Rhode Island Mayoral Academies

Nonprofit profile at a glance

EIN
263896058
IRS 990 coverage
2009–2016
Forms available
Form 990 2016
Location
Providence, RI, USA
Phone
4012447496
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Management & Technical Assistance

Official website

Reported finances

Revenue
$1,339,441
Expenses
$1,631,601
Assets
$5,678,199
Liabilities
$5,054,162

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • DONNA STONE (CEO)

Highest reported compensation

  • DONNA STONE (CEO): $116,973 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To oversee a network of new public schools across the state of Rhode Island known as mayoral academies.

What it reported doing in 2016

Rhode Island mayoral academies (rima) is the name of a non-profit organization that supports the statewide growth of mayoral academies: high-performing, diverse, regional public schools governed by mayor-led school boards. Rima works towards this mission by recruiting extraordinary school operators and leaders to open mayoral academies; supporting mayoral academies from the application stage through the first years of growth; and cultivating mayors across Rhode Island to become leaders in improving public education.

Operating model

Revenue model
Donor-supported. 68% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 87% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 94
  • Accountability: 74
  • Sustainability: 33
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.5%; rating input score 84
  • 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: 100%; rating input score 100; 74th percentile among comparable filings
  • 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: -21.8%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 3.48; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: -1.8% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 11.5% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $117K · 8 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2009 to 2016
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.