Polaris Tech Charter School

Nonprofit profile at a glance

EIN
815150351
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Ridgeland, SC, USA
Phone
8436450605
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$8,383,909
Expenses
$7,568,759
Assets
$20,853,865
Liabilities
$19,065,753

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

Leadership & pay

13 people listed

Executive titles in this filing

  • KIM STATLER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KIM STATLER (EXECUTIVE DIRECTOR): $116,730 total reported compensation
  • BRANDY GRAY (DIR OF OPERATIONS & FINANCE): $82,551 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 unleash student potential and cultivate aspirations, where students are career-focused, college-ready and invest in the community it is polaris tech's intention to ensure that jasper county k-12 students acquire the 21st century knowledge, skills and experience to capitalize on jasper county's projected market and industry growth given its proximity to established technology, healthcare, aerospace, logistics and advanced manufacturing career and secondary educational opportunities

What it reported doing in 2024

To unleash student potential and cultivate aspirations, where students are career-focused, college-ready and invest in the community it is polaris tech's intention to ensure that jasper county k-12 students acquire the 21st century knowledge, skills and experience to capitalize on jasper county's projected market and industry growth given its proximity to established technology, healthcare, aerospace, logistics and advanced manufacturing career and secondary educational opportunities.

Operating model

Revenue model
Grant-funded. 97% 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.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 92
  • Accountability: 91
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.8%; rating input score 75
  • Program expense ratio: 82.6%; rating input score 83
  • Fundraising efficiency: Limited

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: Limited
  • 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 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.7%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 2.76; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 24.3% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 24.7% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 35.7% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 74.8% of revenue deployed · 82.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $6.2M in reported program spending
  • Leadership: top reported pay $117K · 13 people listed
  • Highest-paid contractors: 2 contractors listed · $1.4M reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.