Prestige Academy
Nonprofit profile at a glance
- EIN
- 743089849
- IRS 990 coverage
- 2009–2009
- Forms available
- Form 990 2009
- Location
- Minneapolis, MN, USA
- Phone
- 6124658121
- Rating confidence
- Limited
- Sector
- Charter Schools
Reported finances
- Revenue
- $1,194,186
- Expenses
- $1,155,533
- Assets
- $430,098
- Liabilities
- $340,978
Source: IRS Form 990. Selected filing: tax year 2009. Amounts in USD.
Leadership & pay
7 people listed
Source: IRS Form 990. Selected filing: tax year 2009. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Prestige Academy (formerly known as Ascension Academy) is a College Preparatory Charter High School authorized by Friends of Education, serving grades 9-12 college bound inner city students. Our mission is to teach a healthy respect for one's self and others, and their education. We encourage self discipline based on respect and responsibility, and the development of a sense of service and social justice within our multi-cultural community.
What it reported doing in 2009
Providing low-income youth with a core-knowledge, content based, classical academic high school education and support and sponsor related activities.
Operating model
- Revenue model
- Earned-program. 78% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 92
- Accountability: 62
- Sustainability: 37
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 60th 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: 50%; rating input score 50; 10th 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: Fail
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 3.2%; rating input score 58; 58th percentile among comparable filings
- Total-asset coverage ratio: 0.37; rating input score 21; 21st percentile among comparable filings
- Liabilities to assets ratio: 0.79; rating input score 16; 16th percentile among comparable filings
- Officer compensation ratio: 21%; rating input score 11; 11th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 3 of 6 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $898K in reported program spending
- Leadership: top reported pay $88K · 7 people listed
- Consistency: 31 of 31 current checks pass
- Schedules: 6 filed schedules · includes major donors
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
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 — Accountability: Independent voting board scored 50/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Total-asset coverage ratio scored 21/100.
- Review — Sustainability: Operating margin scored 58/100.
- High — Sustainability: Officer compensation ratio scored 11/100.
- High — Sustainability: Liabilities to assets ratio scored 16/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.