Sophia Academy

Tax-deductible

Providence, RI501(c)(3)Since 2001EducationEIN 31-1736069Revenue $1.9M in FY2024

On file with the IRSsophia-academy.org582 Elmwood Ave, 02907-1837 · Providence, RITax-exempt since Feb 2001School — 170(b)(1)(A)(ii)

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Middle school for girls from low-income families

501(c)(3) charity; gifts are tax-deductible.
64¢ of each $1 spent went to programs.
Run by 31 volunteers and 24 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $823K a year · 34% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$153K
to officers and key staff · 7% of spending
Top officer’s pay higher than 65% of similar orgs
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $21K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$137K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 17 voting members
Looks good: 16 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.9M
+40% vs prior year
Spent
$2.2M
To programs
64%
Net assets
$7.8M
By yearFY2020–FY2024
Revenue
$1.9M
FY2024▲ +40%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.5M
FY2021$4.0M
FY2022$4.0M
FY2023$1.4M
FY2024$1.3M
FY2024$1.9M
Expenses
$2.2M
FY2024▲ +26%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.7M
FY2022$1.6M
FY2023$1.7M
FY2024$1.7M
FY2024$2.2M
Net assets
$7.8M
FY2024▼ -6%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.0M
FY2021$6.7M
FY2022$8.8M
FY2023$8.6M
FY2024$8.3M
FY2024$7.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2001.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

64 cents of each dollar spent went to programs.

Program services 64% · $1.4M Management & general 14% · $301K Fundraising 22% · $489K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

17 people listed on the 990; $153K paid to officers and key staff.

Part VII, Section A · reportable compensation
Head of School
$152,625Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Marie Myers’s $153K as Head of School is at the 65th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Marie Myers$152,625—————
Maura Farrell——$131,950$118,529$126,603$125,000
Maria Myers—$92,750————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Sophia Academy executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates girls from low-income families, empowering them for future success.

Provided by the organization

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1 program · $1.4M · in their own filed words · FY2024
01

Middle school for girls from low-income families which opened september, 2001 with 65 girls enrolled. Minimal tuition fees are charged to the families so the funds to operate come mainly from public and private sources.

