Soaring Scholars Academy Inc

Nonprofit profile at a glance

EIN
992896071
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Jacksonville, FL, USA
Phone
9045102660
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Reported finances

Revenue
$283,127
Expenses
$186,870
Assets
$10,691
Liabilities
$14,428

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Crystal Allain (President)

People named in this filing

  • Crystal Allain (President)
  • Angel Allain (Secretary)
  • Christopher Davis (Treasurer)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The School is a 501c 3 school that is part of the Florida Department of Educations Step Up for Students tax credit scholarship program. Its purpose is to provide an alternative high-quality education for students in need as well as disabled students. Soaring Scholars accepts all students and receives 100 of funding through the program.

What it reported doing in 2024

The Organization is a private K-12 school that provides quality education to students through the Florida Department of Educations Step Up for Students tax credit scholarship program. All revenues are from the state scholarship program.

Operating model

Revenue model
Earned-program. 100% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 100
  • Accountability: 30
  • Sustainability: 50
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.8%; rating input score 62
  • Program expense ratio: 93.6%; rating input score 94
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th 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: 34%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 0.06; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 1.35; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 61.8% of revenue deployed · 93.6% of spending went to programs
  • Governance: 0 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $175K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules
  • Contacts: How to reach this organization
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.