Prestigious Academy Inc

Charity Navigator Rating: 0 stars

Prestigious Academy Inc has received a Zero-Star out of Four Star rating from Charity Navigator, reflecting significant concerns regarding its accountability and financial practices. The overall score is 37%, indicating a lack of transparency and governance, particularly due to the absence of independent board members and insufficient financial reporting. While the organization demonstrated a strong program expense ratio, it fell short in critical areas such as the publication of financial statements and adherence to conflict of interest policies.

The nonprofit's governance structure raises red flags, as it has no independent board members, which can undermine the organization’s accountability. Additionally, the absence of a whistleblower policy and a document retention plan further highlights weaknesses in organizational practices. The material diversion of assets was rated positively, but overall, the metrics suggest that the organization struggles with foundational governance issues.

While Prestigious Academy Inc may be effectively utilizing its program expenses, the lack of financial transparency and adherence to best practices could deter potential donors and supporters. Stakeholders should be cautious and seek more information regarding the organization’s operations and governance before engaging with or contributing to its causes.

This AI summary has been generated from information found on Charity Navigator.

Prestigious Academy Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Prestigious Academy Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Heare are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $339,260

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