Sag Harbor Rainbow Preschool Inc

Nonprofit profile at a glance

EIN
201551991
IRS 990 coverage
2018–2021
Forms available
Form 990 2021, Form 990-EZ 2017
Location
Sag Harbor, NY, USA
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Kindergarten, Preschool, Nursery School, Early Admissions

Reported finances

Revenue
$96,211
Expenses
$140,381
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • EMILIE BENNETT (PRESIDENT)

People named in this filing

  • EMILIE BENNETT (PRESIDENT)
  • BETH GREGOR (TREASURER)
  • KATHRYN MENU (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The sag harbor rainbow preschool, inc. Was formed to provide a pre-school program for three and four year old children in the local sag harbor community. The rainbow school provides a positive atmosphere that will promote the social, physical, intellectual, and emotional growth of pre-school children. Learning experiences, appropriate for the development age of each group are provided daily with a strong emphasis on the arts and music.

What it reported doing in 2021

Pre-school program and education

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 94% 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. Program spending has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 93
  • Accountability: 88
  • Sustainability: 21
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • 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; 82nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -45.9%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -11.5% per year; rating input score 0; 34th percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 36th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $140K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 4 filing years from 2018 to 2021
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.