Blackstone Valley Prep Mayoral Academy

Legal name: Rhode Island Mayoral Academy (Sm) Blackstone Valley

Nonprofit profile at a glance

EIN
270617933
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Cumberland, RI, US
Phone
401-335-3133
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$41,149,662
Expenses
$44,478,519
Assets
$57,723,198
Liabilities
$54,311,314

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

Leadership & pay

19 people listed

Executive titles in this filing

  • SARAH ANDERSON (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • SARAH ANDERSON (CHIEF EXECUTIVE OFFICER): $214,297 total reported compensation
  • CHRISTINE LOSEA (CHIEF FINANCIAL OFFICER): $152,735 total reported compensation
  • MICHAEL DEMATTEO (CHIEF OPERATIONS OFFICER): $149,598 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To prepare every scholar to achieve their goals for college and the world beyond.

What it reported doing in 2024

Blackstone valley prep (bvp) is a non-profit organization established to provide elementary, middle school and high school education to students residing in cumberland, central falls, lincoln, and pawtucket, Rhode Island.

Operating model

Revenue model
Earned-program. 82% 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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.5%; rating input score 96
  • Program expense ratio: 88.4%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.1%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 1.3; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 2.4%; rating input score 74; 74th percentile among comparable filings

Growth

  • Program expense growth: 10.4% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 11.6% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 19% per year; rating input score 100; 88th percentile among comparable filings

Details

  • What they do: 2 programs and campaigns described on the official site · 2 operating locations identified
  • Where the money goes: 95.5% of revenue deployed · 88.4% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $39.3M in reported program spending
  • Leadership: top reported pay $214K · 19 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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.

  • High — Sustainability: Operating margin scored 12/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.