Rocky Mount Preparatory School Inc

Nonprofit profile at a glance

EIN
311601003
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Rocky Mount, NC, USA
Phone
2524439923
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$9,982,298
Expenses
$11,252,258
Assets
$5,204,897
Liabilities
$2,232,225

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

Leadership & pay

6 people listed

Highest reported compensation

  • DR HEATHER COLLINS (HEAD OF SCHOOL): $150,054 total reported compensation

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

Overview

Mission

Rocky mount charter is a tuition-free, independent public charter school dedicated to providing an academic, college preparatory education supported by a balanced program of rigorous academics, arts, athletics, experiential learning opportunities, and community service. The shared values of the school community encourage students to reach their full potential intellectually, physically, emotionally, and socially. Our ultimate endeavor is for all of our college-track students to matriculate to four-year institutions of higher learning, and for those in the occupational course of study (ocs) program to acquire gainful employment upon graduation.

What it reported doing in 2024

Operated as a charter school in rocky mount, North Carolina, serving approximately 851 students in grades k through 12 for the fiscal year ended june 30, 2025.

Operating model

Revenue model
Grant-funded. 98% 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. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 70
  • Accountability: 90
  • Sustainability: 22
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87%; rating input score 87
  • Program expense ratio: 77.1%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • 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; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -12.7%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.46; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: -0.1% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -13.5% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 87% of revenue deployed · 77.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $8.7M in reported program spending
  • Leadership: top reported pay $150K · 6 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2020 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 — Sustainability: Operating margin scored 11/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.