Penfield Montessori Academy Inc

Nonprofit profile at a glance

EIN
473685752
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-N 2015
Location
Milwaukee, WI, USA
Phone
4143447676
Rating
36
Verdict
REVIEW
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$48,814
Expenses
$2,525
Assets
$0
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • POLINA MAKIEVSKY (CEO/PRESIDENT)

Highest reported compensation

  • POLINA MAKIEVSKY (CEO/PRESIDENT): $193,247 total reported compensation

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

Overview

Mission

Penfield montessori academy is a fully-inclusive public uw-milwaukee charter montessori school for children of all abilities. Our mission is to provide a rich and challenging environment which allows students to realize their fullest potential academically, emotionally, and socially.

What it reported doing in 2024

During fiscal year 2024, penfield montessori academy (pma) ceased operations following its closure at the end of june 2023. The primary focus for the fiscal year was on the orderly dissolution of the school and associated legal and financial responsibilities.all employees were formally laid off by the end of july 2023, and no new educational programming or student services took place during fy24. The organization initiated and carried out dissolution procedures, which included the sale of the school building held under a separate llc. These actions were overseen in compliance with regulatory and legal requirements.an independent consolidated financial audit was completed through december 2023 to ensure proper accounting of any final transactions. The audit recognized a small number of outstanding revenues and expenses related to the prior year's operations, including final vendor payments, professional service fees, and the receipt of closing grants or reimbursements.overall, fy24 was dedicated to responsible financial and organizational closure, and no new programming, staffing, or enrollment activities were conducted. Action would be to close at the end of the 2022-2023 school year,

Operating model

Revenue model
Investment-supported. 99% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 78
  • Sustainability: 47
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 25th 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: Pass
    • 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: 94.8%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -8.2% per year; rating input score 0; 32nd percentile among comparable filings
  • Revenue growth: -14.5% per year; rating input score 0; 25th percentile among comparable filings
  • Asset growth: -10.1% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 4 of 5 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3K in reported program spending
  • Leadership: top reported pay $193K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 filed related-organization links
  • 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: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.