Unity Classical Charter School a Challenge Foundation Academy

Nonprofit profile at a glance

EIN
464248675
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Charlotte, NC, USA
Phone
9802828298
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$14,333,720
Expenses
$14,224,758
Assets
$103,611,131
Liabilities
$101,592,626

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

Leadership & pay

10 people listed

Executive titles in this filing

  • SHEILA GOAD REDDICK (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SHEILA GOAD REDDICK (EXECUTIVE DIRECTOR): $115,420 total reported compensation

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

Overview

Mission

Through classical education's rigor, we strive to develop intellectually, morally, and physically excellent citizens who embrace learning and the desire to serve.

What it reported doing in 2024

Core knowledge language arts: this language arts program has been completely implemented by all teachers in all classrooms serving k-8th grade. Furthermore, it is also being utilized in our exceptional children (ec) classrooms. This includes not only the instructional sections, but assessment, intervention, remediation, and enrichment sections as well.

Operating model

Revenue model
Grant-funded. 70% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.7%; rating input score 61
  • Program expense ratio: 60.8%; rating input score 61
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 66th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.8%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 7.28; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.98; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0.8%; rating input score 87; 87th percentile among comparable filings

Growth

  • Program expense growth: 28.2% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 29.5% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 39.3% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 60.7% of revenue deployed · 60.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $8.6M in reported program spending
  • Leadership: top reported pay $115K · 10 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 6 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.