Plato Academy Incorporated

Nonprofit profile at a glance

EIN
364246600
IRS 990 coverage
2015–2023
Forms available
Form 990 2023, Form 990-EZ 2012
Location
Des Plaines, IL, USA
Phone
6304404739
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Reported finances

Revenue
$1,057,304
Expenses
$1,001,914
Assets
$2,046,644
Liabilities
$1,695,851

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

Leadership & pay

3 people listed

Highest reported compensation

  • MARIANTHI KORITSARIS (DIRECTOR): $33,000 total reported compensation

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

Overview

Mission

Elementary and religious education

What it reported doing in 2023

Provided elementary, religious, and cultural education to 52 students increasing the knowledge and awareness of their greek heritage, religion, and language.

Operating model

Revenue model
Earned-program. 74% of the money available for current operations came from fees and other program 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

MIXED - A large share of available resources goes toward mission work and program spending has grown recently. Some filing-based governance responses are negative or unanswered and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 47
  • Accountability: 58
  • Sustainability: 51
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.1%; rating input score 71
  • Program expense ratio: 75%; rating input score 75
  • 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: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.2%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 2.04; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 3.3%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 31.2% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 11.1% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 35.6% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 71.1% of revenue deployed · 75% of spending went to programs
  • Governance: 3 of 3 board members independent · 0 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $751K in reported program spending
  • Leadership: top reported pay $33K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 9 filing years from 2015 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.

  • High — Accountability: Governance controls: 7 of 7 not reported.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.