Richmond Friends School Inc

Nonprofit profile at a glance

EIN
351267045
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-N 2008
Location
Richmond, IN, USA
Phone
7659665767
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$813,721
Expenses
$865,920
Assets
$466,370
Liabilities
$31,141

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

Leadership & pay

13 people listed

Highest reported compensation

  • REBEKAH DIMICK EASTMAN (EX OFFICIO): $60,000 total reported compensation
  • LISA BUTCH (EX OFFICIO): $43,882 total reported compensation

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

Overview

Mission

Committed to providing a quality educational experience for each child, creating an environment that nurtures individual intellectual, emotional, creative, spiritual, and physical gifts within a community

What it reported doing in 2024

Tuition-annual fee for attending richmond friends school for a minimum of 180 days per academic year. Approximately 90 students served.

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 82% 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: 82
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.6%; rating input score 94
  • Program expense ratio: 87.5%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: Fail

Sustainability

  • Operating margin: -6.4%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 12%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 5% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 93.6% of revenue deployed · 87.5% of spending went to programs
  • Governance: 13 of 13 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $758K in reported program spending
  • Leadership: top reported pay $60K · 13 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 22/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.