Soundview Preparatory School

Nonprofit profile at a glance

EIN
133516633
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Jefferson Valley, NY, USA
Phone
9149622780
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Secondary, High School

Reported finances

Revenue
$-857,040
Expenses
$815,295
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

7 people listed

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Soundview preparatory school conducted, operated, and maintained a private school, grades 6-12, and a summer school program prior to dissolving in 2020 pursuant to a voluntary petition in the us bankruptcy court pursuant to chapter 11 of title 11 of the us code.

What it reported doing in 2020

Expenses incurred in dissolution.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 14
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.1%; rating input score 92
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -195.1%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -0.4% per year; rating input score 0; 63rd percentile among comparable filings
  • Revenue growth: -5% per year; rating input score 0; 50th percentile among comparable filings
  • Asset growth: -6.7% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.1% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $751K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 11 filing years from 2010 to 2020
  • 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.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.