St Richard's Episcopal School

Nonprofit profile at a glance

EIN
356007169
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3179260425
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Affiliation
Christianity

Official website

Reported finances

Revenue
$11,021,955
Expenses
$9,458,828
Assets
$9,283,709
Liabilities
$956,600

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

Leadership & pay

24 people listed

Executive titles in this filing

  • NICK COLBY (PRESIDENT)

Highest reported compensation

  • DR LESLIE HOSEY (HEAD OF SCHOOL): $276,902 total reported compensation
  • JAY SHERRILL (PHYSICAL EDUCATION/CO-AD): $110,916 total reported compensation
  • JOHN BRADY (HEAD OF MIDDLE DIVISION): $107,325 total reported compensation

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

Overview

Mission

We foster knowledge and values for a lifetime through the implementation of our five pillars for success: faith, classic curriculum, leadership, civic responsibility, and global readiness.

What it reported doing in 2024

We strive to educate children in grades pre-k through 8 with a curriculum that implements the school's five pillars for success. We value the inclusion of ethnic, racial, and socioeconomic diversity among our students. Approximately 345 students attend the school.

Operating model

Revenue model
Other-operating. 72% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 88% 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64%; rating input score 64
  • Program expense ratio: 73.3%; rating input score 73
  • Fundraising efficiency: $11.17 raised per $1 spent on fundraising; rating input score 41; 41st 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: 14.2%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 0.98; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 64% of revenue deployed · 73.3% of spending went to programs
  • Governance: 19 of 19 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6.9M in reported program spending
  • Leadership: top reported pay $277K · 24 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $517K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Fundraising efficiency scored 41/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.