The Carousel School Inc

Nonprofit profile at a glance

EIN
042373760
IRS 990 coverage
2010–2019
Forms available
Form 990 2019
Location
Waltham, MA, USA
Phone
7818931503
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$124,688
Expenses
$217,498
Assets
$71,091
Liabilities
$130,731

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • PHYLLIS A REGAN (PRESIDENT/DIRECTOR)

Highest reported compensation

  • PHYLLIS A REGAN (PRESIDENT/DIRECTOR): $27,374 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide quality preschool education on a non discriminatory policy.

What it reported doing in 2019

Preschool teaching program

Operating model

Revenue model
Earned-program. 100% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 90
  • Accountability: 50
  • Sustainability: 7
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.8%; rating input score 87
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 14th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -74.4%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.33; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 1.84; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -11.7% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -8.2% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -9.1% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.8% of spending went to programs
  • Governance: 1 of 2 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $189K in reported program spending
  • Leadership: top reported pay $27K · 2 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 10 filing years from 2010 to 2019
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.