Success Academy

Nonprofit profile at a glance

EIN
471245811
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2015, Form 990-N 2014
Location
Bloomington, MN, USA
Phone
6128763050
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$6,422,796
Expenses
$6,439,541
Assets
$6,020,434
Liabilities
$5,695,154

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

Leadership & pay

6 people listed

Highest reported compensation

  • AHMED HUDLE (DIRECTOR OF OPERATIONS): $146,657 total reported compensation
  • SARA ADEN (MEMBER/ELL LEAD TEACHER): $67,426 total reported compensation

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

Overview

Mission

The mission of success academy is to prepare students to become excellent questioners, scientific thinkers, and responsible citizens.

What it reported doing in 2024

During the previous year, success academy served over 379 adm - its largest state enrollment to date - at two sites in bloomington and st. Cloud, mn. Test results and other demographic and student information are available on the mn department of education website.

Operating model

Revenue model
Grant-funded. 99% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 99% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 94
  • Accountability: 75
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.6%; rating input score 87
  • Program expense ratio: 86.4%; rating input score 86
  • Fundraising efficiency: Limited

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: 80%; rating input score 80; 14th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.3%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.93; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.95; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 3.3%; rating input score 66; 66th percentile among comparable filings

Growth

  • Program expense growth: 23.2% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 22.3% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 23% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 86.6% of revenue deployed · 86.4% of spending went to programs
  • Governance: 4 of 5 board members independent · 6 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $5.6M in reported program spending
  • Leadership: top reported pay $147K · 6 people listed
  • Highest-paid contractors: 1 contractor listed · $262K reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.