Philadelphia Academies Inc

Nonprofit profile at a glance

EIN
222442433
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2155466300
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Vocational, Technical Schools

Official website

Reported finances

Revenue
$3,512,012
Expenses
$3,563,285
Assets
$2,441,786
Liabilities
$740,052

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

Leadership & pay

16 people listed

Executive titles in this filing

  • F CHRISTOPHER GOINS (PRESIDENT &)

Highest reported compensation

  • F CHRISTOPHER GOINS (PRESIDENT &): $166,456 total reported compensation

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

Overview

Mission

Our mission is to be an innovative non-profit organization that works with students, educators, and partners to improve outcomes for philadelphia's young people.

What it reported doing in 2024

The philadelphia academies, inc. Has four memorial funds and one additional fund (five in total) from which it awards scholarships for post-secondary education to graduating seniors. The memorial funds are: the richard h. Delone memorial fund, the peter j. Merlino achievement award, the clinton gibson memorial scholarship, the justin w. Griffiths memorial scholarship. In addition, the benjamin franklin scholarship fund, a fund administered by the philadelphia foundation, is awarded to pai for distribution to eligible students/schools, the goal of which is to provide scholarships and classroom resources to: -(60% minimum) for pai students seeking post-secondary education in the trades, crafts and applied science fields. The scholarships will assist students who need financial aid to obtain post-secondary education. The award amounts vary per student. -(40% maximum): for pai programs to augment their teaching resources by the purchase of equipment, teaching materials, special supplies, etc. That would enhance the quality of education that they already provide in the trades, crafts and applied sciences.

Operating model

Revenue model
Grant-funded. 78% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 98% 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. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 73
  • Accountability: 95
  • Sustainability: 31
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.5%; rating input score 88
  • Program expense ratio: 86.2%; rating input score 86
  • Fundraising efficiency: $15.47 raised per $1 spent on fundraising; rating input score 52; 52nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.5%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.69; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 4.7%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -1.2% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -2.4% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -0.5% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 87.5% of revenue deployed · 86.2% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $3.1M in reported program spending
  • Leadership: top reported pay $166K · 16 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 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 — Financial Efficiency: Fundraising efficiency scored 52/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Schedule G fundraiser detail did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.