Santa Fe Preparatory School

Nonprofit profile at a glance

EIN
850165745
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Santa Fe, NM, USA
Phone
5059821829
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Secondary, High School

Reported finances

Revenue
$21,795,620
Expenses
$34,511,180
Assets
$73,134,183
Liabilities
$42,104,331

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

Leadership & pay

23 people listed

Highest reported compensation

  • AARON SCHUBACH (HEAD OF SCHO): $351,231 total reported compensation
  • BRUCE SACHS (CFO): $153,994 total reported compensation
  • ASHLEY SATTERTHWAITE (ASST. HEAD O): $145,528 total reported compensation

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

Overview

Mission

Santa fe preparatory school is an independent co-educational college preparatory day school, grades 7 through 12, dedictaed to educational excellence.

What it reported doing in 2024

Davis New Mexico scholars and breakthrough santa fe (breakthrough): breakthrough is a prep program that assist students in grades 7 through 12 from underserved public schools to become the first in their families to go to college. Students commit to the program for 6 years and participate in summer programming, school year support, and one-on-one college counseling. Breakthrough santa fe also partners with the shelby cullom davis charitable fund, inc. To administer and award full-tuition college scholarships to students participating in the davis New Mexico scholars program (davis New Mexico). As of june 30, 2024, approximately 137 davis New Mexico scholarship recipients are enrolled in college.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 71% of its reported program spending out as grants.

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: 93
  • Transparency & Controls: 81
  • Accountability: 86
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91%; rating input score 91
  • Fundraising efficiency: $23.41 raised per $1 spent on fundraising; rating input score 61; 61st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 41st 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; 66th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -58.3%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 2.12; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 3%; rating input score 68; 68th percentile among comparable filings

Growth

  • Program expense growth: 10.2% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 9.4% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91% of spending went to programs
  • Governance: 17 of 17 board members independent · 6 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $31.4M in reported program spending
  • Leadership: top reported pay $351K · 23 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 23 filed money-flow records
  • Related organizations: 16 filed related-organization links
  • 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 1/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.