Village Preparatory School

Nonprofit profile at a glance

EIN
262367774
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Cleveland, OH, USA
Phone
2164562070
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$12,964,592
Expenses
$12,921,620
Assets
$16,253,940
Liabilities
$18,935,178

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

Leadership & pay

6 people listed

Highest reported compensation

  • Amanda Schecter (Principal): $103,357 total reported compensation

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

Overview

Mission

To provide a high quality, academically rigorous education for the college bound scholar. We empower our scholars to think critically, assume social responsibility, and serve as advocates from themselves and the community.

What it reported doing in 2024

The School is defined by the High structured school culture found in many of our nations top-performing urban school. The School focuses on reading and math instruction integrating technology, and features two teachers in each classroom. Teachers are passionate and committed, and every minutes is used to the fullest. Although young, the scholars are held to high behavior and academic standards, and understand that they attend school with college as their long-term goal. All classrooms are named after and decorated as specific colleges as a creative way to motivate and remind scholars of their educational objectives. The School frequently assesses the students to determine with standards have been mastered and with standards deserve review and remediation.

Operating model

Revenue model
Grant-funded. 85% 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. Expenses are high relative to revenue and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 100
  • Accountability: 95
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.8%; rating input score 66
  • Program expense ratio: 65%; rating input score 65
  • 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: 7 of 8 controls in place; rating input score 88
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.3%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 1.26; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 1.16; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0.8%; rating input score 87; 87th percentile among comparable filings

Growth

  • Program expense growth: 12.5% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 13.1% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 20.8% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 65.8% of revenue deployed · 65% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $8.4M in reported program spending
  • Leadership: top reported pay $103K · 6 people listed
  • Highest-paid contractors: 5 contractors listed · $5.6M reported
  • Consistency: 24 of 26 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 4 filed related-organization links
  • 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 — Sustainability: Operating margin scored 34/100.
  • Moderate — Transparency & Controls: Fund balance restriction sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D expense reconciliation did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.