Three Rivers Academy

Nonprofit profile at a glance

EIN
831158515
IRS 990 coverage
2018–2020
Forms available
Form 990 2020
Location
Powellsville, NC, USA
Phone
9105388060
Rating
58
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$1,409,851
Expenses
$1,342,929
Assets
$82,372
Liabilities
$107

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

5 people listed

People named in this filing

  • James Montague (Board Chair)
  • Wonza Montague (Board Treasurer)
  • Linda Peele (Board Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Operate a Charter School

What it reported doing in 2020

Provide facilities, teachers, materials and instruction to enrolled students. All operations have been contracted out to a management company.

Operating model

Revenue model
Grant-funded. 100% 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 12
  • Transparency & Controls: 100
  • Accountability: 94
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 13.1%; rating input score 13
  • Program expense ratio: 13.8%; rating input score 14
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 4.7%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.06; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: -44.5% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 18.3% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 52.3% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 13.1% of revenue deployed · 13.8% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $185K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $1.2M reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2018 to 2020
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 13/100.
  • High — Financial Efficiency: Program expense ratio scored 14/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.