Profectus Learning Systems Inc

Nonprofit profile at a glance

EIN
460546450
IRS 990 coverage
2013–2015
Forms available
Form 990 2015, Form 990-N 2012
Location
Jacksonville, FL, USA
Phone
9046101927
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Reported finances

Revenue
$3,596,171
Expenses
$4,979,507
Assets
$1,513,988
Liabilities
$238,251

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

Leadership & pay

4 people listed

Executive titles in this filing

  • OLATUNJI WILLIAMS (CEO)

People named in this filing

  • CLEVE WARREN (CHAIRMAN)
  • JANET OWENS (TREASURER)
  • BARBARA DARBY (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Charter schools in duval county-

What it reported doing in 2015

With a major focus on character development and single gender instruction, profectus will prepare the youth of northwest jacksonville to be sharp-self-aware, humble, appreciative, restpectfull and persistent. Profectus will offer a well-rounded, k-12 single-gender program for males and females that will hold itself and its students accountable for meeting self-imposed goals, common core state standards and all standards associated with preparing students for success in college.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 100
  • Accountability: 82
  • Sustainability: 12
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.2%; rating input score 80
  • Program expense ratio: 57.9%; rating input score 58
  • Fundraising efficiency: Limited

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; 65th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -38.5%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.3; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 108.7% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 59.8% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 45.7% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 80.2% of revenue deployed · 57.9% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.9M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2013 to 2015
  • Contacts: How to reach this organization
  • 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: Program expense ratio scored 58/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.