Polaris Charter Academy
Polaris Charter Academy shows consistent revenue growth but experienced a deficit in the latest fiscal year.
EIN: 10874029 · Chicago, IL · NTEE: B24 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.1M |
| Total Expenses | $6.4M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $5 |
| Net Assets | $2.9M |
| Transparency Score | 85/100 |
Is Polaris Charter Academy Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Polaris Charter Academy directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Polaris Charter Academy
Polaris Charter Academy (EIN: 10874029) is a nonprofit organization based in Chicago, IL, classified under NTEE code B24. The organization reported total revenue of $6.1M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Polaris Charter Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Polaris Charter Academy is a mid-size nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.9M |
| Total Expenses | $6.4M |
| Surplus / Deficit | $-563,080 |
| Total Assets | $3.0M |
| Total Liabilities | $102K |
| Net Assets | $2.9M |
| Operating Margin | -9.6% |
| Debt-to-Asset Ratio | 3.4% |
| Months of Reserves | 5.6 months |
Financial Health Grade: B
In 2023, Polaris Charter Academy reported a deficit of $563K with expenses exceeding revenue, holds 5.6 months of operating reserves (adequate), has a debt-to-asset ratio of 3.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Polaris Charter Academy's revenue has grown at a compound annual growth rate (CAGR) of 7.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.6% | +8.6% | -19.7% |
| 2022 | -3.5% | +7.9% | +11.2% |
| 2021 | +15.2% | +1.5% | -0.7% |
| 2020 | +2.0% | +5.2% | +37.2% |
| 2019 | +3.1% | +4.6% | +11.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2008 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Polaris Charter Academy with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Polaris Charter Academy allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $563K, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation, which is highly unusual for an organization of this size with annual revenues exceeding $5 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Polaris Charter Academy's IRS 990 filings:
- Expenses exceeded revenue by over $560,000 in the 202306 fiscal period.
- Significant decline in assets from $3,753,040 in 202206 to $3,012,188 in 202306.
Strengths
The following positive indicators were identified for Polaris Charter Academy:
- Consistent reporting of 0% officer compensation across all filings, indicating strong resource allocation to mission.
- Steady revenue growth over the past decade, demonstrating sustained support.
- Generally low liabilities, suggesting good financial management and limited debt.
- Positive net assets in most periods, indicating financial health.
Frequently Asked Questions about Polaris Charter Academy
Is Polaris Charter Academy a legitimate charity?
Polaris Charter Academy (EIN: 10874029) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $6.1M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Polaris Charter Academy spend its money?
Polaris Charter Academy directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Polaris Charter Academy tax-deductible?
Polaris Charter Academy is registered as a tax-exempt nonprofit (EIN: 10874029). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Polaris Charter Academy CEO make?
Polaris Charter Academy's highest-compensated officer earns $5 annually. The organization reported $6.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Polaris Charter Academy's spending goes to programs?
Polaris Charter Academy directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Polaris Charter Academy compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Polaris Charter Academy is above average for NTEE category B24 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Polaris Charter Academy located?
Polaris Charter Academy is headquartered in Chicago, Illinois and files with the IRS under EIN 10874029. It is classified under NTEE code B24.
How many years of IRS 990 filings does Polaris Charter Academy have?
Polaris Charter Academy has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $6.1M in total revenue.
Is Polaris Charter Academy financially stable?
Polaris Charter Academy generally appears financially stable, with revenues consistently covering expenses in most years. However, the 202306 period showed expenses ($6,416,575) exceeding revenue ($5,853,495), resulting in a deficit for that year. Assets have also seen a recent decline from $3,753,040 in 202206 to $3,012,188 in 202306.
How does Polaris Charter Academy manage executive compensation?
Polaris Charter Academy reports 0% officer compensation across all 13 available filings. This suggests that no officers received compensation, which is a significant indicator of resources being directed away from executive pay and towards the organization's mission.
What is the trend in Polaris Charter Academy's revenue?
Polaris Charter Academy has shown a consistent upward trend in revenue over the past decade, growing from $4,790,895 in 201406 to $5,853,495 in 202306, indicating sustained support and growth.
Are there any concerns regarding the organization's liabilities?
Liabilities for Polaris Charter Academy have generally remained low, with the highest reported at $914,519 in 202006, but typically staying well below $300,000. This indicates a healthy financial position with limited debt burden.
Filing History
IRS 990 filing history for Polaris Charter Academy showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Polaris Charter Academy's revenue has grown by 126.5%, moving from $2.6M to $5.9M. Total assets increased by 234% over the same period, from $902K to $3.0M. Total functional expenses rose by 153.4%, from $2.5M to $6.4M. In its most recent filing year (2023), Polaris Charter Academy reported a deficit of $563K, with expenses exceeding revenue. The organization holds $102K in liabilities against $3.0M in assets (debt-to-asset ratio: 3.4%), resulting in net assets of $2.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.9M | $6.4M | $3.0M | $102K | — | View 990 |
| 2022 | $6.1M | $5.9M | $3.8M | $280K | — | View 990 |
| 2021 | $6.3M | $5.5M | $3.4M | $68K | — | View 990 |
| 2020 | $5.5M | $5.4M | $3.4M | $915K | — | View 990 |
| 2019 | $5.4M | $5.1M | $2.5M | $66K | — | View 990 |
| 2018 | $5.2M | $4.9M | $2.2M | $40K | — | View 990 |
| 2017 | $5.0M | $4.8M | $1.9M | $46K | — | View 990 |
| 2016 | $4.8M | $4.9M | $1.8M | $62K | — | View 990 |
| 2015 | $4.8M | $4.7M | $1.7M | $24K | — | View 990 |
| 2014 | $4.8M | $4.2M | $1.7M | $48K | — | View 990 |
| 2013 | $3.8M | $3.6M | $1.1M | $53K | — | View 990 |
| 2012 | $3.1M | $3.1M | $840K | $4K | — | View 990 |
| 2011 | $2.6M | $2.5M | $902K | $12K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.9M, expenses of $6.4M, and assets of $3.0M (revenue -3.6% year-over-year).
- 2022: Revenue of $6.1M, expenses of $5.9M, and assets of $3.8M (revenue -3.5% year-over-year).
- 2021: Revenue of $6.3M, expenses of $5.5M, and assets of $3.4M (revenue +15.2% year-over-year).
- 2020: Revenue of $5.5M, expenses of $5.4M, and assets of $3.4M (revenue +2.0% year-over-year).
- 2019: Revenue of $5.4M, expenses of $5.1M, and assets of $2.5M (revenue +3.1% year-over-year).
- 2018: Revenue of $5.2M, expenses of $4.9M, and assets of $2.2M (revenue +4.5% year-over-year).
- 2017: Revenue of $5.0M, expenses of $4.8M, and assets of $1.9M (revenue +2.8% year-over-year).
- 2016: Revenue of $4.8M, expenses of $4.9M, and assets of $1.8M (revenue +1.8% year-over-year).
- 2015: Revenue of $4.8M, expenses of $4.7M, and assets of $1.7M (revenue -0.8% year-over-year).
- 2014: Revenue of $4.8M, expenses of $4.2M, and assets of $1.7M (revenue +27.1% year-over-year).
- 2013: Revenue of $3.8M, expenses of $3.6M, and assets of $1.1M (revenue +22.3% year-over-year).
- 2012: Revenue of $3.1M, expenses of $3.1M, and assets of $840K (revenue +19.2% year-over-year).
- 2011: Revenue of $2.6M, expenses of $2.5M, and assets of $902K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Polaris Charter Academy:
Data Sources and Methodology
This transparency report for Polaris Charter Academy is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.