Solare Collegiate Foundation

Nonprofit profile at a glance

EIN
832899352
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Albuquerque, NM, USA
Phone
5055541513
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$860,000
Expenses
$679,640
Assets
$7,274,808
Liabilities
$6,685,162

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

Leadership & pay

4 people listed

Executive titles in this filing

  • RONNIE RIVAS-SAVELL (PRESIDENT)

Highest reported compensation

  • RACHAEL SEWARDS (DIRECTOR/ED OF SCHOOL): $177,725 total reported compensation

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

Overview

Mission

The purpose of the solare collegiate foundation is to provide support to the solare collegiate charter school, through fundraising and securing of resources, in the fulfillment of the school's mission and vision.

What it reported doing in 2024

Providing support to the solare collegiate charter school, through fundraising and securing of resources, in the fulfillment of the school's mission and vision.

Operating model

Revenue model
Earned-program. 77% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 78% for direct work, and 22% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 71
  • Accountability: 68
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79%; rating input score 79
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 16th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 10.7; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 24% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 24.3% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 21.1% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 79% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $680K in reported program spending
  • Leadership: top reported pay $178K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.