Polaris Charter Academy

Nonprofit profile at a glance

EIN
010874029
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
7735340820
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$6,028,539
Expenses
$6,506,454
Assets
$2,199,493
Liabilities
$85,730

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

Leadership & pay

20 people listed

Executive titles in this filing

  • MICHELLE NAVARRE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MICHELLE NAVARRE (EXECUTIVE DIRECTOR): $253,482 total reported compensation
  • FRANCESCA VERDECCHIA (PRINCIPAL): $155,597 total reported compensation
  • LISSETTE SANCHEZ (DIRECTOR OF FINANCE & OPERATIONS): $143,108 total reported compensation

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

Overview

Mission

To organize and operate a charter school in chicago, il and engage in other education activities permissable under section 501(c)(3) of the internal revenue code of 1986.

What it reported doing in 2024

Polaris charter academy is a k-8 school in the west humboldt park neighborhood of chicago. Polaris is a recognized leader in a rigorous and engaging approach to teaching and learning. As an el education credentialed mentor school, polaris students engage in learning expeditions that tie standards to meaningful work focused on finding complex solutions to real world problems around issues of social justice. Polaris charter academy has had a broad impact on national and international education. Polaris students have given the keynote address at both the el education national conference and the hewlett foundation's deeper learning conference. Teachers and administrators have presented their work both nationally and internationally to thousands of educators. Polaris is featured as an exemplary school model in paul tough's book helping children succeed, and polaris student work is featured in the harvard graduate school of education's online archive "models of excellence". Polaris charter academy is a level 1 school where 8th grade graduates successfully transition to top high schools around the city.

Operating model

Revenue model
Grant-funded. 90% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 71
  • Accountability: 94
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.9%; rating input score 92
  • Program expense ratio: 85.1%; rating input score 85
  • Fundraising efficiency: $20.47 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 21st percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.9%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.34; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 14.8%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 7.8% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 91.9% of revenue deployed · 85.1% of spending went to programs
  • Governance: 9 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $5.5M in reported program spending
  • Leadership: top reported pay $253K · 20 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 16/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.