Treasurer)
  • Theresa Mimms (Board Member)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of The Payments Academy is to provide education and support to colleges and universities in their operations that are supported by making and receiving payments from all sources. We fulfill this role through three programs: (1) Annual Conference, (2) Webinars, and (3) our Website.

What it reported doing in 2023

1. Annual Conference: May 7-10, 2023 - Indianapolis, Indiana. 125 personnel representing 100 colleges and universities in attendance. These practitioners shared their practices and accomplishments in support of their institutions' missions. Since colleges and universities can be compared to the commerce activities of a city they face enormous challenges in not only all the functions of making and receiving payments from hundreds of entities, but also in the security of those payments. In addition to university personnel, vendors in this space also give presentations on their supporting products and services.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 90
  • Accountability: 31
  • Sustainability: 67
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.3%; rating input score 66
  • Program expense ratio: 100%; rating input score 100
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 15th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 33.7%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 0.69; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 66.3% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $153K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 39 of 39 current checks pass
  • Schedules: 2 filed schedules
  • 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.

Key Signals

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

  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.