Civic Intelligence

Granite Academy Inc

990 • Fiscal year 2015 • EIN 04-2737184

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 06, 2015

6 Columbian StreetBraintree, MA 02184

(781) 380-3917

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.62x

Higher debt load relative to assets than 83% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

80th percentile

0.67x

Higher debt load relative to revenue than 80% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

52nd percentile

3.3%

Higher net margin than 52% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

86th percentile

$168,215

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

69th percentile

7.4%

Faster asset growth than 69% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

46th percentile

1.9%

Faster revenue growth than 46% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Up

$3,063,516

Up $211,599 (+7.4%) from 2014

Net Assets

Up

$1,161,631

Up $92,397 (+8.6%) from 2014

Liabilities

Up

$1,901,885

Up $119,202 (+6.7%) from 2014

Revenue

Up

$2,832,821

Up $52,437 (+1.9%) from 2014

Expenses

Up

$2,740,424

Up $41,077 (+1.5%) from 2014

Net Income

Up

$92,397

Up $11,360 (+14%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $2,730,563Liabilities 2011: $1,753,923Net Assets 2011: $976,6402011Assets 2012: $2,684,174Liabilities 2012: $1,752,425Net Assets 2012: $931,7492012Assets 2013: $2,810,790Liabilities 2013: $1,822,593Net Assets 2013: $988,1972013Assets 2014: $2,851,917Liabilities 2014: $1,782,683Net Assets 2014: $1,069,2342014Assets 2015: $3,063,516Liabilities 2015: $1,901,885Net Assets 2015: $1,161,6312015Assets 2016: $2,763,555Liabilities 2016: $1,773,150Net Assets 2016: $990,4052016

Highlighted filing

2015

Assets$3,063,516
Liabilities$1,901,885
Net Assets$1,161,631

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $2,407,867Expenses 2011: $2,396,239Net Income 2011: $11,6282011Expenses 2012: $2,379,9742012Revenue 2013: $2,451,700Expenses 2013: $2,395,252Net Income 2013: $56,4482013Revenue 2014: $2,780,384Expenses 2014: $2,699,347Net Income 2014: $81,0372014Revenue 2015: $2,832,821Expenses 2015: $2,740,424Net Income 2015: $92,3972015Revenue 2016: $2,954,043Expenses 2016: $3,147,769Net Income 2016: -$193,7262016

Highlighted filing

2015

Revenue$2,832,821
Expenses$2,740,424
Net Income$92,397
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 6, 2015
Return Version
2014v5.0
Gross Receipts
$2,832,821
Mission and Program Overview

Mission

Granite academy was founded in 1981 for the purpose of providing educational and vocational services to boys and girls ages 12 through 21 who have serious learning, behavioral and emotional problems. The academy provides its services through an approved chapter 766 day school located in braintree, ma.

Granite academy was founded in 1981 for the purpose of providing educational and vocational services to boys and girls ages 12 through 21 who have serious learning, behavioral and emotional problems.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,911,354$1,987,957▲ $76,603
Savings and Temporary Cash Investments$533,629$788,501▲ $254,872
Cash and Non-Interest-Bearing Accounts$156,021$131,965▼ $24,056
Accounts Receivable$161,354$75,940▼ $85,414
Investments in Publicly Traded Securities$35,945$37,186▲ $1,241
Investments Other Securities$34,109$36,379▲ $2,270
Prepaid Expenses and Deferred Charges$19,505$5,588▼ $13,917
Total Assets$2,851,917$3,063,516▲ $211,599
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,642,703$1,732,220▲ $89,517
Other Liabilities$70,054$96,065▲ $26,011
Accounts Payable and Accrued Expenses$69,926$73,600▲ $3,674
Total Liabilities$1,782,683$1,901,885▲ $119,202
Net Assets / Fund Balance
Unrestricted Net Assets$1,069,234$1,156,631▲ $87,397
Temporarily Rstr Net Assets$0$5,000▲ $5,000
Total Net Assets Fund Balance$1,069,234$1,161,631▲ $92,397
Total Liabilities and Net Assets / Fund Balance$2,851,917$3,063,516▲ $211,599

