Western Academy Inc

Nonprofit profile at a glance

EIN
562316078
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Loxahatchee, FL, USA
Phone
5617924123
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$9,016,181
Expenses
$8,149,444
Assets
$20,796,041
Liabilities
$19,751,511

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

Leadership & pay

7 people listed

Executive titles in this filing

  • REESE HARVEY (PRESIDENT)

Highest reported compensation

  • TSIRI MILLER (PRINCIPAL): $122,600 total reported compensation
  • DAWN AUERBACH (CFO): $115,400 total reported compensation

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

Overview

Mission

Student centered learning environment that promotes high standards, grade k thru 8.

What it reported doing in 2024

For the 2024-2025 school-year, some additional highlights of the progress made in the standardized test scores included: 1. Top charter school in palm beach county 2. 1 school in royal palm beach 3. "a" rated charter school (since 2006) 4. Top 1% of Florida charter schools (us news ranking) in addition, western academy charter school has achieved the following: . Florida department of education school of excellence since 2017 . Fdoe high performing charter school since 2011

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.6%; rating input score 75
  • Program expense ratio: 83.1%; rating input score 83
  • 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 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: 9.6%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 2.55; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.95; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 2.9%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 10.3% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 8.8% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 19.8% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 74.6% of revenue deployed · 83.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6.8M in reported program spending
  • Leadership: top reported pay $123K · 7 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: 2 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.