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Excel Academy Rhode Island FY2023 filing

Tax-deductible

N Providence, RI501(c)(3)Since 2021EducationEIN 87-4129135Revenue $3.5M in FY2023

On file with the IRSexcelacademy.org/massachusetts-school622 Woonasquatucket Ave, 02911-1652 · N Providence, RITax-exempt since Apr 2022School — 170(b)(1)(A)(ii)

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The mission of Excel Academy Rhode Island is to prepare students to succeed in high school and college, to apply their learning in solving relevant problems, and to engage productively in their community.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $200K a year · 4% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $929K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
99% of total assets
Concern: liabilities are 99% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.5M
Spent
$3.5M
To programs
92%
Net assets
$8K
By yearFY2023–FY2025
Revenue
$3.5M
FY2023
Tap a bar for its year
Revenue by fiscal year
FY2023$3.5M
FY2024$4.9M
FY2025$7.6M
Expenses
$3.5M
FY2023
Tap a bar for its year
Expenses by fiscal year
FY2023$3.5M
FY2024$4.9M
FY2025$7.0M
Net assets
$8K
FY2023
Tap a bar for its year
Net assets by fiscal year
FY2023$8K
FY2024$21K
FY2025$857K

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2022.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $3.2M Management & general 8% · $290K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Channavy Chhay
Vice Chair
$0Pt VII · Sec A
Chiv Heng
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Liz Giordano
Board Member
$0Pt VII · Sec A
Gary Goldberg
Board Member
$0Pt VII · Sec A

Kate Ring’s $129K as Head of School is at the 52nd percentile of top reported officer pay among 3395 $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 · 4 named individuals · Part VII

NameFY2025FY2024
Kate Ring$129,140—
Megan Perry$114,418$116,590
Kate Cushing—$100,526
Priscilla Santiago$100,161—

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 Excel Academy Rhode Island 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 15aNo

Programs and updates

Prepares students for high school, college, and community success through applied learning.

Questions for Excel Academy Rhode Island

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Provided by the organization

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1 program · $3.2M · in their own filed words · FY2022
01

To provide education to k-12 students.

$3.2Mprogram 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 · FY2024
Friends of Excel Academy Charter Schools INCFY2024$929K
Total grants receivedfrom 1 funder$929K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.5M
Ln 12
Gifts and grantsLn 1h$3.5M
Money outPt IX
$3.5M
Ln 25
Programscol B$3.2M
Managementcol C$290K
Owns and owesPt X
$8K
net assets · Ln 32
Cash and savingsLn 1–2$443K
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.5M
Government grantsLn 1e$1.7M
Total revenueLn 12$3.5M
Assets in detailPt X, end of year
CashLn 1$335K
SavingsLn 2$108K
Cash and savings togetherLn 1–2$443K
Other assetsLn 15$791K
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.3M
Net assetsLn 32$8K
OperationsPt I, VI
EmployeesI 519
VolunteersI 657
Fiscal year endsHeaderJune
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 FY23End FY23
Cash and savingsLn 1–2$1K$443K
Total assetsLn 16$1K$1.3M
LiabilitiesLn 26$0$1.3M
Net assetsLn 32$1K$8K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.3M$1.3M
Other employee benefitsLn 9$115K$115K
Payroll taxesLn 10$102K$102K
Management feesLn 11a$284K$284K
Other fees for servicesLn 11g$52K$49K$3K
Office expensesLn 13$147K$144K$3K
OccupancyLn 16$331K$331K
TravelLn 17$6K$6K
Other expenses (24a–d)Ln 24$1.1M$1.1M
Total functional expensesLn 25$3.5M$3.2M$290K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $7.6M$7.0M$579K$857K 990 PDF
FY2024 $4.9M$4.9M$13K$21K 990 PDF
FY2023 Viewing $3.5M$3.5M$7K$8K 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 FY2023 990 (6 parts)
Part I · Summary $3,494,734 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,000$3,494,734
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $1,000$3,494,734
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$1,558,553
I-16a Professional fundraising fees$0
I-17 Other expenses$1,929,272
I-18 Total expenses$3,487,825
I-19 Revenue less expensesPrior year $1,000$6,909
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $3,494,734 across 4 lines filed
VIII-1e Government grants$1,675,683
VIII-1f All other contributions, gifts and grants$1,819,051
VIII-1h Total contributions, gifts and grants$3,494,734
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$3,494,734
Part IX · Statement of functional expenses $3,487,825 across 9 lines filed
IX-7 Other salaries and wagesPrograms $1,341,655$1,341,655
IX-9 Other employee benefitsPrograms $114,782$114,782
IX-10 Payroll taxesPrograms $102,116$102,116
IX-11a Management feesManagement $283,605$283,605
IX-11g Other fees for servicesPrograms $49,023 · Management $3,000$52,023
IX-13 Office expensesPrograms $144,124 · Management $3,292$147,416
IX-16 OccupancyPrograms $330,805$330,805
IX-17 TravelPrograms $5,790$5,790
IX-24 Other expenses (24a–d)Programs $1,109,633$1,109,633
IX-25 Total functional expensesPrograms $3,197,928 · Management $289,897 · Fundraising $0$3,487,825
Part X · Balance sheet $1,300,193 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,000$334,584
X-2 Savings and temporary cash investments$108,097
X-4 Accounts receivable$36,863
X-9 Prepaid expenses and deferred charges$29,567
X-15 Other assetsStart of year $0$791,082
X-16 Total assetsStart of year $1,000$1,300,193
X-17 Accounts payable and accrued expensesStart of year $0$194,418
X-25 Other liabilitiesStart of year $0$1,097,866
X-26 Total liabilitiesStart of year $0$1,292,284
X-27 Net assets without donor restrictionsStart of year $1,000$7,909
X-32 Total net assets or fund balancesStart of year $1,000$7,909
X-33 Total liabilities and net assetsStart of year $1,000$1,300,193
Part XI · Reconciliation of net assets $7,909 net assets at year end
XI-1 Total revenue$3,494,734
XI-2 Total expenses$3,487,825
XI-3 Revenue less expenses$6,909
XI-4 Net assets at start of year$1,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,909

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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