Studio Academy

Nonprofit profile at a glance

EIN
411942539
IRS 990 coverage
2009–2009
Forms available
Form 990 2009
Location
Rochester, MN, USA
Phone
5075291662
Rating confidence
Limited
Sector
Charter Schools

Official website

Reported finances

Revenue
$1,086,198
Expenses
$976,824
Assets
$826,770
Liabilities
$380,800

Source: IRS Form 990. Selected filing: tax year 2009. Amounts in USD.

Leadership & pay

7 people listed

Source: IRS Form 990. Selected filing: tax year 2009. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The primary objective of the studio academy is to provide education in order to improve pupil learning; increase learning opportunities and encourage innovative teaching methods. Foster excellence and fulfillment through the integration of arts, academics and community involvement.

What it reported doing in 2009

Expenses are for the operation of a charter school to provide education to improve pupil learning; increase learning opportunities for pupils; encourage the use of innovative teaching methods, and create new professional opportunities for teachers, including the opportunity to be responsible for the learning program of the school. Regarding the portfolio review results, 95% of the students had three or more arts pieces entered for the school year which placed the school in the high achievement indicator. Also 94% of the portfolio entries showed improvement according to their liker score thus putting the school in the high achievement category. In mathematics the school showed an increase of 15% and 2% in english in standardized tests. Ayp attendance for the school was in the middle category with an average attendance of 85%. The school did meet ayp for math or english.

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 65
  • Sustainability: 54
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 12th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.1%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.46; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 14%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 4 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $787K in reported program spending
  • Leadership: top reported pay $63K · 7 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.