Ware Academy Inc

Nonprofit profile at a glance

EIN
540577901
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Gloucester, VA, USA
Phone
8046933825
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$3,365,834
Expenses
$2,551,122
Assets
$4,741,356
Liabilities
$541,517

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

Leadership & pay

19 people listed

Executive titles in this filing

  • DR STAN ALLEN (PRESIDENT)
  • CARLTON REVERE (VICE PRESIDENT)

Highest reported compensation

  • DAWN FLEET (HEAD OF SCHOOL): $126,613 total reported compensation

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

Overview

Mission

Ware academy is a college preparatory school for students in pre-kindergarten through eighth grade whose mission is to educate the whole child to his or her fullest potential.

What it reported doing in 2024

The education of students from pre-kindergarten through eighth grade.

Operating model

Revenue model
Earned-program. 69% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 82% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 94
  • Accountability: 84
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.3%; rating input score 60
  • Program expense ratio: 80.9%; rating input score 81
  • Fundraising efficiency: $19.99 raised per $1 spent on fundraising; rating input score 59; 59th percentile among comparable filings

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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 24.2%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 1.86; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 5%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: 5.8% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 7.8% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 60.3% of revenue deployed · 80.9% of spending went to programs
  • Governance: 18 of 18 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $127K · 19 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2012 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 59/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • Review — Sustainability: Officer compensation ratio scored 54/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.