Prime Educational Solutions

Nonprofit profile at a glance

EIN
851177591
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Temecula, CA, USA
Phone
8662774632
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nonmonetary Support N.E.C.

Reported finances

Revenue
$3,882,718
Expenses
$2,814,022
Assets
$2,941,439
Liabilities
$43,302

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

Leadership & pay

5 people listed

Executive titles in this filing

  • TONY JACOB (PRESIDENT)
  • DANIEL JACOB (VICE PRESIDENT)
  • CATHERINE HEREDIA (CEO)

Highest reported compensation

  • CATHERINE HEREDIA (CEO): $305,052 total reported compensation
  • TRACY HASPER (CPO): $250,070 total reported compensation
  • ADAM WOODARD (CFO): $228,375 total reported compensation

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

Overview

Mission

Provides administrative support services to elite academic academy charter schools.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 77
  • Accountability: 95
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.1%; rating input score 58
  • Program expense ratio: 80.1%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: 27.5%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 1.05; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 27.9%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 5.6% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 15.3% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 64% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 58.1% of revenue deployed · 80.1% of spending went to programs
  • Governance: 2 of 2 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.3M in reported program spending
  • Leadership: top reported pay $305K · 5 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $489K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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 58/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.