Putnam Academy of Arts and Sciences Inc

Nonprofit profile at a glance

EIN
451079996
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Palatka, FL, USA
Phone
3863264212
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Reported finances

Revenue
$1,871,191
Expenses
$2,024,807
Assets
$1,726,601
Liabilities
$1,238,664

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

Leadership & pay

12 people listed

Highest reported compensation

  • ELLIS CURTIS (PRINCIPAL): $150,924 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 challenging, well-rounded education in a safe and supportive environment. Our school fosters creative minds and ethical character. We are dedicated to the development of attitudes, skills, knowledge, and reponsibility.

What it reported doing in 2024

Our school focuses on providing a comprehensive and well-rounded educational experience, teaching appropriate student behaviors, and reinforcing and rewarding positive behaviors. The school served approximately 181 students in 2025 and 174 students in 2024, serving grades 6-8.

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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 65
  • Accountability: 95
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.1%; rating input score 65
  • Program expense ratio: 60.1%; rating input score 60
  • Fundraising efficiency: $663.99 raised per $1 spent on fundraising; rating input score 97; 97th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.2%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.72; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: 8.2% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 13.6% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 65.1% of revenue deployed · 60.1% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $151K · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • Moderate — Transparency & Controls: Schedule D expense reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.