St David's School

Nonprofit profile at a glance

EIN
237241145
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9197823240
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Secondary, High School

Official website

Reported finances

Revenue
$18,873,678
Expenses
$20,009,559
Assets
$27,061,127
Liabilities
$20,990,020

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

Leadership & pay

22 people listed

Highest reported compensation

  • MATTHEW HILLEGASS (PRIOR HEAD OF SCHOOL): $299,702 total reported compensation
  • MIRIAM F LESHNOCK (ASST HEADMASTER FINANCE/OP): $251,926 total reported compensation
  • MARY A RAPER (DIRECTOR OF ADVANCEMENT): $195,916 total reported compensation

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

Overview

Mission

St. David's is an independent school of academic excellance that prepares young men and women for college and life by challenging them to excel in the vital areas of christian faith, virtue, and knowledge.

What it reported doing in 2024

Expenses are incurred to operate a school for 687 pre-kindergarten through 12th grade students. These expenses include teacher salaries, educational materials, field trips and other student activities.

Operating model

Revenue model
Earned-program. 89% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 93% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.5%; rating input score 80
  • Program expense ratio: 75.5%; rating input score 76
  • Fundraising efficiency: $3.53 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 1.35; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.78; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 6.1% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 79.5% of revenue deployed · 75.5% of spending went to programs
  • Governance: 14 of 14 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $15.1M in reported program spending
  • Leadership: top reported pay $300K · 22 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 38 of 38 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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.

  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • High — Sustainability: Operating margin scored 15/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.