The Hope Academy

Nonprofit profile at a glance

EIN
464845929
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-N 2013
Location
Providence, RI, USA
Phone
4015339100
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Reported finances

Revenue
$6,741,703
Expenses
$7,134,986
Assets
$3,827,488
Liabilities
$1,992,066

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

Leadership & pay

12 people listed

Highest reported compensation

  • NERISE BECKFORD HOLY (HEAD OF SCHOOL): $102,021 total reported compensation
  • FRANCISCO RAMIREZ (OPERATIONS MANAGER): $89,212 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 hope academy is committed to an educational model focusing on the academic and social success of each individual, preparing students to meet the challenges of the future.

What it reported doing in 2024

Charter school educational services the hope academys primary service is to provide public education to residents of providence and north providence. Admission is based on a lottery system and tuitions are billed to the city/town in which the student resides. The hope academy fosters an inclusive environment by exposing children to those who are different from themselves at an early age. The school rents space from meeting street, a private institution of learning that has been recognized as a leader in servicing students with disabilities. Growing up alongside children that are different than themselves will incite inclusivity.

Operating model

Revenue model
Grant-funded. 74% of the money available for current operations came from government grants.
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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.6%; rating input score 97
  • Program expense ratio: 91.3%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 7th 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: 100%; rating input score 100; 63rd 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: 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: Pass

Sustainability

  • Operating margin: -5.8%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 2.7%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: 18.3% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 17.4% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 28.3% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 96.6% of revenue deployed · 91.3% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $6.5M in reported program spending
  • Leadership: top reported pay $102K · 12 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 11 filing years from 2014 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Moderate — Transparency & Controls: Schedule D expense reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.