Practice Makes Perfect Inc

Nonprofit profile at a glance

EIN
383849473
IRS 990 coverage
2014–2015
Forms available
Form 990 2015, Form 990-EZ 2013
Location
New York, NY, USA
Phone
3476421368
Rating
68
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Youth Centers, Clubs

Official website

Reported finances

Revenue
$1,182,443
Expenses
$1,024,973
Assets
$477,203
Liabilities
$23,471

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • KARIM ABOUELNAGA (CEO/DIRECTOR)

Highest reported compensation

  • KARIM ABOUELNAGA (CEO/DIRECTOR): $96,613 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To redefine the summer learning

What it reported doing in 2015

The organization designs and operates summer enrichment program for students in underpriviledged areas of New York city. Struggling students(scholars) are paired with older higher achieving peers (mentor-scholars) all under the supervision of college interns (summer fellows)and certified teachers (site directors). Programs operate for six weeks within an established school setting and include an additional week of training and professional development for directors, fellows and mentors. There were 303 participants in the summer 2015 programs. Past participants are enrolled in such elite colleges as brown university, cornell university, etc.

Operating model

Revenue model
Donor-supported. 68% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 96% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 70
  • Accountability: 84
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.4%; rating input score 56
  • Program expense ratio: 65%; rating input score 65
  • Fundraising efficiency: $5.45 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 10th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 13.3%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 62; 62nd percentile among comparable filings
  • Officer compensation ratio: 9.4%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 95.8% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 78.7% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 73.3% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 56.4% of revenue deployed · 65% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $667K in reported program spending
  • Leadership: top reported pay $97K · 8 people listed
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2014 to 2015
  • Contacts: How to reach this organization
  • Money network: 3 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.

Key Signals

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

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 22/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.