$1.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$21K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.9M
Ln 12
Gifts and grantsLn 1h$1.3M
Investment incomeLn 3$587K
Fees for servicesLn 2g$38K
Money outPt IX
$2.2M
Ln 25
Programscol B$1.4M
Managementcol C$301K
Fundraisingcol D$489K
Owns and owesPt X
$7.8M
net assets · Ln 32
Cash and savingsLn 1–2$687K
Total assetsLn 16$7.9M
LiabilitiesLn 26$137K
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a17
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Government grantsLn 1e$144K
Fees for servicesLn 2g$38K
Investment incomeLn 3$587K
Gains on assetsLn 7$303K
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
CashLn 1$662K
SavingsLn 2$25K
Cash and savings togetherLn 1–2$687K
InvestmentsLn 11–13$4.2M
Land, buildings, equipmentLn 10c$1.7M
Total assetsLn 16$7.9M
LiabilitiesLn 26$137K
Net assetsLn 32$7.8M
OperationsPt I, VI
EmployeesI 524
VolunteersI 631
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$735K$687K
InvestmentsLn 11–13$4.0M$4.2M
Land, buildings, equipmentLn 10c$1.7M$1.7M
Total assetsLn 16$8.4M$7.9M
LiabilitiesLn 26$111K$137K
Net assetsLn 32$8.3M$7.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$161K$118K$21K$23K
Other salaries and wagesLn 7$968K$707K$126K$136K
Other employee benefitsLn 9$93K$68K$12K$13K
Payroll taxesLn 10$97K$71K$13K$14K
Accounting feesLn 11c$65K$65K
Investment management feesLn 11f$25K$25K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$3K$3K$208$93
Conferences, conventions and meetingsLn 19$11K$11K
Depreciation, depletion and amortizationLn 22$85K$77K$6K$3K
InsuranceLn 23$37K$33K$3K$1K
Other expenses (24a–d)Ln 24$434K$173K$4K$256K
All other expensesLn 24e$215K$157K$16K$42K
Total functional expensesLn 25$2.2M$1.4M$301K$489K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.3M$1.7M−$408K$8.3M 990 PDF
FY2023 $1.4M$1.7M−$362K$8.6M 990 PDF
FY2022 $4.0M$1.6M$2.4M$8.8M 990 PDF
FY2021 $4.0M$1.7M$2.3M$6.7M 990 PDF
FY2020 $1.5M$1.4M$183K$4.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $1,868,775 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,061,985$1,251,228
I-9 Program service revenuePrior year $38,093$38,258
I-10 Investment incomePrior year $291,465$586,624
I-11 Other revenuePrior year −$55,405−$7,335
I-12 Total revenuePrior year $1,336,138$1,868,775
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,099,177$1,319,385
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $644,682$876,392
I-18 Total expensesPrior year $1,743,859$2,195,777
I-19 Revenue less expensesPrior year −$407,721−$327,002
Part VI · Governance 16 of 17 board members independent, no flags
VI-1a Voting members of the governing body17
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,868,775 across 8 lines filed
VIII-1e Government grants$144,028
VIII-1f All other contributions, gifts and grants$1,107,200
VIII-1h Total contributions, gifts and grants$1,251,228
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $38,258$38,258
VIII-3 Investment incomeExcluded from tax $283,766$283,766
VIII-7 Net gain or loss on sales of assetsRelated to mission $302,858$302,858
VIII-8 Net income from fundraising eventsExcluded from tax −$7,335−$7,335
VIII-12 Total revenueRelated to mission $341,116 · Unrelated business $0 · Excluded from tax $276,431$1,868,775
Part IX · Statement of functional expenses $2,195,777 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $117,583 · Management $20,939 · Fundraising $22,550$161,072
IX-7 Other salaries and wagesPrograms $706,688 · Management $125,849 · Fundraising $135,529$968,066
IX-9 Other employee benefitsPrograms $68,131 · Management $12,133 · Fundraising $13,066$93,330
IX-10 Payroll taxesPrograms $70,750 · Management $12,599 · Fundraising $13,568$96,917
IX-11c Accounting feesManagement $65,048$65,048
IX-11f Investment management feesManagement $24,826$24,826
IX-12 Advertising and promotionFundraising $2,657$2,657
IX-13 Office expensesPrograms $2,673 · Management $208 · Fundraising $93$2,974
IX-19 Conferences, conventions and meetingsManagement $10,524$10,524
IX-22 Depreciation, depletion and amortizationPrograms $76,687 · Management $5,965 · Fundraising $2,555$85,207
IX-23 InsurancePrograms $32,901 · Management $2,559 · Fundraising $1,097$36,557
IX-24 Other expenses (24a–d)Programs $173,156 · Management $4,313 · Fundraising $256,266$433,735
IX-24e All other expensesPrograms $157,160 · Management $16,008 · Fundraising $41,696$214,864
IX-25 Total functional expensesPrograms $1,405,729 · Management $300,971 · Fundraising $489,077$2,195,777
Part X · Balance sheet $7,900,559 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $603,837$661,659
X-2 Savings and temporary cash investmentsStart of year $130,854$24,925
X-3 Pledges and grants receivableStart of year $1,872,863$1,283,505
X-4 Accounts receivableStart of year $50,463$5,275
X-9 Prepaid expenses and deferred chargesStart of year $22,506$31,925
X-10c Land, buildings and equipment, netStart of year $1,663,531$1,686,942
X-12 Other securitiesStart of year $4,042,332$4,206,328
X-16 Total assetsStart of year $8,386,386$7,900,559
X-17 Accounts payable and accrued expensesStart of year $110,569$137,400
X-26 Total liabilitiesStart of year $110,569$137,400
X-27 Net assets without donor restrictionsStart of year $903,203$2,695,202
X-28 Net assets with donor restrictionsStart of year $7,372,614$5,067,957
X-32 Total net assets or fund balancesStart of year $8,275,817$7,763,159
X-33 Total liabilities and net assetsStart of year $8,386,386$7,900,559
Part XI · Reconciliation of net assets $7,763,159 net assets at year end
XI-1 Total revenue$1,868,775
XI-2 Total expenses$2,195,777
XI-3 Revenue less expenses−$327,002
XI-4 Net assets at start of year$8,275,817
XI-5 Net unrealized gains (losses) on investments−$185,656
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,763,159

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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