RISE PREP MAYORAL ACADEMY

EIN: 472487094 501(c)(3) Education

WOONSOCKET, RI

Total Revenue
$11,691,488
Total Expenses
$10,862,352
Total Assets
$16,774,101
Net Assets
$7,873,933
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
RI
Principal Officer
ROSALIND DACRUZ
Phone
4017655127
Tax Period
2024-07-01 to 2025-06-30

RISE PREP MAYORAL ACADEMY, founded in 2014, is a mid-sized nonprofit in the Education sector that reported $11.7M in total revenue in fiscal year 2024. Expenses of $10.9M left a modest 7% surplus.

Mission

THROUGH A STRUCTURED LEARNING ENVIRONMENT, RIGOROUS COLLEGE- PREPARATORY CURRICULUM, AND CHARTER EDUCATION, RISE PREP MAYORAL ACADEMY EDUCATED K-8 GRADE SCHOLARS FOR SUCCESS IN COLLEGE AND A LIFE OF COMMUNITY ENGAGEMENT.

Program Service Accomplishments

Program 1
Expenses: $7,284,645 Revenue: $9,935,191

RISE PREP IS A TUITION-FREE, PUBLIC MAYORAL ACADEMY, OPEN TO STUDENTS IN WOONSOCKET, NORTH SMITHFIELD, AND BURRILLVILLE. RISE PREP OPENED IN AUGUST 2015 WITH 48 KINDERGARTEN STUDENTS, AND WILL GROW...

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RISE PREP IS A TUITION-FREE, PUBLIC MAYORAL ACADEMY, OPEN TO STUDENTS IN WOONSOCKET, NORTH SMITHFIELD, AND BURRILLVILLE. RISE PREP OPENED IN AUGUST 2015 WITH 48 KINDERGARTEN STUDENTS, AND WILL GROW ONE GRADE EACH YEAR UNTIL REACHING A FULL K-12 SCHOOL MODEL.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,174,266
Program Service Revenue $9,935,191
Investment Income $5,243
Other Revenue $576,788
TOTAL REVENUE $11,691,488

Expense Breakdown

Grants Paid $0
Salaries & Benefits $7,223,856
Fundraising Expenses $0
Program Expenses $7,284,645
Other Expenses $3,638,496
TOTAL EXPENSES $10,862,352

Year-over-Year Comparison

2024 2023 Change
Revenue $11,691,488 $11,157,549 +0.0%
Expenses $10,862,352 $8,586,255 +0.3%
Net Income $829,136 $2,571,294 -0.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
Employees
130
Volunteers
10

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$502,400
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROSALIND DACRUZ EXECUTIVE DIRECTOR 60.00
Officer
$186,000 $0 $186,000
STEPHEN IZZI DIRECTOR 2.00
Director
$0 $0 $0
RAYMOND LEVEILLE TREASURER 2.00
Officer Director
$0 $0 $0
CHRIS BEAUCHAMP BOARD CHAIR/PRESIDENT 2.00
Officer Director
$0 $0 $0
PAULETTE D HAMILTON VICE CHAIR 2.00
Officer Director
$0 $0 $0
THOMAS CALOURO DIRECTOR 2.00
Director
$0 $0 $0
GEORGETA GASSEY DIRECTOR 2.00
Director
$0 $0 $0
CAROLYN DIAS DIRECTOR 2.00
Director
$0 $0 $0
JOHN O'ROURKE DIRECTOR 2.00
Director
$0 $0 $0
COLLEEN CARMELA COLARUSSO SUPERINTENDENT 40.00
Officer
$162,900 $0 $162,900
KAT WALLER CHIEF FINANCIAL OFFICER 50.00
Officer
$153,500 $0 $153,500
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $11,691,488 $10,862,352 $16,774,101 $829,136
2024 No data No data No data No data
2023 $6,922,181 $6,793,646 $14,432,427 $128,535
2022 $6,023,422 $5,644,904 $9,963,714 $378,518
2021 $7,579,873 $4,735,796 $9,706,035 $2,844,077
2020 $4,529,142 $3,743,447 $10,028,280 $785,695
2019 $3,134,622 $2,718,083 $7,075,570 $416,539
2018 $2,071,071 $1,947,267 $518,631 $123,804
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