St Thomas More Academy Inc

Nonprofit profile at a glance

EIN
020624214
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9198787640
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Affiliation
Christianity

Official website

Reported finances

Revenue
$2,983,659
Expenses
$2,890,168
Assets
$6,165,274
Liabilities
$142,211

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

Leadership & pay

4 people listed

Executive titles in this filing

  • ROBERT L LUDDY (PRESIDENT)

Highest reported compensation

  • BRADLEY E WATKINS (HEADMASTER): $123,489 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. Thomas more academy provides a classical college-preparatory high school curriculum for grades 9 through 12 that fully participates in the roman catholic tradition.

What it reported doing in 2024

Expenses were incurred to operate a school for 278 high school students. These expenses included teacher salaries, educational materials and student activities.

Operating model

Revenue model
Earned-program. 65% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 96% 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. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.8%; rating input score 88
  • Program expense ratio: 90.5%; rating input score 90
  • Fundraising efficiency: $127.32 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.1%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 2.13; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 4.3%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: 5.6% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 87.8% of revenue deployed · 90.5% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.6M in reported program spending
  • Leadership: top reported pay $123K · 4 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Sustainability: Operating margin scored 45/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Officer compensation ratio scored 59/100.