Spectrum Education Inc

Nonprofit profile at a glance

EIN
882785444
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
North Port, FL, USA
Phone
9415002390
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$291,591
Expenses
$317,624
Assets
$8,523
Liabilities
$16,580

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Barbara Southwick (President)

Highest reported compensation

  • Barbara Southwick (President): $40,546 total reported compensation

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

Overview

Mission

Empowering exceptional students to reach their full potential through a rigorous and engaging virtual learning community.

What it reported doing in 2024

Develop a sustainable model for a virtual learning community that is rigorous, engaging, and capable of being duplicated and delivered by dedicated professionals and families

Operating model

Revenue model
Earned-program. 97% 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

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: 100
  • Accountability: 64
  • Sustainability: 15
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.3%; rating input score 98
  • 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: 83.3%; rating input score 83; 22nd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -8.9%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 1.95; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 12.8%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 39.5% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 45.2% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 66.6% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.3% of spending went to programs
  • Governance: 5 of 6 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $318K in reported program spending
  • Leadership: top reported pay $41K · 6 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.