Promise Education Cooperative Inc Savage

Nonprofit profile at a glance

EIN
821088422
IRS 990-EZ coverage
2017–2018
Forms available
Form 990-EZ 2018
Location
Huntington, IN, USA
Phone
2604093334
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$31,002
Expenses
$33,007
Assets
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • KAREN RICE (PRESIDENT)

People named in this filing

  • KAREN RICE (PRESIDENT)
  • KRISTA ANDERSON (SECRETARY)
  • CHARLOTTE MISTY SAVAGE (TREASURER)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the corporation will be a home school cooperative. For middle school and high school students, promise education cooperative (pec) provides a strong core education in math, science, english, and history with individualized instruction in the core subjects and electives according to the students individual learning styles. Students and parents will experience motivation, encouragement, and qualified instruction in a faith-based, supportive, peaceful community that allows the students to grow socially and academically. Pec will thrive and grow through constant addition of new students and parents, outside donation, fundraising, and tuition to be a long-term, self-sustaining organization. Pec strives to influence young people to be godly, honest, inspired, and capable in order to be well-rounded and community-minded individuals.

What it reported doing in 2018

Promise education cooperative provides an atmosphere for learning for middle and high school homeschool students. The paid instructor taught the 4 core classes of history, science, english and math while also allowing a meeting space for parent-led elective classes. Promise education cooperative provided benefit to 8 students this year.

Operating model

Revenue model
Donor-supported. 81% of the money available for current operations came from contributions and gifts.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 82
  • Sustainability: 17
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.5%; rating input score 92
  • Program expense ratio: 86%; rating input score 86

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -6.5%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 76%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 62.1% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 35.7% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 91.5% of revenue deployed · 86% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $28K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 5 of 5 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2017 to 2018
  • 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.

  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.