PEAK Academy Charter School

Nonprofit profile at a glance

EIN
842992064
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Asheville, NC, USA
Phone
8283335430
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$2,981,778
Expenses
$3,220,822
Assets
$779,006
Liabilities
$291,887

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

Leadership & pay

9 people listed

Highest reported compensation

  • Kidada Wynn (School Director): $105,754 total reported compensation

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

Overview

Mission

The operation of a public charter school for the education of children in the community.

What it reported doing in 2024

Operation of a public charter school for the education of children in the community.

Operating model

Revenue model
Grant-funded. 77% of the money available for current operations came from government grants.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.5%; rating input score 79
  • Program expense ratio: 73.6%; rating input score 74
  • 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: 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: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 3.3%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 34.4% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 29.7% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 79.5% of revenue deployed · 73.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $106K · 9 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.