Prestige Preparatory Academy

Nonprofit profile at a glance

EIN
475305409
IRS 990 coverage
2016–2017
Forms available
Form 990 2017
Location
North Charleston, SC, USA
Phone
8435296016
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$964,680
Expenses
$993,843
Assets
$37,553
Liabilities
$162,363

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • JOYCE COLEMAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JOYCE COLEMAN (EXECUTIVE DIRECTOR): $84,275 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Prestige preparatory academy provides boys with a world-class learning opportunity by creating a nurturing and innovative environment, developing the core values of scholarship, integrity, and brotherhood by preparing our boys for lives of leadership in a rapidly changing world.

What it reported doing in 2017

Ppa is the first all boy charter school on charleston county, sc. We service kindergarten- fifth grade, boys special needs and gifted boys; and 95% african american boys with limited resources as we strive for excellence. We received the channel 2 "cool school award" our 1st year.

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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 18
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.7%; rating input score 75
  • Program expense ratio: 72.5%; rating input score 73
  • Fundraising efficiency: $22.36 raised per $1 spent on fundraising; rating input score 65; 65th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -3%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 4.32; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 8.5%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: 19.4% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 17.8% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: -45% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 74.7% of revenue deployed · 72.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $721K in reported program spending
  • Leadership: top reported pay $84K · 8 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2016 to 2017
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.