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,875,112$1,447,720$3,322,832
Land$88,745-$88,745
Equipment$24,100$52,830$76,930
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James BertramDirector/executive DirectorFT$149,765$18,450$168,215
Louis TozziClerk-$1,377-$1,377

Board Members and Trustees

NameTitle
Tom FeldmanPresident
Derrick EgbertDirector
Lisa McelaneyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$23,911
Program Service Revenue
$2,797,854
Investment Income
$5,719
Other Revenue
$5,337
All Other Contributions
$23,911
Change in Net Assets
$92,397

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,832,821
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,832,821
Total Revenue per Form 990
$2,832,821
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,887,298
Other Expenses$853,126
Total Fundraising Expense$6,068
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,386,588$52,458-$1,439,046
Occupancy$404,603$12,514-$417,117
Current Officers, Directors, Trustees, and Key Employees-$180,011-$180,011
Payroll Taxes$143,667$21,392-$165,059
Depreciation Depletion$156,117$4,828-$160,945
Other Employee Benefits$89,810$13,372-$103,182
All Other Expenses$21,269$37,342$6,068$64,679
Other Expenses$22,176--$22,176
Fees for Services Accounting-$22,000-$22,000
Travel$13,338--$13,338
Fees for Services Legal-$6,808-$6,808
Insurance-$2,964-$2,964
Total Functional Expenses$2,380,667$353,689$6,068$2,740,424

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,740,424
Total Expenses per Audited Statements$2,740,424
Total Expenses per Form 990$2,740,424
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation Liability$96,065
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

Due to the small size of the board of directors (5 directors), there are no committees with the authority to act on its behalf.

Form 990, Part VI, Section B, Line 11

The organization's executive director reviews a draft of the form 990, which is prepared by the organization's independent accountants. Any resultant comments and changes are incorporated into the form by the independent accountants. A final version of the form 990 is then provided to each member of the board of directors prior to its filing with the irs.

Form 990, Part VI, Section B, Line 12C

All officers and directors of the organization are required to file a statement on an annual basis disclosing any potential interests that could give rise to conflicts. These statements are completed at the beginning of each fiscal year and are evaluated by the officers of the organization. Individuals with potential conflicts of interest are prohibited from participating in any deliberations or decisions that may be affected by a potential conflict of interest.

Form 990, Part VI, Section B, Line 15A

Compensation of the executive director is reviewed on an annual basis in connection with the organization's budgeting process. The board of directors reviews and approves the compensation of the executive director using data for comparable organizations. Such deliberations and decisions are recorded in the meeting minutes.

Form 990, Part VI, Section C, Line 19

The organization's audited financial statements are available to the public via the websites of certain state regulatory agencies as well as upon request.

Filing and Contact Details

Filer

Filer Name
Granite Academy Inc
EIN
04-2737184
Phone
7813803917
Address
6 COLUMBIAN STREET, BRAINTREE, MA 02184

Signing Officer

Name
James Bertram
Title
Executive Director
Phone
7813803945
Signed
2015-10-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Bertram
Formed
1981
Legal Domicile
Ma
Voting Board Members
5
Independent Board Members
4
Employees
42
Volunteers
4

