Premier Prep Online

Nonprofit profile at a glance

EIN
873535360
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Gilbert, AZ, USA
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Reported finances

Revenue
$2,686,908
Expenses
$2,246,272
Assets
$839,838
Liabilities
$222,745

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Erik Gray (President)
  • Sarah Williams (Vice President)

Highest reported compensation

  • Erik Gray (President): $113,560 total reported compensation
  • Sarah Williams (Vice President): $113,560 total reported compensation

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

Overview

Mission

Premier Prep Online Academy equips talent-driven students through high quality education and personal development and prepares them with a foundation for life-long learning to be productive, engaged citizens.

Operating model

Revenue model
Grant-funded. 95% 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

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.8%; rating input score 57
  • Program expense ratio: 67.9%; rating input score 68
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.4%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 0.37; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 10.1%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 41.8% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 52% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 65.8% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 56.8% of revenue deployed · 67.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $114K · 5 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.