Progressive Equity Charter Inc

Nonprofit profile at a glance

EIN
800496070
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Oakland, CA, USA
Phone
5106550540
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$411,309
Expenses
$242,408
Assets
$4,051,895
Liabilities
$2,130,431

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

Leadership & pay

4 people listed

Executive titles in this filing

  • RICHARD TRAFFORD-OWEN (PRESIDENT/CEO)

People named in this filing

  • RICHARD TRAFFORD-OWEN (PRESIDENT/CEO)
  • ADAM D KAYE (TREASURER/CFO)
  • DEBORAH J OWEN (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Assist philanthropists and foundations in accelerating the growth of high quality charter schools; and to provide and otherwise obtain or assist in obtaining charter school financing.

What it reported doing in 2024

The primary exempt purpose of the corporation is to provide facilities to charter schools and provide grants to assist in educational support to charter schools. The primary revenue source for disbursements is rental income.

Operating model

Revenue model
Earned-program. 91% 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 a large share of total spending goes to programs. 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: 66
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 78
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.8%; rating input score 59
  • Program expense ratio: 99.8%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 41.1%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 16.72; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.53; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 22nd percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 58.8% of revenue deployed · 99.8% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $242K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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 59/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.