Scholastic Legacy Inc Aptos Academy

Nonprofit profile at a glance

EIN
770411034
IRS 990 coverage
2010–2013
Forms available
Form 990 2013
Location
Aptos, CA, USA
Phone
8316881080
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$-393,693
Expenses
$579,199
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • MJ Elliott Pase (President)

Highest reported compensation

  • MJ Elliott Pase (President): $49,500 total reported compensation
  • Teryl Robertson (Director): $33,634 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Education

What it reported doing in 2013

The Exempt organization operates a school that enrolls students from Preschool through Grade 8. The curriculum consists of reading, spelling, arithmetic, music, science, Spanish language, geography, art, learning skills, and ethics.

Operating model

Revenue model
Earned-program. 92% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 100
  • Accountability: 0
  • Sustainability: 7
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.9%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -247.1%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 14.4%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -81.5% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -41.2% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.9% of spending went to programs
  • Governance: 0 of 6 board members independent · 0 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $515K in reported program spending
  • Leadership: top reported pay $50K · 6 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2010 to 2013
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • High — Grant Readiness: California registration: this organization is recorded as not currently operating in California.