Preparer

Firm
Leonard Mulherin & Greene Pc
Address
625 GROVE STREET, BRAINTREE, MA 02184
Preparer
Stephen M Snow
Phone
7813564800
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01447720
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03322832
IRS990ScheduleD/EquipmentGrp/BookValueAmt024100
IRS990ScheduleD/EquipmentGrp/DepreciationAmt052830
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt076930
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02740424
IRS990ScheduleD/LandGrp/BookValueAmt088745
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt088745
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt096065
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED COMPENSATION LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02832821
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01987957
IRS990ScheduleD/TotalExpensesPerForm990Amt02740424
IRS990ScheduleD/TotalLiabilityAmt096065
IRS990ScheduleD/TotalRevenuePerForm990Amt02832821
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02832821
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02740424
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THROUGH ADVERTISEMENTS IN NEWSPAPERS, TRADE PUBLICATIONS AND SCHOOL ASSOCIATION BOOKLETS AND MATERIALS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1GRANITE ACADEMY IS A PRIVATE DAY SCHOOL APPROVED BY THE COMMONWEALTH OF MASSACHUSETTS DEPARTMENT OF ELEMENTARY AND SECONDARY EDUCATION AND, AS SUCH, RECEIVES FUNDING FROM VARIOUS CITIES AND TOWNS WITHIN MASSACHUSETTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0149765
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt018450
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JAMES BERTRAM
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR/EXECUTIVE DIR.
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0168215
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DUE TO THE SMALL SIZE OF THE BOARD OF DIRECTORS (5 DIRECTORS), THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON ITS BEHALF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S EXECUTIVE DIRECTOR REVIEWS A DRAFT OF THE FORM 990, WHICH IS PREPARED BY THE ORGANIZATION'S INDEPENDENT ACCOUNTANTS. ANY RESULTANT COMMENTS AND CHANGES ARE INCORPORATED INTO THE FORM BY THE INDEPENDENT ACCOUNTANTS. A FINAL VERSION OF THE FORM 990 IS THEN PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS PRIOR TO ITS FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL OFFICERS AND DIRECTORS OF THE ORGANIZATION ARE REQUIRED TO FILE A STATEMENT ON AN ANNUAL BASIS DISCLOSING ANY POTENTIAL INTERESTS THAT COULD GIVE RISE TO CONFLICTS. THESE STATEMENTS ARE COMPLETED AT THE BEGINNING OF EACH FISCAL YEAR AND ARE EVALUATED BY THE OFFICERS OF THE ORGANIZATION. INDIVIDUALS WITH POTENTIAL CONFLICTS OF INTEREST ARE PROHIBITED FROM PARTICIPATING IN ANY DELIBERATIONS OR DECISIONS THAT MAY BE AFFECTED BY A POTENTIAL CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION OF THE EXECUTIVE DIRECTOR IS REVIEWED ON AN ANNUAL BASIS IN CONNECTION WITH THE ORGANIZATION'S BUDGETING PROCESS. THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION OF THE EXECUTIVE DIRECTOR USING DATA FOR COMPARABLE ORGANIZATIONS. SUCH DELIBERATIONS AND DECISIONS ARE RECORDED IN THE MEETING MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC VIA THE WEBSITES OF CERTAIN STATE REGULATORY AGENCIES AS WELL AS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt00
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt05000
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02851917
IRS990/TotalAssetsEOYAmt03063516
IRS990/TotalAssetsGrp/BOYAmt02851917
IRS990/TotalAssetsGrp/EOYAmt03063516
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt023911
IRS990/TotalEmployeeCnt042
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06068
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0353689
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02380667
IRS990/TotalFunctionalExpensesGrp/TotalAmt02740424
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01782683
IRS990/TotalLiabilitiesEOYAmt01901885
IRS990/TotalLiabilitiesGrp/BOYAmt01782683
IRS990/TotalLiabilitiesGrp/EOYAmt01901885
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01069234
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01161631
IRS990/TotalOtherCompensationAmt018450
IRS990/TotalProgramServiceExpensesAmt02380667
IRS990/TotalProgramServiceRevenueAmt02797854
IRS990/TotalReportableCompFromOrgAmt0151142
IRS990/TotalRevenueGrp/ExclusionAmt05719
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02803191
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02832821
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02851917
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03063516
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt013338
IRS990/TravelGrp/TotalAmt013338
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01069234
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01156631
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt06 COLUMBIAN STREET
IRS990/USAddress/CityNm0BRAINTREE
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002184
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.GABRAINTREE.ORG
IRS990/WhistleblowerPolicyInd01

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