Statesmen College Preparatory Academy for Boys

Nonprofit profile at a glance

EIN
821901942
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
Washington, DC, USA
Phone
2025059072
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$12,070,542
Expenses
$10,888,369
Assets
$7,390,725
Liabilities
$988,941

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

Leadership & pay

12 people listed

Executive titles in this filing

  • SHAWN HARDNETT (FOUNDER AND EXECUTIVE DIRECTOR)

Highest reported compensation

  • SHAWN HARDNETT (FOUNDER AND EXECUTIVE DIRECTOR): $247,963 total reported compensation

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

Overview

Mission

To create a boy-friendly, pedagogy-informed academic environment within which young men are equipped with the academic skills, social competencies, and personal development necessary to navigate life challenges, attend and complete the college of their choice, and return to become the premier agents of social change within and for the communities they serve.

What it reported doing in 2024

Statesmen college preparatory academy for boys public charter school is a middle school program currently serving fourth, fifth, and sixth grades and growing a grade a year through eighth grade in the district of columbia. Our doors opened to the first class of 4th graders in the summer of 2018 as they participated in a mandatory summer bridge institute. Our program offers free tuition, free meals, free uniforms, free local and regional field trips for all enrolled students.

Operating model

Revenue model
Earned-program. 79% 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. Fundraising costs are high for each dollar raised and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.3%; rating input score 78
  • Program expense ratio: 88.3%; rating input score 88
  • Fundraising efficiency: $7.59 raised per $1 spent on fundraising; rating input score 31; 31st 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 24th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.8%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 0.68; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 74; 74th percentile among comparable filings

Growth

  • Program expense growth: 24.1% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 22.8% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 23.5% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 78.3% of revenue deployed · 88.3% of spending went to programs
  • Governance: 11 of 12 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $9.6M in reported program spending
  • Leadership: top reported pay $248K · 12 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.3M reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 31/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.