Sledge Institute

Nonprofit profile at a glance

EIN
881885440
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Henderson, NC, USA
Phone
9192630064
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Reported finances

Revenue
$297,994
Expenses
$511,211
Assets
$384,394
Liabilities
$384,394

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Chandra Sledge (CEO)
  • Dr Wykia Macon (President)
  • Catherine McCoy (Vice President)

Highest reported compensation

  • Chandra Sledge (CEO): $60,170 total reported compensation

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

Overview

Mission

Public, tuition-free charter school

What it reported doing in 2024

Planning year for opening Sledge Institute -- a public charter school in Vance County, North Carolina, opening in the fall of 2025, adding grades yearly until K - 12.The school is committed to embracing every learner's natural curiosities and potential and will provide an inclusive community with tuition-free resources to help every student thrive.SI will build bridges to learning and opportunity for families in the Kerr-Tar region: Vance, Warren, Granville, Franklin, and Person Counties.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 15
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 67.9%; rating input score 68
  • Fundraising efficiency: $132.09 raised per $1 spent on fundraising; rating input score 88; 88th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -71.6%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.75; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 11.8%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 192% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: 30% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 57.3% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 67.9% of spending went to programs
  • Governance: 6 of 6 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $347K in reported program spending
  • Leadership: top reported pay $60K · 7 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.