Virginia Assoc of Secondary School Principals Inc

Nonprofit profile at a glance

EIN
540978454
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8043552777
Rating
51
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$690,980
Expenses
$602,542
Assets
$1,365,999
Liabilities
$785,377

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

Leadership & pay

14 people listed

Executive titles in this filing

  • Dr Randy D Barrack (CEO)
  • Shawn DeRose (President)
  • Dr Melanie Patterson (President Elect)
  • Dr Michael Kelly (Past President)

Highest reported compensation

  • Dr Randy D Barrack (CEO): $208,779 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 organization's mission is to support school principals and assistant principals in providing leadership to their schools and communities for the purpose of improving the education of Virginia's youth.

What it reported doing in 2024

VASSP worked collaboratively with the Virginia Department of Education (VDOE), the Virginia Association of Elementary School Principals (VDOE), and Virginia Foundation for Educational Leadership (VFEL), to develop and pilot a new mentoring program for PreK-12 school administrators. Titled the Virginia Principals Mentoring Pilot (VPMP), this program will serve two purposes. First, the VPMP will provide principals with knowledge, skills, and support from their initial appointment through their beginning three-year period. Second, the VPMP will establish a platform to train mentors to work with newer principals within that beginning three-year period. Most importantly, VPMP Principals are participating in high quality, targeted professional development that assists in the transition to school leadership, examines the realities of principal-ship, and provides individualized support. The mentoring program will establish a safe space for beginner principals to grow in their role; problem solve and engage in an impactful way with peers. Discussions regarding the pilot proposal began in August 2023, with representatives from VDOE, VASSP, VAESP, and VFEL. Administering the pilot began in the spring of 2024 and is scheduled to end February 2025.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: 0
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 54
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.8%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 2.27; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.57; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 24.4%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -0.6% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: 0.6% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 16 of 16 board members independent · 7 of 8 filing controls reported
  • Programs: 6 filed program accomplishments
  • Leadership: top reported pay $209K · 14 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.