Pitt Academy Inc

Nonprofit profile at a glance

EIN
237066205
IRS 990 coverage
2014–2023
Forms available
Form 990 2023
Location
Louisville, KY, USA
Phone
5029666979
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,604,695
Expenses
$1,603,965
Assets
$2,199,783
Liabilities
$77,969

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

Leadership & pay

12 people listed

Executive titles in this filing

  • JIM MCDONNELL (PRESIDENT)
  • RON HOHMANN (VICE PRESIDENT)

Highest reported compensation

  • RENEE DOTY (PRINCIPAL): $107,036 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Pitt academy provides a safe, supportive, innovative learning environment where children with a broad spectrum of learning and communication disabilities can reach their own academic, creative and social potential. Pitt strives to prepare each student to become independent and to live with as much success as possible in the least restrictive environment consistent with his/her intellectual and social developmental needs.

What it reported doing in 2023

To provide a school to educate mentally handicapped children.

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 89% 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. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 46
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.3%; rating input score 79
  • Program expense ratio: 79.6%; rating input score 80
  • Fundraising efficiency: $78.16 raised per $1 spent on fundraising; rating input score 84; 84th 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: 100%; rating input score 100; 76th 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass

Sustainability

  • Operating margin: 0%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 1.37; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 6.7%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 5.7% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: -0.8% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: -1.2% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 79.3% of revenue deployed · 79.6% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $107K · 12 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 9 filing years from 2014 to 2023
  • 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 — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.