St Michael's Episcopal School Inc

Nonprofit profile at a glance

EIN
201384329
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8042723514
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Nonmonetary Support N.E.C.
Affiliation
Christianity

Reported finances

Revenue
$7,298,430
Expenses
$9,952,524
Assets
$25,982,468
Liabilities
$7,462,650

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

Leadership & pay

16 people listed

Highest reported compensation

  • ROBERT E GREG III (HEAD OF SCHOOL): $327,592 total reported compensation
  • MICHAEL K JACKSON (DIRECTOR OF FINANCE): $124,540 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. Michael's episcopal school nurtures the spirit, ignites the mind, and celebrates childhood in a community of love, affirmation, and belonging that fosters educational excellence.

What it reported doing in 2024

The school was organized and is operated exclusively for charitable, religious and educational purposes. It's principal purpose is to operate st. Michael's episcopal school which enrolls over 380 students in kindergarten through eighth grade. The school is accredited by the Virginia and national associations of independent schools and beginning with the 2018-2019 school year, combined both the lower and upper schools together on the beautiful 70 acre singleton campus.

Operating model

Revenue model
Earned-program. 90% 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 65% for direct work, and 35% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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: 87
  • Transparency & Controls: 79
  • Accountability: 90
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.3%; rating input score 88
  • Fundraising efficiency: $4.62 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • 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; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -36.4%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 2.61; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 26.9% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 15.9% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 8.9% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.3% of spending went to programs
  • Governance: 14 of 14 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $8.8M in reported program spending
  • Leadership: top reported pay $328K · 16 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $103K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 12 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 3 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 — Financial Efficiency: Fundraising efficiency scored 15/100.
  • High — Sustainability: Operating margin scored 3/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.