Scitech Academy

Nonprofit profile at a glance

EIN
821439724
IRS 990 coverage
2019–2023
Forms available
Form 990 2023
Location
Richfield, MN, USA
Phone
6128002036
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Reported finances

Revenue
$6,378,025
Expenses
$6,701,604
Assets
$3,763,717
Liabilities
$4,072,392

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

5 people listed

Highest reported compensation

  • Farhiya Farax (Secretary): $48,204 total reported compensation
  • Ubah Mohamud (Member): $43,557 total reported compensation
  • Ibrahim Mohamed (Member): $43,400 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

SciTech Academy will deliver all-inclusive Science, Technology, Engineering, and Mathematics (STEM) curriculum to engage, empower and educate inner city students including immigrant children to better prepare future American generations. SciTech Academy will prepare students for competitive global economy through STEM, so Students can achieve successful academic goals. SciTech Academy will provide all students with the opportunity to attain successful careers and fulfilling lives by preparing them for high school, college and careers in an ever changing, highly competitive, global community and by developing their sense of social responsibility to support and serve others.

What it reported doing in 2023

Education Program: Provide education programs and services to students in grades K-8. The average enrollment during the year ending June 30, 2024 was 328 students.

Operating model

Revenue model
Grant-funded. 89% 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. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 90
  • Accountability: 60
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.4%; rating input score 92
  • Program expense ratio: 88%; rating input score 88
  • 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: 40%; rating input score 40; 7th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.1%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.56; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 1.08; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 75; 75th percentile among comparable filings

Growth

  • Program expense growth: 14.9% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 11.8% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 20.3% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 92.4% of revenue deployed · 88% of spending went to programs
  • Governance: 2 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.9M in reported program spending
  • Leadership: top reported pay $48K · 5 people listed
  • Highest-paid contractors: 5 contractors listed · $2.4M reported
  • Consistency: 38 of 38 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2019 to 2023
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • Moderate — Accountability: Independent voting board scored 40/100.
  • High — Sustainability: Operating margin scored 22/100.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.